SCHEDULES
I2C1 SCHEDULE 2F11Legal services practices: Supplementary Provisions
Words in Sch. 2 heading substituted (31.3.2009) by Legal Services Act 2007 (c. 29), ss. 177, 211, Sch. 16 para. 85 (with ss. 29, 192, 193); S.I. 2009/503, art. 2(b)(ii)
Sch. 2 applied (with modifications) by SI 2000/1119 Sch. 4 para. 24(2) (as substituted (1.11.2015) by The Legal Services Act 2007 (The Law Society) (Modification of Functions) Order 2015 (S.I. 2015/401), art. 1(3), Sch. 2 para. 3(c)(ii))
Intervention by Society
I132
1
Subject to sub-paragraph (2), where—
a
b
a person has been appointed receiver or manager of property of a recognised body; or
F4c
a relevant insolvency event occurs in relation to a recognised body; or
d
the F5Society has reason to suspect dishonesty on the part of any F6manager or employee of a recognised body in connection with
F7i
that body's business,
ii
any trust of which that body is or was a trustee,
iii
any trust of which the manager or employee is or was a trustee in his capacity as such a manager or employee, or
iv
the business of another body in which the manager or employee is or was a manager or employee or the practice (or former practice) of the manager or employee; or
F12da
the Society considers that there has been undue delay on the part of the personal representatives of a deceased solicitor who immediately before death was practising as the sole principal of a recognised body in connection with the recognised body’s business or in connection with any trust; or
db
the Society is satisfied that a solicitor practising as the sole principal of a recognised body is incapacitated by illness, injury or accident to such an extent as to be unable to attend to the solicitor’s practice or to the recognised body’s business; or
F8e
the Society is satisfied that it is necessary to exercise the powers conferred by Part 2 of Schedule 1 to the 1974 Act (or any of them) in relation to a recognised body to protect—
i
the interests of clients (or former or potential clients) of the recognised body,
ii
the interests of the beneficiaries of any trust of which the recognised body is or was a trustee, or
iii
the interests of the beneficiaries of any trust of which a person who is or was a manager or employee of the recognised body is or was a trustee in that person's capacity as such a manager or employee;
the powers conferred by Part II of Schedule 1 to the 1975 Act shall be exercisable in relation to the recognised body and its business in like manner as they are exercisable in relation to a solicitor and his practice.
F91A
For the purposes of this paragraph a relevant insolvency event occurs in relation to a recognised body if—
a
a resolution for a voluntary winding-up of the body is passed without a declaration of solvency under section 89 of the Insolvency Act 1986;
b
the body enters administration within the meaning of paragraph 1(2)(b) of Schedule B1 to that Act;
c
an administrative receiver within the meaning of section 251 of that Act is appointed;
d
a meeting of creditors is held in relation to the body under section 95 of that Act (creditors' meeting which has the effect of converting a members' voluntary winding up into a creditors' voluntary winding up);
e
an order for the winding up of the body is made.
2
F10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sch. 2 wholly in force at 1.1.1992 see s. 69(2) and S.I. 1991/2683, art. 2