Part 4

Regulation of approved regulators

The Board as approved regulator

The Board's designation under section 62(1)(a)
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1
This section applies in relation to an order under section 62(1)(a)
(an order designating the Board as an approved regulator).
2
Subject to subsection (3), the order may designate the Board as an approved regulator in relation to a reserved legal activity only where—
a
a body's designation as an approved regulator in relation to the activity is cancelled under section 45, or
b
the activity becomes a reserved legal activity by virtue of an order under section 24.
3
Subsection (2) does not prevent the order having effect in advance of an event within paragraph (a) or (b) of that subsection for the purpose of enabling the Board to authorise persons to carry on activities which constitute the reserved legal activity in question with effect from the occurrence of the event.
4
The order must ensure that the Board, acting as an approved regulator, may make regulatory arrangements or modify its regulatory arrangements only with the approval of the Board (acting otherwise than in its capacity as an approved regulator or as a licensing authority under Part 5).