(1)The regulatory arrangements of an approved regulator must not include any provision relating to redress.
(2)If at the time this subsection comes into force the regulatory arrangements of an approved regulator contravene subsection (1), any provision relating to redress included in those regulatory arrangements ceases to have effect at that time, subject to subsection (3).
(3)An order under section 211 which appoints a day for the coming into force of subsection (2) may include transitional provision in respect of any proceedings which, immediately before that day are awaiting determination under any provision relating to redress made by an approved regulator.
This subsection is without prejudice to any other transitional provision which may be made by or under this Act.
(4)For the purposes of this section “provision relating to redress” means any provision made in regulatory arrangements (whether it is statutory or non-statutory) for redress in respect of acts or omissions of authorised persons and any provision connected with such provision.
(5)Nothing in this section prevents an approved regulator making—
(a)provision in its regulatory arrangements of the kind required by section 112 (requirement for authorised persons to have complaints procedures etc),
(b)indemnification arrangements or compensation arrangements, or
(c)provision which by virtue of section 158 is not prohibited by this section.
(6)In subsection (4) “authorised person” means an authorised person in relation to any activity which is a reserved legal activity.
(7)This section applies to licensing rules made by the Board in its capacity as a licensing authority as it applies in relation to the regulatory arrangements of an approved regulator.
Modifications etc. (not altering text)
C1S. 157 restricted (7.3.2008) by 1985 c. 61 s. 43(3A) (as inserted by Legal Services Act 2007 (c. 29), ss. 177, 211 {Sch. 16 para. 84(3)} (with ss. 29, 192, 193)); S.I. 2008/222, art. 2(f)
C2S. 157 restricted by 1985 c. 61, s. 43(3A) (as inserted (1.10.2011) by Legal Services Act 2007 (c. 29), s. 211(2), Sch. 16 para. 84(3) (with ss. 29, 192, 193); S.I. 2011/2196, art. 2(1)(f))
Commencement Information
I1S. 157(1) (2) (4)-(7) in force at 6.10.2010 by S.I. 2010/2089, art. 2(a) (with arts. 5-8) (as amended (30.9.2011) by S.I. 2011/2196, art. 6)
I2S. 157(3) in force at 2.8.2010 by S.I. 2010/1118, art. 2(a)