Part 3Reserved legal activities

Interpretation

I120Approved regulators and relevant approved regulators

1

In this Act, the following expressions have the meaning given by this section—

  • “approved regulator”;

  • “relevant approved regulator”.

2

“Approved regulator” means—

a

a body which is designated as an approved regulator by Part 1 of Schedule 4 or under Part 2 of that Schedule (or both) and whose regulatory arrangements are approved for the purposes of this Act, and

b

if an order under section 62(1)(a) has effect, the Board.

3

An approved regulator is a “relevant approved regulator” in relation to an activity which is a reserved legal activity if—

a

the approved regulator is designated by Part 1, or under Part 2, of Schedule 4 in relation to that reserved legal activity, or

b

where the approved regulator is the Board, it is designated in relation to that reserved legal activity by an order under section 62(1)(a).

4

An approved regulator is a “relevant approved regulator” in relation to a person if the person is authorised by the approved regulator to carry on an activity which is a reserved legal activity.

5

Schedule 4 makes provision with respect to approved regulators other than the Board.

In that Schedule—

a

Part 1 designates certain bodies as approved regulators in relation to certain reserved legal activities,

b

Part 2 makes provision for bodies to be designated by order as approved regulators in relation to one or more reserved legal activities, and

c

Part 3 makes provision relating to the approval of changes to an approved regulator's regulatory arrangements.

6

An approved regulator may authorise persons to carry on any activity which is a reserved legal activity in respect of which it is a relevant approved regulator.