SRA Standards and Regulations
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Found in
SRA Indemnity Fund Rules
Definitions and interpretation
The SRA Glossary shall apply and unless the context otherwise requires: all italicised terms shall be defined in accordance with the Glossary; terms shall be interpreted in accordance with the Glossary; a reference to a Rule is to a Rule forming part of these Rules, except in relation to Schedule 1 where a reference to a rule is to a rule in the Solicitors' Indemnity Rules 1999; the Schedule...
Found in
SRA Indemnity Fund Rules
Application of the Rules
These Rules shall apply to a practice carried on by: a sole solicitor; an REL practising as a sole practitioner; a recognised body; a partnership consisting of one or more solicitors and/or RELs and/or recognised bodies and/or licensed bodies; a partnership consisting of one or more solicitors and/or RELs, together with one or more RFLs; a licensed body in respect of its regulated activities.
Found in
SRA Authorisation of Firms Rules
Annex 1: Transitional arrangements under paragraph 7(3) of Schedule 5 to the LSA
A licensable body will be eligible to be a recognised body if as at 6 October 2011, it has been recognised by the SRA under section 9 of the AJA but has an interest holder or manager that is not a lawyer or a legally qualified body. It shall continue to be treated as a recognised body for the purposes of these rules and the SRA's regulatory arrangements until: such time as it ceases to comply...
Found in
SRA Authorisation of Firms Rules
Duration of authorisation
A body's authorisation takes effect from the date the certificate of authorisation is issued to it by the SRA. A body's authorisation shall cease to have effect: subject to Part 5, if the body ceases to exist; or if the body is a licensed body and is issued with a licence by another approved regulator. The SRA may revoke or suspend a body's authorisation, if: it is satisfied that the...
Found in
SRA Regulatory and Disciplinary Procedure Rules
Costs
An authorised decision maker may require a person who is the subject of a decision under rule 3.1(a) to (f) to pay a charge in accordance with Schedule 1 to these rules. The authorised decision maker may decide to charge less than the amount that would be payable in accordance with Schedule 1 if they consider that it would be just in all the circumstances to do so. Any charge must be paid by...
Found in
SRA Authorisation of Firms Rules
Approval of role holders
Subject to rules 13.2 to 13.4, the SRA may approve a person's designation as a COLP or COFA or to be a manager or owner of an authorised body if it is satisfied that the individual is fit and proper to undertake the role, in accordance with the SRA Assessment of Character and Suitability Rules. The SRA will deem a person to be fit and proper to be a manager or owner of an authorised body if...
Found in
SRA Overseas and Cross-border Practice Rules
Reporting, cooperation and accountability
You must cooperate with the SRA, other regulators, ombudsmen and those bodies in England and Wales, with a role overseeing and supervising the delivery of, or investigating in relation to, legal services. You must monitor compliance with these rules, and report any serious breach to the SRA when this occurs, or as soon as reasonably practicable thereafter. You must notify the SRA promptly if:...
Found in
SRA Overseas and Cross-border Practice Rules
Application
The Overseas Rules apply to you: as a regulated individual who is practising overseas, in place of the SRA Principles and the SRA Code of Conduct for Individuals; or as a responsible authorised body in that you must ensure that your overseas practice and the individual managers, members and owners that are involved in the day to day or strategic management of your overseas practice, comply...
Found in
SRA Accounts Rules
Withdrawals from client account
You only withdraw client money from a client account: for the purpose for which it is being held; following receipt of instructions from the client, or the third party for whom the money is held; or on the SRA's prior written authorisation or in prescribed circumstances. You appropriately authorise and supervise all withdrawals made from a client account. You only withdraw client money from a...
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