Outside ownership of law firms looks set to be delayed until the end of the year, with the Solicitors Regulation Authority (SRA) confirming that it will not be able to start licensing Alternative Business Structures (ABSs) by 6 October as initially planned. The SRA has been informed by the Ministry of Justice (MoJ) that necessary parliamentary processes will not be completed in time for the October date, with the required primary legislation yet to be debated in parliament.
July 27, 2011 at 09:04 AM
1 minute read
The original version of this story was published on Legalweek
Outside ownership of law firms looks set to be delayed until the end of the year, with the Solicitors Regulation Authority (SRA) confirming that it will not be able to start licensing Alternative Business Structures (ABSs) by 6 October as initially planned.
The SRA has been informed by the Ministry of Justice (MoJ) that necessary parliamentary processes will not be completed in time for the October date, with the required primary legislation yet to be debated in parliament.
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