Bar Standards Board approved to become a licensing authority for alternative business structures
The Legal Services Board (LSB) has approved the application by the Bar Standards Board, the Bar Council’s regulatory authority, to become a licensing authority for alternative business structures (ABSs).
This means the LSB will recommend that the Lord Chancellor makes an order designating the Bar Council as a licensing authority.
BSB-licensed ABSs will allow lawyers and non-lawyers jointly to own and manage businesses that provide legal activities.
The BSB intends to commence its ABS application process from October 2016, but this cannot happen until the Lord Chancellor has approved the designation and the necessary secondary legislation is in place.
The BSB will issue further information about this process and the likely time scales for implementation over the coming weeks.
Direct Access Barrister - myBarrister