Part 3Reserved legal activities
Interpretation
I118Authorised persons
1
For the purposes of this Act “authorised person”, in relation to an activity (“the relevant activity”) which is a reserved legal activity, means —
a
a person who is authorised to carry on the relevant activity by a relevant approved regulator in relation to the relevant activity (other than by virtue of a licence under Part 5), or
I3b
a licensable body which, by virtue of such a licence, is authorised to carry on the relevant activity by a licensing authority in relation to the reserved legal activity.
I22
A licensable body may not be authorised to carry on the relevant activity as mentioned in subsection (1)(a).
I23
But where a body (“A”) which is authorised as mentioned in subsection (1)(a) becomes a licensable body, the body is deemed by virtue of this subsection to continue to be so authorised from that time until the earliest of the following events—
a
the end of the period of 90 days beginning with the day on which that time falls;
b
the time from which the relevant approved regulator determines this subsection is to cease to apply to A;
c
the time when A ceases to be a licensable body.
I24
Subsection (2) is subject to Part 2 of Schedule 5 (by virtue of which licensable bodies may be deemed to be authorised as mentioned in subsection (1)(a) in relation to certain activities during a transitional period).
I35
A person other than a licensable body may not be authorised to carry on the relevant activity as mentioned in subsection (1)(b).
I36
But where a body (“L”) which is authorised as mentioned in subsection (1)(b) ceases to be a licensable body, the body is deemed by virtue of this subsection to continue to be so authorised from that time until the earliest of the following events—
a
the end of the period of 90 days beginning with the day on which that time falls;
b
the time from which the relevant licensing authority determines this subsection is to cease to apply to L;
c
the time when L becomes a licensable body.