Legal Services Act 2007 (c. 29)

[F1 PART 5A E+W Approved regulators: information powers

Textual Amendments

F1 Pt. 5A inserted (26.10.2023 for specified purposes, 4.3.2024 in so far as not already in force) by Economic Crime and Corporate Transparency Act 2023 (c. 56), ss. 210(2), 219(1)(2)(b); S.I. 2024/269, reg. 2(z64)

The Law Society’s information powers relating to economic crime E+W

111A The Law Society’s information powers relating to economic crime E+W

(1) The Law Society may, by notice, require a person falling within subsection (3) to—

(a) provide information, or information of a description, specified in the notice;

(b) produce documents, or documents of a description, specified in the notice.

(2) The Law Society may only exercise the power in subsection (1) in relation to information or documents which the Law Society considers it necessary or expedient to have for the purposes of, or in connection with, the performance of its regulatory functions for purposes relating to the prevention or detection of economic crime.

(3) The persons are—

(a) a solicitor;

(b) an employee of a solicitor;

(c) a body recognised under section 9 of the Administration of Justice Act 1985;

(d) an employee or manager of, or person with an interest in, such a body;

(e) a licensed body;

(f) a manager or employee of a licensed body;

(g) a non-authorised person who has an interest or an indirect interest, or holds a material interest (within the meaning of Part 5 of this Act), in a licensed body;

(h) a person who was, but is no longer, of a description mentioned within any of paragraphs (a) to (g).

(4) A notice under subsection (1)—

(a) may specify the manner and form in which the information is to be provided or document produced;

(b) must specify the period within which the information is to be provided or document produced;

(c) may require the information to be provided, or document to be produced, to the Law Society or to a person specified in the notice.

(5) The Law Society may pay to any person such reasonable costs as may be incurred by that person in connection with the provision of any information, or production of any document, by that person pursuant to a notice under subsection (1).

(6) The Law Society, or a person specified under subsection (4)(c) in a notice, may take copies of or extracts from a document produced pursuant to a notice under subsection (1).

(7) In this section “economic crime” has the meaning given by section 193(1) of the Economic Crime and Corporate Transparency Act 2023.]