Finance Act 2014

Disciplinary action by a professional body

8 (1) A person meets this condition if a professional body—

(a) determines that the person is guilty of misconduct of a kind prescribed for the purposes of this paragraph, and

(b) takes in relation to that misconduct action of a kind so prescribed, and

(c) imposes on the person a penalty of a kind so prescribed.

(2) Misconduct may only be prescribed for the purposes of sub-paragraph (1)(a) if it is misconduct other than misconduct in matters (such as the payment of fees) that relate solely or mainly to the person’s relationship with the professional body.

(3) A “professional body” means—

(a) the Institute of Chartered Accountants in England and Wales;

(b) the Institute of Chartered Accountants of Scotland;

(c) the General Council of the Bar;

(d) the Faculty of Advocates;

(e) the General Council of the Bar of Northern Ireland;

(f) the Law Society;

(g) the Law Society of Scotland;

(h) the Law Society for Northern Ireland;

(i) the Association of Accounting Technicians;

(j) the Association of Chartered Certified Accountants;

(k) the Association of Taxation Technicians;

(l) any other prescribed body with functions relating to the regulation of a trade or profession.