1(1)The Lord Chancellor may, in accordance with the provisions of this Schedule, make rules with respect to the recognition by him of institutions as being suitable to undertake the provision of conveyancing services.
(2)In this Schedule—
"institution" means any building society or other body corporate or any unincorporated association;
"officer", in relation to a recognised institution which is a body corporate, includes a director, manager or secretary ;
" recognised institution " means an institution for the time being recognised under this Schedule ;
" recognised practitioner" means a sole practitioner for the time being recognised under this Schedule ;
" recognition rules " means rules made by the Lord Chancellor under this Schedule ;
" sole practitioner " means an individual carrying on a business or profession otherwise than as a member of an unincorporated association ;
" unincorporated association " means a partnership or any other association of two or more persons which is not a body corporate.
(3)References in this Schedule to conveyancing services are references to the preparation of transfers, conveyances, contracts and other documents in connection with, and other services ancillary to, the disposition or acquisition of estates or interests in land ; and for the purposes of this sub-paragraph—
(a)"disposition"—
(i)does not include a testamentary disposition or any disposition in the case of such a lease as is referred to in section 54(2) of the [1925 c. 20.] Law of Property Act 1925 (short leases); but
(ii)subject to that, includes in the case of leases both their grant and their assignment; and
(b)" acquisition " has a corresponding meaning.