Part 3Reserved legal activities
Interpretation
I120Approved regulators and relevant approved regulators
1
In this Act, the following expressions have the meaning given by this section—
“approved regulator”;
“relevant approved regulator”.
2
“Approved regulator” means—
a
a body which is designated as an approved regulator by Part 1 of Schedule 4 or under Part 2 of that Schedule (or both) and whose regulatory arrangements are approved for the purposes of this Act, and
b
if an order under section 62(1)(a) has effect, the Board.
3
An approved regulator is a “relevant approved regulator” in relation to an activity which is a reserved legal activity if—
a
the approved regulator is designated by Part 1, or under Part 2, of Schedule 4 in relation to that reserved legal activity, or
b
where the approved regulator is the Board, it is designated in relation to that reserved legal activity by an order under section 62(1)(a).
4
An approved regulator is a “relevant approved regulator” in relation to a person if the person is authorised by the approved regulator to carry on an activity which is a reserved legal activity.
5
Schedule 4 makes provision with respect to approved regulators other than the Board.
In that Schedule—
a
Part 1 designates certain bodies as approved regulators in relation to certain reserved legal activities,
b
Part 2 makes provision for bodies to be designated by order as approved regulators in relation to one or more reserved legal activities, and
c
Part 3 makes provision relating to the approval of changes to an approved regulator's regulatory arrangements.
6
An approved regulator may authorise persons to carry on any activity which is a reserved legal activity in respect of which it is a relevant approved regulator.