PART II SPECIFIED ACTIVITIES

Chapter IIAccepting Deposits

Exclusions

Sums received by solicitors etc.7

C11

A sum is not a deposit for the purposes of article 5 if it is received by a practising solicitor acting in the course of his profession.

2

In paragraph (1), “practising solicitor" means—

a

a solicitor who is qualified to act as such under section 1 of the Solicitors Act 1974 M1, article 4 of the Solicitors (Northern Ireland) Order 1976 M2 or section 4 of the Solicitors (Scotland) Act 1980 M3;

b

a recognised body;

c

a registered foreign lawyer in the course of providing professional services as a member of a multi-national partnership; F1or

d

F2a Swiss lawyer who is a registered European lawyer; F3...

F3e

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3

In this article—

a

“a recognised body" means a body corporate recognised by—

i

the Council of the Law Society under section 9 of the Administration of Justice Act 1985 M4;

ii

the Incorporated Law Society of Northern Ireland under article 26A of the Solicitors (Northern Ireland) Order 1976 M5; or

iii

the Council of the Law Society of Scotland under section 34 of the Solicitors (Scotland) Act 1980;

b

“registered foreign lawyer" has the meaning given by section 89 of the Courts and Legal Services Act 1990 M6 or, in Scotland, section 65 of the Solicitors (Scotland) Act 1980 M7;

c

“multi-national partnership" has the meaning given by section 89 of the Courts and Legal Services Act 1990 but, in Scotland, is a reference to a “multi-national practice" within the meaning of section 60A of the Solicitors (Scotland) Act 1980 M8“registered European lawyer" has the meaning given by regulation 2(1) of the European Communities (Lawyer’s Practice) Regulations 2000 M9 or regulation 2(1) of the European Communities (Lawyer’s Practice) (Scotland) Regulation 2000 M10;F7...

d

“registered European lawyer” has the meaning given by regulation 2(1) of the European Communities (Lawyer’s Practice) Regulations 2000F5 or regulation 2(1) of the European Communities (Lawyer’s Practice) (Scotland) Regulation 2000F6; F8and

F4e

“Swiss lawyer” means a national of the United Kingdom or a Swiss national who—

i

immediately before IP completion day was authorised in Switzerland to pursue professional activities under the professional title of Avocat, Advokat, Rechtsanwalt, Anwalt, Fürsprecher, Fürsprech or Avvocato, or

ii

had started training towards but not yet obtained their professional qualifications before IP completion day in order to be authorised in Switzerland to pursue professional activities under one of the professional titles referred to in paragraph (i) but who completed their qualifications and were so authorised before the end of the period of four years beginning with IP completion day.