EXPLANATORY NOTE
(This note is not part of the Order)
This Order is made under section 69 of the Legal Services Act 2007 (c. 29) (“the 2007 Act”). It modifies the functions of the Institute of Chartered Accountants in England and Wales (“the Institute”).
Article 2 allows the Institute to make rules or regulations providing for appeals to the First-tier Tribunal against decisions made by the Institute in its role as an approved regulator, including in its capacity as a licensing authority.
Article 3 provides for the Institute to have the same intervention powers when acting as an approved regulator in relation to persons authorised by it as it has when acting as a licensing authority in relation to licensed bodies under Schedule 14 to the 2007 Act, with the modifications listed in paragraphs (2) and (3).
An impact assessment has been prepared for this instrument and can be found at www.legislation.gov.uk or obtained from the Head of Legal Services Policy, Law and Access to Justice Group, Ministry of Justice, 102 Petty France, London SW1H 9AJ.