Legislation round-up

In force
N/A

Legislation
Legal Services Act 2007 (Functions of a Designated Regulator) Order 2008 (SI 2008/Draft)

Summary
Amends the Administration of Justice Act 1985, s 9(A), which defines the term “legal services body” to give the Law Society the power to regulate the management and control of legal services bodies. Section 9A defines the term by reference to the satisfaction of a management and control condition and a relevant lawyer condition and allows legal services bodies to have up to 25% non-lawyer managers and owners. Removes the restriction on the number of corporate tiers permissible for legal services bodies. Gives the Law Society the power to make rules expanding the category of what it is to be “legally qualified” for the purpose of satisfying the management and control condition. Also ensures that legal partnerships and recognised bodies in existence at the date of commencement of s 9A should, subject to certain restrictions, be regarded as “legally qualified”.

In force
13 Nov 2008

Legislation
Stamp Duty and Stamp Duty Reserve Tax (Investment Exchanges and Clearing Houses) Regulations 2008 (SI 2008/2777)

Summary
Traded securities which are the subject of an agreement shall be dealt with by a clearing participant who is party to the agreement in a separate designated account.

In force
1 Dec 2008

Legislation
Employment Tribunals (Constitution and Rules of Procedure) (Amendment) Regulations 2008 (SI 2008/2771)

Summary
Provide for the appointment of a president of employment tribunals in England and Wales and a president of employment tribunals in Scotland and for a panel of full and part-time chairmen of employment tribunals in England and Wales and in Scotland. Outline eligibility to hold office as a chairman of an employment tribunal in England, Wales and Scotland.