PART 4 continued
(3) The order may—
(a) provide for any provision of Schedule 14 (licensing authority’s powers of intervention)—
(i) to apply in relation to the Board (in its capacity as an approved regulator) and regulated persons as it applies in relation to a licensing authority and licensed bodies (or managers or employees of such bodies), or
(ii) to so apply with such modifications as are prescribed by the order, or
(b) make provision, in relation to the Board (in that capacity) and regulated persons, corresponding to any of the provisions made, in relation to licensing authorities and licensed bodies (or managers or employees of such bodies), by that Schedule.
(4) For the purposes of giving effect to indemnification arrangements and compensation arrangements, the order may authorise the Board to make rules—
(a) authorising or requiring the Board to establish and maintain a fund or funds;
(b) authorising or requiring the Board to take out and maintain insurance with authorised insurers;
(c) requiring relevant authorised persons or relevant authorised persons of any specific description to take out and maintain insurance with authorised insurers.
(5) In this section—
“authorised insurer” means a person within any of the following paragraphs—
a person who has permission under Part 4 of the Financial Services and Markets Act 2000 (c. 8) to effect or carry out contracts of insurance of a relevant class;
an EEA firm (within the meaning of that Act) of the kind mentioned in paragraph 5(d) of Schedule 3 to that Act, which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to effect or carry out contracts of a relevant class;
a person who does not fall within paragraph (a) or (b) and who may lawfully effect or carry out contracts of insurance of a relevant class in a member State other than the United Kingdom;
“regulated person” has the meaning given by section 21;
“relevant authorised person” means a person authorised by the Board (other than by the grant of a licence under Part 5) to carry on one or more activities which are reserved legal activities.
(6) For the purposes of this section—
(a) a contract of insurance is of a relevant class if it insures against a risk arising from accident, credit, legal expenses, general liability to third parties, sickness, suretyship or miscellaneous financial loss, and
(b) the definition of “authorised insurer” in subsection (5) must be read with section 22 of the Financial Services and Markets Act 2000, and any relevant order under that section, and with Schedule 2 to that Act.
(1) This section applies in relation to an order under section 62(1)(c) (cancellation of Board’s designation as an approved regulator).
(2) Where such an order is made, section 46 (other than subsection (4)(b)) and section 47 (transfer arrangements etc on cancellation of approved regulator’s designation) apply in relation to the Board and relevant authorised persons as they apply to an approved regulator whose designation is cancelled under section 45 and persons authorised by that approved regulator to carry on activities which are reserved legal activities.
(3) In this section “relevant authorised persons” has the same meaning as in section 64.
(1) The Board may recommend to the Lord Chancellor that the Lord Chancellor make an order under section 62 in the form of a draft order prepared by the Board and annexed to the recommendation.
(2) Before making a recommendation under this section, the Board must give each of the persons listed in subsection (3) a notice containing—
(a) a copy of the proposed recommendation,
(b) a copy of the proposed draft order, and
(c) a statement specifying a period within which representations may be made about the proposals.
(3) Those persons are—
(a) the Lord Chancellor,
(b) the OFT,
(c) the Consumer Panel,
(d) the Lord Chief Justice, and
(e) such other persons as the Board considers it reasonable to consult regarding the proposals.
(4) The Board must publish a notice given under subsection (2).
(5) Before making the recommendation, the Board must have regard to any representations duly made (whether by persons within subsection (3) or otherwise).
(6) If the draft order to be annexed to the recommendation differs from the draft contained in the notice under subsection (2) in a way which is, in the opinion of the Board, material, the Board must, before making the recommendation, publish the draft order along with a statement detailing the changes made and the reasons for those changes.
(1) The powers of the Board under sections 31 to 51 and 55 (regulatory powers in respect of approved regulators) are not exercisable by it in relation to the Board in its capacity as an approved regulator.
(2) In section 53 references to an approved regulator do not include the Board in its capacity as an approved regulator.
(3) Sections 57 to 61 (reports by OFT etc) do not apply in relation to the Board in its capacity as an approved regulator.
(1) An approved regulator may make a request under subsection (4) if it considers that the regulatory arrangements of the Board (in its capacity as an approved regulator) do not make appropriate provision to prevent a conflict between—
(a) a requirement of those regulatory arrangements, and
(b) a requirement of the regulatory arrangements of the approved regulator.
(2) An affected person in relation to an approved regulator may request the approved regulator to exercise its powers under subsection (1).
(3) An affected person in relation to the Board may make a request under subsection (4) if the person considers that the regulatory arrangements of the Board (in its capacity as an approved regulator) do not make appropriate provision to prevent a conflict between—
(a) a requirement of those regulatory arrangements, and
(b) a requirement of the regulatory arrangements of an approved regulator.
(4) The request is a request made to the Board (in its capacity as an approved regulator) that it reconsider the provision made by its regulatory arrangements to prevent a regulatory conflict with the conflicting regulator.
(5) An affected person in relation to the Board may make an application under subsection (6) if the person considers that the regulatory arrangements of an approved regulator do not make appropriate provision to prevent a conflict between—
(a) a requirement of those regulatory arrangements, and
(b) a requirement of the regulatory arrangements of the Board (in its capacity as an approved regulator).
(6) The application is an application to the Board for it to exercise its powers under section 32 to direct the approved regulator—
(a) to take steps to modify, in such manner as may be specified in the direction, the provision made by its regulatory arrangements to prevent a regulatory conflict with the Board (in its capacity as an approved regulator), or
(b) if its regulatory arrangements do not make any such provision, to make such provision as may be specified in the direction to prevent such a conflict.
(7) An affected person in relation to an approved regulator (other than the Board) may make a request under subsection (8) if the person considers that the regulatory arrangements of the approved regulator do not make appropriate provision to prevent a conflict between—
(a) a requirement of those regulatory arrangements, and
(b) a requirement of the regulatory arrangements of the Board (in its capacity as an approved regulator).
(8) The request is a request to the approved regulator that it reconsider the provision made by its regulatory arrangements to prevent a regulatory conflict with the Board.
(9) The Board (in its capacity as an approved regulator) and any other approved regulator must consider any request made to it under this section.
(10) Subsections (5) to (8) of section 53 apply in relation to an application under subsection (6) as they apply in relation to an application under that section, except that—
(a) references to the applicant regulator are to be read as references to the person who made the application, and
(b) references to the conflicting regulator are to be construed in accordance with this section.
(11) In this section—
“affected person” in relation to the Board or any other approved regulator, means—
any person authorised by the body to carry on a reserved legal activity, or
an employee or manager of such a person;
“conflicting regulator” means—
in a case within subsection (1), the approved regulator making the request, and
in a case within subsection (3) or (5), the approved regulator whose regulatory arrangements are considered to conflict with those of the Board.
(1) The Lord Chancellor may by order modify, or make other provision relating to, the functions of an approved regulator or any other body (other than the Board).
(2) The Lord Chancellor may make an order under subsection (1) only if—
(a) the Board has made a recommendation under this section,
(b) a draft order was annexed to the recommendation, and
(c) the order is in the same form as, or a form not materially different from, that draft order.
(3) The Board may make a recommendation under this section only with a view to an order being made which enables the body to which it relates to do one or more of the following—
(a) to become designated by an order under Part 2 of Schedule 4 as an approved regulator, or designated by an order under Part 1 of Schedule 10 as a licensing authority, in relation to one or more reserved legal activities;
(b) to authorise persons or any category of persons (whether corporate or unincorporate) to carry on one or more activities which are reserved legal activities in relation to which the body is (at the time the authorisation has effect) designated as an approved regulator, or to make regulatory arrangements;
(c) to carry out its role as an approved regulator (including its role, if any, as a licensing authority) more effectively or efficiently;
(d) to become a qualifying regulator under Part 1 of Schedule 18;
(e) if it is a designated qualifying regulator under section 86A of the Immigration and Asylum Act 1999 (c. 33), to authorise persons to provide any additional advice or services the provision of which amounts to the provision of immigration advice or immigration services.
(4) Subsections (2) (other than paragraph (a)), (3) and (4) of section 64 apply in relation to an order under this section as they apply in relation to an order under section 62(1)(b) in relation to the Board.
(5) An order under this section also may make provision in relation to—
(a) the provision of immigration advice or immigration services, and
(b) persons authorised to provide such advice and services by the body to which the order relates,
corresponding to the provision which may be made by virtue of section 64(2) to (4) in relation to reserved legal activities and persons authorised to carry on those activities.
(6) An order under this section may modify provisions made by or under any enactment (including this Act or any Act passed after this Act), prerogative instrument or other instrument or document.
(7) Any provision made by an order under this section may be expressed to be conditional upon—
(a) the body to which the order relates being designated by an order under Part 2 of Schedule 4 as an approved regulator, or by an order under Part 1 of Schedule 10 as a licensing authority, in relation to one or more reserved legal activities specified in the proposed draft order, or
(b) the body to which the order relates becoming a designated qualifying regulator under section 86A of the Immigration and Asylum Act 1999 (c. 33).
(8) The powers to make an order conferred by this section are without prejudice to any powers (statutory or non-statutory) which an approved regulator or other body may have apart from this section.
(1) A recommendation may be made under section 69 only with the consent of the approved regulator or other body to which the recommendation relates.
(2) Before making a recommendation under that section, the Board must publish a draft of—
(a) the proposed recommendation, and
(b) the proposed draft order.
(3) The draft must be accompanied by a notice which states that representations about the proposals may be made to the Board within a specified period.
(4) Before making the recommendation, the Board must have regard to any representations duly made.
(5) If the draft order to be annexed to the recommendation differs from the draft published under subsection (2)(b) in a way which is, in the opinion of the Board, material, the Board must, before making the recommendation, publish the draft order along with a statement detailing the changes made and the reasons for those changes.