ABS applications now being considered – 15 believed to have been submitted already
Today marks the culmination of years of planning and speculation about Alternative Business Structures, otherwise known as ABS’s, which represent the biggest change to legal service provision since the advent of legal aid. Alternative Business Structures enable suitable non-lawyers to be involved in law firms and to provide legal services, subject to being regulated by the Solicitors Regulation Authority.
The interesting news today is that the SRA advises it is in discussions with some 15 prospective ABS entrants and that it expects the first licences to be granted by the end of February.
It has now been made clear that the process is as follows :-
- Applicant completes an online ‘expression of interest’ form
- The SRA will then prepare a bespoke application pack for that applicant
- The application fee is £2,000.00 plus an additional £150.00 per person intending to provide legal activities
- There is a “fit and proper person” check undertaken on individuals applying.
