LDPs post 6 October 2011
What has happened to LDPs post 6 October 2011?
On 6 October 2011 Part 5 of the Legal Services Act 2007 came into effect. Part 5 of the Legal Services Act 2007 allows the introduction of Alternative Business Structures (ABS).
On 6 October 2011 both the CLC and the SRA implemented their ABS framework and stopped accepting applications for new non-lawyer manager LDPs (NLM LDPs). (Please note that the CLC was accepting ABS applications from 6 October 2011 whereas the SRA started accepting applications from 6 January 2012). All bodies that are ‘licensable’ under the Legal Services Act 2007 must now apply to a Licensing Authority to become authorised as an ABS.
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