“Schedule 4 to the Legal Services Act 2007 (‘the Act’) provides that Approved Regulators must obtain approval from the Legal Services Board (LSB) to alter any of their Regulatory Arrangements. The LSB has issued a notice, referred to as a “warning notice” under Paragraph 21(1)(b) of Schedule 4 to the Act, in respect of the BSB’s application to alter its regulatory arrangements concerning aspects of the Cab Rank Rule. The notice has been given because the LSB is considering whether to refuse the application. The LSB may now invite advice from other parties and has a period of up to 18 months from Friday 20 January 2011 to reach a decision.”
Legal Services Board, 23rd January 2012
Source: www.legalservicesboard.org.uk
