17 August 2018

BSB receives approval to license Alternative Business Structures

Our application to become a licensing authority for alternative business structures (ABS) has been approved by the Legal Services Board (LSB).

This means the LSB will recommend that the Lord Chancellor makes an order designating the Bar Council as a licensing authority. The Bar Council's regulatory functions are exercised independently by us.

BSB-licensed ABS will allow lawyers and non-lawyers to jointly own and manage businesses that provide reserved legal activities.

We intend to commence our ABS authorisation process from October 2016, but this cannot happen until the Lord Chancellor has approved the designation and the necessary secondary legislation is in place.

We will issue further information about this process and the likely timescales for implementation over the coming weeks.