SRA will accept ABS applications from Jan 2012
updated on 06 December 2011
After missing the official start date of 6 October 2011, the SRA will be ready to begin accepting licensing applications for alternative business structures (ABS) from 3 January 2012 - with the first successful applicants expected to be announced in the second half of February (although this will be dependent on the complexity of the applications).
The order which names the SRA as a licensing authority for ABS has passed Parliament, and will be in force on 23 December, with the opening of the application process set for the first working day of the new year. The news will be welcomed by supporters of ABS, as the parliamentary delays which meant that the original start date was missed created a sense of uncertainty, drawing criticism from figures such as Professor Stephen Mayson, who dubbed the unpreparedness a "shambles".
The SRA's chief executive, Antony Townsend, said: "We welcome the news that we will become an ABS licensing authority from 23 December. This is a milestone that we have been working towards for nearly two years. It means the public can have confidence that ABS providing reserved legal activities will be regulated according to the same rigorous professional standards as traditional law firms."
