Legal Services Bill [Lords]

With this it will be convenient to discuss the following amendments: No. 65, in clause 71, page 41, line 30, after first ‘activities’, insert ‘(other than notarial activities)’. Government amendment No. 85. No. 156, in clause 83, page 49, line 13, at end insert— ‘(da) appropriate provisions reinforcing the independence and integrity of the legal professionals concerned,’. Government amendment No. 86. No. 148, in clause 108, page 59, line 21, leave out subsection (2) and insert— ‘(2) The management condition is that— (a) the number of managers of the body who are non-authorised persons is less than 25 per cent. of the total number of managers; or (b) the managers who are non-authorised individuals who provide services directly or indirectly to clients within their own professional training, are members of one or more recognised professional bodies and do not account for more than 50 per cent. on a headcount of managers.’. Government amendment No. 87 No. 149, in page 59, line 23, leave out subsection (3) and insert— ‘(3) The ownership condition for B satisfying the management condition set out in subsection 2(a) is that— (a) only managers of B can hold shares or exercise voting rights or control unless they are authorised persons, and (b) the proportion of shares in B held by persons who are non-authorised managers is less than 25 per cent., and (c) the proportion of the voting rights in B which persons who are non-authorised managers are entitled to exercise, or control the exercise of, is than 25 per cent., and (d) if B has a parent undertaking (““P””)— (i) the proportion of shares in P held by persons who are non-authorised managers is less than 25 per cent., and (ii) the proportion of the voting rights in P which non-authorised non managers are entitled to exercise, or control the exercise of, is less than 25 per cent.’. Government amendments Nos. 88 to 92. No. 150, in page 59, line 33, at end insert— ‘(3A) The ownership condition for B satisfying the management condition set out in subsection 2(b) is that shares and voting rights in B— (a) are only held by authorised persons, or managers who are members of recognised professional bodies, and (b) the percentage of shares held or proportion of voting rights exercised by non-authorised managers does not account for more than 50 per cent.’. No. 151, in page 59, line 36, at end insert— ‘(4A) For the purposes of this section ““recognised professional body”” means a body (other than an approved regulator), incorporated by Royal Charter, and which makes provision for— (a) testing the competence of those seeking admission to membership of the body as a condition for such admission; and (b) imposing and maintaining professional and ethical standards for its members, as well as imposing sanctions for non-compliance with those standards. ““member”” of a recognised professional body means a member or member firm as defined by the appropriate rules of such a body.’.