Solicitors Regulation Authority (SRA) to miss the deadline for the Alternative Business Structures (ABS)

The Ministry of Justice has confirmed that the Solicitors Regulation Authority will miss its 6th October deadline for an ABS licence.

Government sources confirm that the licence is not likely to be granted until much later this year, with the issue not due to be debated until the end of October at the earliest. A Ministry of Justice spokesman said: "Before the Solicitors Regulation Authority can be designated as a licensing authority, it is necessary to have appeal arrangements for Alternative Business Structures in place. Work on the appeal arrangements is ongoing and will be debated after the summer recess."

The Council for Licensed Conveyancers is likely to be granted a licence by 6th October, as it has not applied for the same arrangements as the SRA. This means that it will still be possible for ABSs to come into being on 6 October if they are regulated by the CLC.

SRA chair Charles Plant told board members last month that the regulator had completed its preparations for the change. He called for early confirmation of the timetable from the Ministry of Justice, so that those planning to become ABSs can have 'clarity' about the starting date for the new regime.

Further details on Alternative Business Structures can be found on the Law Society website.