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Amendment of section 26 of Act of 1994
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201. Section 26 of the Act of 1994 is amended—
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(a) in subsection (1) —
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(i) by the substitution of “The Society may, with the consent of the Authority, make regulations” for “The Society may make regulations”,
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(ii) in paragraph (a), by the substitution of “solicitor,” for “solicitor, or”,
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(iii) in paragraph (b), by the substitution of “as a solicitor, or” for “as a solicitor.”, and
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(iv) by the insertion of the following paragraph after paragraph (b):
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“(c) by a solicitor arising from his practice as a solicitor in a legal partnership, multi-disciplinary practice or limited liability partnership (within the meaning of the Legal Services Regulation Act 2015).”,
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(b) by the insertion of the following new subsection after subsection (1):
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“(1A) In making indemnity regulations under subsection (1), regard shall be had to the objective of ensuring, in relation to solicitors in a legal partnership, multi-disciplinary practice or limited liability partnership referred to in paragraph (c) of that subsection, that there is adequate indemnity against losses in place in respect of each solicitor and other person in such partnership or practice concerned who is required to be covered.”.
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(c) in subsection (5), by the substitution of “the Authority” for “the Minister”, and
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(d) by the deletion of subsection (6).
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