237.Paragraphs 1 to 5 adjust sections 3A to 3G of the 1980 Act in consequence of the requirements of a category 1 regulator imposed under Chapter 2 of Part 1.
238.The main changes are to sections 3B and 3F. Section 3B requires the Council of the Law Society (“the Council”) to delegate the regulatory functions of the Law Society to its regulatory committee and ensure that the regulatory committee is able to carry out those functions to the exclusion of the Council. Section 3F defines the regulatory functions of the Law Society. This definition follows the definition of regulator functions that applies in section 7 of the Act and particularises it to the precise span of regulation of the Council.
239.Section 3C, which makes provision for the membership of the regulatory committee and its exercise of regulator functions, is repealed. The provisions in Chapter 2 in relation to those matters will apply instead.
240.Sections 3A and 3G of the 1980 Act are consequentially amended to reflect the other changes.
Schedule 1 – Law Society of Scotland Exercise of regulatory functions