18.This Part sets out the new regulatory framework for the regulation of legal services. In doing so, the framework brings together several existing pieces of legal regulation, categorises regulators and imposes a set of requirements that will apply to those regulators according to the category into which they are assigned.
19.Part 1 of schedule 1 of the Act contains a range of amendments to the 1980 Act to adjust the constitution and functions of the Law Society to reflect that it is assigned as a category 1 regulator. However, it is necessary to read both the Act and the 1980 Act to get the full picture as to the Law Society’s obligations.
Background Part 1 – Regulatory Framework