Background Licensed legal services providers Section 87 – Majority ownership
209.This section repeals section 49 of the 2010 Act.
210.Before its repeal, that provision provided that an entity is eligible to be a licensed legal services provider under Part 2 of the 2010 Act if the qualifying investors (solicitor investors or investors who are members of another regulated profession) in the entity had (taken together) at least a 51% stake in the total ownership or control of the entity.