Repeal, commencement and transitional provisions

Version 10 of the Handbook was published on 1 July 2014. For more information, please click "History" above.

Part 2: Repeal, commencement and transitional provisions

Rule 7: Repeal, commencement and transitional provisions

7.1

These rules repeal the Solicitors' Investment Business Rules 1995.

7.2

These rules come into force on 1 December 2001.

7.3

From 31 March 2012 or the date on which an order made pursuant to section 69 of the LSA relating to the status of sole practitioners comes into force, whichever is the later, these rules shall have effect subject to the following amendments:

(a)

in the preamble the words "and recognised sole practitioners" shall be omitted.

7.4

The rules shall not apply to licensed bodies until such time as the Law Society is designated as a licensing authority under Part 1 of Schedule 10 to the Legal Services Act 2007 and all definitions shall be construed accordingly.

7.5

In these rules references in the preamble to the Rules being made under section 83 of the Legal Services Act 2007 shall have no effect until the Law Society is designated as a licensing authority under Part 1 to Schedule 10 of the Legal Services Act 2007."

Rule 8: Interpretation

8.1

The SRA Handbook Glossary 2012 shall apply and, unless the context otherwise requires:

(a)

all italicised terms shall be defined; and:

(b)

all terms shall be interpreted,

in accordance with the Glossary.

8.2

In these rules references to statutes, rules, codes or regulations, statements or principles etc other than these rules include any modification or replacement thereof.

8.3

As the context requires, other words and expressions shall have the meanings assigned to them by the Interpretation Act 1978, FSMA and the SA.

8.4

References in these rules to activities carried on by a firm include activities carried on by an individual as sole principal, manager or employee of the firm.