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Part G – Commencement

 

The Solicitors' Accounts Rules 1998 have been replaced on the 6 October 2011 by the SRA Accounts Rules 2011 as part of the introduction of outcomes-focused regulation.

Go to SRA Handbook

Part G of the Solicitors' Accounts Rules was amended on 31 March 2009 as part of a general updating of the rules to introduce firm-based regulation and legal disciplinary practices as provided for in the Legal Services Act 2007.

 

Rule 50 – Commencement

The Solicitors' Accounts Rules 1998 took effect on 22 July 1998 and had to be implemented by 1 May 2000. They replaced the Solicitors' Accounts Rules 1991, the Solicitors' Accounts (Legal Aid Temporary Provision) Rule 1992 and the Accountant's Report Rules 1991.

  • (1)

    These rules must be implemented not later than 1st May 2000; until a practice implements these rules, it must continue to operate the Solicitors' Accounts Rules 1991.

  • (2)

    Practices opting to implement these rules before 1st May 2000 must implement them in their entirety, and not selectively.

  • (3)

    Part F of the rules (accountants' reports) will apply to:

    • (a)

      reports covering any period of time after 30th April 2000; and also

    • (b)

      reports covering any earlier period of time for which a practice has opted to operate these rules.

     
  • (4)

    The Accountant's Report Rules 1991 will continue to apply to:

    • (a)

      reports covering any period of time before 22nd July 1998; and also

    • (b)

      reports covering any period of time after 21st July 1998 and before 1st May 2000 during which a practice continued to operate the Solicitors' Accounts Rules 1991.

     
  • (5)

    If a practice operated the Solicitors' Accounts Rules 1991 for part of an accounting period, and these rules for the rest of the accounting period, the practice may, in respect of that accounting period ("the transitional accounting period") either:

    • (a)

      deliver a single accountant's report covering the whole of the transitional accounting period, made partly under the Accountant's Report Rules 1991 and partly under Part F of these rules, as appropriate; or

    • (b)

      deliver a separate accountant's report for each part of the transitional accounting period, one under the Accountant's Report Rules 1991 and the other under Part F of these rules; or

    • (c)

      deliver a report under the Accountant's Report Rules 1991 to cover that part of the transitional accounting period during which the practice operated the Solicitors' Accounts Rules 1991; and subsequently a report under Part F of these rules to cover the remaining part of the transitional accounting period plus the whole of the next accounting period; or

    • (d)

      deliver a report under the Accountant's Report Rules 1991 to cover the last complete accounting period during which the practice operated the Solicitors' Accounts Rules 1991 plus that part of the transitional accounting period during which the practice continued to operate those rules; and subsequently a report under Part F of these rules to cover the remaining part of the transitional accounting period.

     
  
7/1/2007 12:00:00 AM

Part G – Commencement

 

The Solicitors' Accounts Rules 1998 have been replaced on the 6 October 2011 by the SRA Accounts Rules 2011 as part of the introduction of outcomes-focused regulation.

Go to SRA Handbook

Part G of the Solicitors' Accounts Rules was amended on 31 March 2009 as part of a general updating of the rules to introduce firm-based regulation and legal disciplinary practices as provided for in the Legal Services Act 2007.

 

Rule 50 – Commencement

The Solicitors' Accounts Rules 1998 took effect on 22 July 1998 and had to be implemented by 1 May 2000. They replaced the Solicitors' Accounts Rules 1991, the Solicitors' Accounts (Legal Aid Temporary Provision) Rule 1992 and the Accountant's Report Rules 1991.

  • (1)

    These rules must be implemented not later than 1st May 2000; until a practice implements these rules, it must continue to operate the Solicitors' Accounts Rules 1991.

  • (2)

    Practices opting to implement these rules before 1st May 2000 must implement them in their entirety, and not selectively.

  • (3)

    Part F of the rules (accountants' reports) will apply to:

    • (a)

      reports covering any period of time after 30th April 2000; and also

    • (b)

      reports covering any earlier period of time for which a practice has opted to operate these rules.

     
  • (4)

    The Accountant's Report Rules 1991 will continue to apply to:

    • (a)

      reports covering any period of time before 22nd July 1998; and also

    • (b)

      reports covering any period of time after 21st July 1998 and before 1st May 2000 during which a practice continued to operate the Solicitors' Accounts Rules 1991.

     
  • (5)

    If a practice operated the Solicitors' Accounts Rules 1991 for part of an accounting period, and these rules for the rest of the accounting period, the practice may, in respect of that accounting period ("the transitional accounting period") either:

    • (a)

      deliver a single accountant's report covering the whole of the transitional accounting period, made partly under the Accountant's Report Rules 1991 and partly under Part F of these rules, as appropriate; or

    • (b)

      deliver a separate accountant's report for each part of the transitional accounting period, one under the Accountant's Report Rules 1991 and the other under Part F of these rules; or

    • (c)

      deliver a report under the Accountant's Report Rules 1991 to cover that part of the transitional accounting period during which the practice operated the Solicitors' Accounts Rules 1991; and subsequently a report under Part F of these rules to cover the remaining part of the transitional accounting period plus the whole of the next accounting period; or

    • (d)

      deliver a report under the Accountant's Report Rules 1991 to cover the last complete accounting period during which the practice operated the Solicitors' Accounts Rules 1991 plus that part of the transitional accounting period during which the practice continued to operate those rules; and subsequently a report under Part F of these rules to cover the remaining part of the transitional accounting period.

     
  
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