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  3. SRA Handbook
  4. v12
  5. Authorisation and Practising Requirements
  6. Practice Framework Rules
  7. Formation and eligibility criteria for recognised bodies and licensed bodies
  8. Authorised bodies which are companies

The SRA Handbook is no longer in effect. It was replaced by the SRA Standards and Regulations on 25 November 2019.

SRA Handbook

Authorised bodies which are companies

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Version 12 of the Handbook was published on 31/10/2014. For more information, please click 'History' Above

Rule 17: Authorised bodies which are companies

Record of non-member shareowners

17.1

Keeping a record

(a)

A recognised body which is a company with shares must keep a record of any non-member interest holders, and retain the record for at least three years after their interest ceases;

(b)

A licensed body which is a company with shares must keep a record of any non-member owners, and retain the record for at least three years after their ownership ceases.

17.2

A member who holds a share as nominee for a non-member shareowner in an authorised body must keep the authorised body informed of all facts necessary to keep an accurate and up-to-date record in accordance with Rule 17.1.

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