SRA Handbook

Further conditions

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Version 3 of the Handbook was published on 20/04/2012. For more information, please click 'History' Above

Rule 9: Further conditions

9.1

The SRA may at any time impose one or more further conditions on an authorisation if it considers:

(a)

that:

(i)

the condition would limit, restrict, halt or prevent an activity or activities on the part of the body, or of a manager, employee, or interest holder of the body, which is putting or is likely to put at risk the interests of clients, third parties or the public;

(ii)

the condition would prevent or limit the activities of a manager or employee of the body who is considered unsuitable to undertake a particular activity, either at all or save as specified in the condition;

(iii)

the condition would limit, halt or prevent a risk to clients, third parties or the public arising from a business agreement or association which the body has or is likely to enter into, or a business practice which the body has or is likely to adopt;

(iv)

a relevant insolvency event has occurred in relation to the body but the SRA does not propose at that time to suspend or revoke the authorisation under Rule 22;

(v)

the condition is necessary to facilitate effective monitoring by the SRA of compliance with its regulatory arrangements on the part of the body, its managers, employees or interest holders;

(vi)

the SRA considers that imposing the condition will require the body concerned to take specified steps conducive to the proper, effective or efficient carrying on of a legal activity by that body; or

(vii)

the SRA considers that imposing a condition is necessary in order to ensure compliance with the regulatory objectives;

and

(b)

that it is in the public interest to impose the condition.

9.2

A condition imposed under Rule 9.1 takes effect from the date on which the condition is imposed unless otherwise specified by the SRA.

Guidance note

(i)

Rule 9.1 permits the SRA to impose conditions "at any time", if certain criteria are met. This includes on the approval of a person under Part 4 of these rules or at the time of modification of the terms of an authorisation under Rule 10.