SRA Handbook

Authorised bodies which are companies

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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.