(thanks to ceect.com)
Today the Law Society has agreed to allow the Solicitors' Regulation Authority (SRA) to become a licensing authority for Alternative Business Structures (ABS). The reason for my post title is that we weren't sure if the Law Society would actually do this.
The Law Society has kept everyone on tenterhooks. Whether it was the backwoodsmen who resolutely oppose ABS and consider them the devil's spawn, we won't know now. Until today the only committed ABS regulators were the Legal Executives and the Licensed Conveyancers, so it would have been ridiculous if the Law Society had said no. Solicitors are clearly going to form the largest number of ABS supporters initially.
Roll on October 6 when the legal world will change forever.