Setting the maximum financial penalty for ABS licensing

 

Consultation from the Legal Services Board (LSB) on the amount of the limit on penalties which a Licensing Authority can impose on an Alternative Business Structure. The process for setting the limit is set out in the Legal Services Act 2007 which requires the LSB to make rules prescribing the maximum penalty, by statutory instrument with the approval of the Lord Chancellor. The consultation paper outlined the LSB’s considerations for setting the maximum penalty and included a draft statutory instrument. The consultation closed on 24 January 2010.

 

You can read the consultation document here.

 

You can read the response of IPS here.