Will non lawyers be able to be owners without working in the firm
Important: The FAQs below were written and published before the introduction of the SRA Handbook on 6 October 2011, and may refer to regulatory material that is no longer in effect. Although they may still be relevant, these FAQs have not yet been reviewed in light of the wide-ranging regulatory changes implemented on 6 October. They will be reviewed and updated (or archived) in due course.
Will non lawyers be able to be owners without working in the firm?
Yes. The current restrictions that require a non-lawyer owner of an LDP also to be a manager
of it will not apply to an ABS so a non-lawyer could be just an investor.