Scottish solicitors vote for ‘Tesco law’
The motion were narrowly passed in favour of allowing what are called alternative business structures. The motion was ratified as policy at a meeting immediately following the AGM.
It was agreed that Scottish Government ministers and MSPs should be informed that substantial numbers of its members still oppose alternative business structures (ABS) completely or believe that only a 25% minority of non-solicitors should be permitted to own law firms.
Currently only solicitors can own and run law firms in Scotland.
The Law Society Council’s motion allows ABSs as long as they are a majority (so 51% minimum) solicitor or solicitor and other regulated professional owned and would allow up to 49% external capital and was carried with 1486 votes in favour.