SRA

means the Solicitors Regulation Authority

person

includes a body of persons (corporate or unincorporated)

COLP

means compliance officer for legal practice and in relation to a licensable body is a reference to its HOLP

COFA

means a compliance officer for finance and administration and in relation to a licensable body is a reference to its HOFA

manager

means:

1. the sole principal in a recognised sole practice;
2. a member of a LLP;
3. a director of a company;
4. a partner in a partnership; or
5. in relation to any other body, a member of its governing body

owner

means, in relation to a body, a person with any interest in the body, save that:

1. in the SRA Authorisation of Firms Rules, and the SRA Authorisation of Individuals Regulations, owner means any person who holds a material interest in an authorised body, and in the case of a partnership, any partner regardless of whether they hold a material interest in the partnership; and
2. for the purposes of the SRA Principles and the SRA Code of Conduct for Firms means a person who holds a material interest in the body; and
3. for the purposes of the SRA Assessment of Character and Suitability Rules includes owners who have no active role in the running of the business as well as owners who do,

and "own" and "owned" shall be construed accordingly

material interest

has the meaning given to it in Schedule 13 to the LSA

licensed body

means a body licensed by the SRA under section 71(2) of the LSA in accordance with the SRA Authorisation of Firms Rules

authorised decision maker

in relation to a decision, means a person authorised to make that decision by the SRA under a schedule of delegation