Recognised Body

a body corporate or incorporate recognised by the CLC under s.32 of the 1985 Act to provide regulated services  to the public.

Recognised Course

a course, lecture, seminar or other programme or activity approved or run by the CLC. 

Registered Student

a person who has registered as a Student with the CLC in accordance with its Student Training Framework.

Regulated Activities

under the Acting as Insurance Intermediaries Code, any of the activities specified under Part II (Specified Activities) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) as amended which is carried on by way of business in relation to an investment of a kind specified in Part III (Specified Investments) of the same Order.

Regulated Entity

a Company (firm of practice) regulated by The Council for Licensed Conveyancers.

Regulated Services

all of the legal activities – both reserved legal activities and non-reserved - which the CLC authorises/permits the Licensed Conveyancer, or Body, within the terms of the licence to provide, and which are therefore regulated by the CLC.

Regulatory Arrangements

the sum of Codes, Guidance, Frameworks and Policies, which set out the responsibilities of the Regulated Community and our approach to regulation. 

Regulatory Objectives

the regulatory objectives are set out in Part 1 of the 2007 Act:

  1. protecting and promoting the public interest
  2. supporting the constitutional principle of the rule of law
  3. improving access to justice
  4. protecting and promoting the interests of consumers
  5. promoting competition in the provision of services*
  6. encouraging an independent, strong, diverse and effective legal profession
  7. increasing public understanding of the citizen’s legal rights and duties
  8. promoting and maintaining adherence to the professional principles.

* services provided by Authorised Persons

Reporting Accountant

an accountant qualified in accordance with requirements 16.5-16.7 of the Accounts Code, instructed by the CLC regulated individual or body to prepare and sign an Accountant’s Report.

Reserved Activity

the activities defined in the Legal Services Act (2007) that only authorised (qualified) persons are allowed to undertake.

Respondent - Enf

under the Enforcement Policy this means a CLC regulated individual or body in respect of which a misconduct allegation has been made, or a potential compliance breach identified.  

Respondent Body - CF

under the Compensation Fund Operating Framework this means a CLC regulated individual or body in respect of which a compensation claim is made.

Review Panel

as provided in the Alternative Business Structures (Procedure) Rules to review determinations made by the Adjudication Panel where the Adjudication Panel has made a determination in respect of a matter which has not previously been determined by Authorised Officer  (ie Adjudication Panel has made a first instance determination).

Rightful Recipient

the person beneficially entitled to receive monies held by the CLC regulated individual or body, or any sum vested in the CLC under paragraph 6 or 6A(3) of schedule 5 to the 1985 Act.

Risk-Based/Risk Profile

our regulatory approach is based on the assessment of the risk to delivery of positive Outcomes, which an applicant, or CLC regulated individual or body presents. This will inform the risk profile we hold on them, which in turn informs our regulatory relationship with them.

risk is measured in terms of a combination of the probability of a perceived threat or opportunity occurring and the extent of its impact in determining what (if any) action we will take.