Lawyers’ regulatory bodies to retain major powers but limited liability on the way

The Bar Council of Ireland and Law Society of Ireland are set to retain major powers following further amendments to the draft Legal Services Regulation Bill.

Justice Minister Frances Fitzgerald will today ask the Cabinet to agree a series of amendments to the bill, which will overcome the most significant objections raised by the representative bodies for barristers and solicitors, The Irish Times reports.

A new Legal Services Regulatory Authority, with oversight of barristers and solicitors, will still be established. However, it will work closely with the Law Society, which will retain financial and accounting oversight of solicitors.

Complaints made to the new regulatory authority about misconduct by solicitors will be referred to the Law Society of Ireland for investigation and enforcement.

Under the bill, solicitor firms and legal partnerships will have the option of operating with limited liability for the first time, subject to stronger oversight from the authority.

Amendments put forward today would mean the Bar Council will not be compelled to accept members who practice within new business models like legal partnerships, multi-disciplinary practices, or limited liability partnerships.

However, the justice minister will have the right to recognise professional bodies other than the Bar Council and the Law Society, meaning barristers who do not work as sole practitioners can form their own recognised body.

The Legal Services Regulation Bill is likely to be enacted before Christmas.

The Bar Council and the Law Society were contacted for comment byIrish Legal News, but did not respond before deadline.