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ABSs won’t launch in October as parliament not ready

No, they have not realised that this is a nightmare. The SRA has quite reasonably asked for permission to be able to see the spent convictions of ABS owners and legislation is in train for that. However, the SRA was also not happy about the fact that they were going to have to take ABSs to the First Tier Tribunal rather that the SDT. The reason for this was that the SRA is determined to hang onto its privileged position whereby, regardless of the outcome, it is normally excused the costs of the SDT. This is a scandalous position in the 21st century and is unlikley to survive the first brush with a politically influential ABS. It is this legislation that is delaying the start of ABSs

27-Jul-2011

12:16 pm