Licensed Body definition
Examples of Licensed Body in a sentence
Licensed Body means a body which holds a licence in force under Part 5 of the Legal Services Act 2007 issued by the CLC.
Predecessor means a Recognised Body or Licensed Body whose Practice has been wholly or partially merged with or acquired by the Insured Practice or one of its Predecessors to be insured under this insurance through the application of provisions equivalent to those in General Conditions 8.11 in the Successor Practice’s insurance policy.
Practice means the Recognised Body or Licensed Body named in the Evidence of Insurance and shall include any Practice which is the Predecessor or Successor to that Practice.
On the basis that the standard application will take 2 days to process the fee for a first time Licensed Body application is £1200.
Where the beneficial owner is a corporate body the suitability test will broadly reflect the approach taken in respect of Licensed Body applications.