The committee is considering a Paper by the Scottish Law Commission on this topic.
Real BurdensThe Convener has finalised the responses which had been lodged with the Executive.Long Leasehold ConversionThe Convener has finalised the responses which had been lodged with the Scottish Law CommissionForeshore and Seabed law
The terms of the Executive announcement were noted whereby when a legislative opportunity arose the functions of SCESB would be transferred to the Law Society, at which time no licensed conveyancer would be able to set up on his own account.
It should be remembered that the deadline for compliance with the Act is 24th October, but are firms ready for it? It has been suggested that organisations which normally keep client’s records confidential, such as law firms, are going to be most at risk of non-compliance with the Act.
Following on a review of the Accounts Rules, the law society of Scotland has decided to consolidate the Rules governing the Guarantee Fund areas of responsibility and has therefore drawn up new Rules which are to go before a special meeting on 28th September 2001. They are:
The Committee has a heavy work load at present given the high volume of consultation Papers and proposed legislation. There is a limit to what can be undertaken so if any member is interested in assisting the committee with its law reform work, please let us know.