Part 2Regulation of licensed legal services
Chapter 1Approved regulators
Licensing rules
I115Initial considerations
1
Licensing rules must provide for—
a
consultation with the F1CMA, where appropriate in accordance with subsection (2), in relation to a licence application,
b
how the approved regulator is to deal with a licence application where it believes that granting it would cause (directly or indirectly) a material and adverse effect on the provision of legal services.
2
For the purpose of subsection (1)(a), it is appropriate to consult the F1CMA where the approved regulator believes that the granting of the licence application may have the effect of—
a
preventing competition within the legal services market, or
b
significantly restricting or distorting such competition.