Schedule 5 makes provision for the continuity of existing rights and for certain persons to be deemed, during a transitional period, to be authorised by approved regulators to carry on certain activities.
(1)During the transitional period, a body within subsection (2) is entitled to carry on any activity which is a reserved legal activity.
(2)The bodies are—
(a)a not for profit body,
(b)a community interest company, or
(c)an independent trade union.
(3)The transitional period is the period which—
(a)begins with the day appointed for the coming into force of section 13, and
(b)ends with the day appointed by the Lord Chancellor by order for the purposes of this paragraph.
(4)Different days may be appointed under subsection (3)(b) for different purposes.
(5)An order may be made under subsection (3)(b) only on the recommendation of the Board.