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LSRA welcomes passage of Bill bringing in changes to its funding model to ensure its future financing and planned expansion

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  2. LSRA welcomes passage of Bill bringing in changes to its funding model to ensure its future financing and planned expansion
LSRA welcomes passage of Bill bringing in changes to its funding model to ensure its future financing and planned expansion

Bill paves way for introduction of significant new business model for legal services delivery

The Legal Services Regulatory Authority (LSRA) welcomes the passage of the Courts and Civil Law (Miscellaneous Provisions) Bill 2023 through its final stages in Dáil Éireann yesterday. The Bill contains a range of reforms including amendments to the Legal Services Regulation Act 2015 as to how the levy on legal practitioners is calculated.

Welcoming the new legislation, LSRA CEO Dr Brian Doherty said:

“The LSRA is largely funded through a levy on the legal professions. Since the establishment of the Authority in 2016, it has been apparent that the levy model contained in its founding legislation is unduly complex and challenging to administer and doesn’t provide a sustainable funding stream for the organisation. These significant legislative amendments to the existing levy model will mean more certainty and stability for the LSRA’s future funding and planned expansion.”

The Bill also allows for the introduction of Legal Partnerships by enabling commencement of the section of the Act that introduces this new business model for the delivery of legal services.

Dr Doherty added:

“The introduction of Legal Partnerships will enable barristers and solicitors to jointly provide legal services for the first time, thereby offering a greater range of services and expertise to their clients. The LSRA will engage closely with the professional bodies and other important stakeholders in the months ahead as it prepares regulations to facilitate the introduction of Legal Partnerships. The Authority is committed to creating a regulatory framework that allows legal practitioners to work together and provide efficient and competitively priced legal services to consumers. We will begin consulting with stakeholders on the regulations later this year.”

The Courts and Civil Law (Miscellaneous Provisions) Bill 2023 has now been passed by both Houses of the Oireachtas and will be referred to the President of Ireland to be signed into law.

ENDS

LSRA2023-06-29T11:48:01+00:00June 29th, 2023|

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