defaulting practitioner

has the meaning given in rule 5 of the SRA Compensation Fund Rules.

owner

means, in relation to a body, a person with any interest in the body, save that:

1. in the SRA Authorisation of Firms Rules, and the SRA Authorisation of Individuals Regulations, owner means any person who holds a material interest in an authorised body, and in the case of a partnership, any partner regardless of whether they hold a material interest in the partnership; and
2. for the purposes of the SRA Principles and the SRA Code of Conduct for Firms means a person who holds a material interest in the body; and
3. for the purposes of the SRA Assessment of Character and Suitability Rules includes owners who have no active role in the running of the business as well as owners who do,

and "own" and "owned" shall be construed accordingly

manager

means:

1. the sole principal in a recognised sole practice;
2. a member of a LLP;
3. a director of a company;
4. a partner in a partnership; or
5. in relation to any other body, a member of its governing body

solicitor

means a person who has been admitted as a solicitor of the Senior Courts of England and Wales and whose name is on the roll.

REL

means a European lawyer registered in the register of European lawyers

authorised body

means:

1. a body that has been authorised by the SRA to practise as a licensed body or a recognised body; or
2. a sole practitioner's practice that has been authorised by the SRA as a recognised sole practice

non-commercial body

means a body that falls within section 23(2) of the LSA

RFL

means a foreign lawyer registered in the register of foreign lawyers

recognised body

means a body recognised by the SRA under section 9 of the AJA

licensed body

means a body licensed by the SRA under section 71(2) of the LSA in accordance with the SRA Authorisation of Firms Rules

SRA

means the Solicitors Regulation Authority

applicant

means for the purposes of the SRA Compensation Fund Rules a person applying for a grant out of the Compensation Fund.