# The Banking Act 1987 (Exempt Transactions) Regulations 1997, Regulation 8: Solicitors


(1) The acceptance by a practising solicitor in the course of his profession of a deposit is an exempt transaction.
(2) In this regulation “practising solicitor” means a solicitor who is qualified to act as such under section 1 of the Solicitors Act 1974, article 4 of the Solicitors (Northern Ireland) Order 1976 or section 4 of the Solicitors (Scotland) Act 1980, and in Scotland includes a firm of practising solicitors.

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Source: https://www.legislation.gov.uk/uksi/1997/817/regulation/8 (the official version)
Page: https://openlegislation.uk/banking-act-1987-exempt-transactions-regulations-1997/regulation-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.