The Solicitors Regulation Authority does not expect to start licensing alternative business structures until early 2012, it has said in a new guide to help prospective ABS owners.

The guide includes information about which firms need to be authorised as ABSs, essential requirements and details about the application process.

The Ministry of Justice has announced that it expects to designate the SRA as a licensing authority for ABSs by the end of the year.

The SRA said it is therefore likely to begin licensing ABSs in early 2012.

Executive director of authorisation Mike Jeacock commented: ‘The guide provides a useful summary and should provide prospective owners with valuable information to help them prepare their applications.

‘Protecting the public is our first priority, so there will be a robust authorisation process to ensure that only those that meet all the criteria will be awarded a licence.’

The guide is published on the SRA website.