The Scottish Government’s consultation into who should be included in the definition of "regulated profession" under the ABS regime of the Legal Services (Scotland) Act has closed with the majority of respondents favouring the inclusion of accountancy professionals.

The Act requires that at least 51% of the total ownership or control of any licensed provider must lie with solicitor investors, or investors who are members of other regulated professions.

The consultation found that 87.5% supported the view that chartered accountants regulated by the Institute of Chartered Accountants of Scotland should be included in the definition of "regulated profession".

Just under 60% considered that other professions should be considered as regulated professions.

“The Scottish Government thanks those who responded to the consultation and will take the responses into account when considering which groups should be included in the definition of "regulated profession" for the purposes of the Act,” the Government said in a statement accompanying the report.