An Alternative Business Structure is a relatively new form of business structure where external investment in the business can be made from non-lawyers in professional management or ownership roles.
By comparison, a Recognised Body means that the practice must be wholly owned by the authorised person/s who will operate and manage the business and deliver the regulated services direct to the public.
For further information please see the following literature:
Optimise Your Firm’s Potential – Changing to CLC Regulation
Fact Sheet 1 – About the CLC
Fact Sheet 2 – CLC Regulation
Fact Sheet 3 – A New Approach to Regulation