Interest on clients’ moneyE+W
22E+WWhere a licensed conveyancer [F1or licensed CLC practitioner] —
(a)is required by rules made under section 23 of the Act of 1985 to place any sum of money in a separate deposit account; but
(b)fails to do so as soon as is reasonably practicable,
the Council may give a direction requiring him to account to the client in question for any interest which has not been earned but which would have been earned if that sum had been placed in a separate deposit account as soon as was reasonably practicable.
Textual Amendments
F1Words in Sch. 8 para. 22 inserted (29.6.2015) by Deregulation Act 2015 (c. 20), s. 115(6)(b), Sch. 19 para. 13(11); S.I. 2015/1402, art. 2(b)
Commencement Information
I1Sch. 8 para. 22 in force 1.4.1991 (except in so far as it relates to certain exemptions under section 55) see s. 124(3) and S.I. 1991/608, art. 2, Sch.