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Client account - trust money |
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Accounts Rule 18, dealing with controlled trust money, was recently repealed. The end result is that solicitors are now permitted to include trust money within their client bank accounts.
However, the Institute of Legal Cashiers & Administrators is advising that trust money should still be kept separate from client bank accounts (because of the separate duties imposed on solicitors under trust law). See note in [2010] Legal Executive Journal January 38.
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February 2010 |