Trust and controlled money rules for statutory manager
105 Trust and controlled money rules for statutory manager
The provisions of Part 5 apply to the records and accounts kept by a statutory manager in respect of a conveyancing business in the same way that they apply to the records and accounts kept by a licensee.
The trust records, trust accounts and controlled money accounts of a conveyancing business under statutory management must be kept separately from—
the records and accounts of the conveyancing business that existed prior to the appointment of the statutory manager; and
the trust records, trust accounts and controlled money accounts of any other conveyancing business in respect of which the statutory manager has been appointed.
This Act’s bill:Explanatory memorandumSecond reading speech
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