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Exam (elaborations)
LPC Solicitors Accounts
Preview 2 out of 11 pages
The Overarching Objective: Rule 1.1 of SRA Accounts Rule - To keep client money safe Office Money: Belongs to firm Client Money: Belongs to clients. Rule 12 SRA 12.2 & 12.7: set out the distinctions between what is client money and what is office money. Rule 12.7 is the main rule listing examples of what is office money Out of scope money: money received by a multi-disciplinary partnership in relation to activities not regulated by the SRA.
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