68Certain trust money to be deposited in general trust account

68 Certain trust money to be deposited in general trust account (1) Subject to section 74, as soon as practicable after receiving trust money, a licensee must deposit the money in a general trust account of the licensee unless— (a) the licensee has a written direction by an appropriate person to deal with it otherwise than by depositing it in the account; or (b) the money is controlled money and the licensee is permitted to deposit it in a controlled money account; or (c) the money is transit money; or (d) the money is the subject of a power given to the licensee or an associate of the licensee to deal with the money for or on behalf of another person. (2) Subject to section 74, a licensee who has received money that is the subject of a written direction mentioned in subsection (1)(a) must deal with the money in accordance with the direction— (a) within the period (if any) specified in the direction; or (b) subject to paragraph (a), as soon as practicable after it is received. (3) A licensee must keep a written direction mentioned in subsection (1)(a) for the period prescribed by the regulations. (4) In this section, ***appropriate person*** means a person legally entitled to give the licensee directions in respect of dealings with the trust money.