Legal Profession Act 2006
498Records and accounts of law practice under receivership
Start here
Get a plain-English read of 498
Turn the raw legal text into a practical explanation grounded in Legal Profession Act 2006.
498 Records and accounts of law practice under receivership and dealings with trust money (1) A receiver for a law practice must keep the records and accounts of the practice that the receiver manages— (a) separately from the management of the affairs of the practice before their appointment as receiver; and (b) separately from the affairs of any other law practice that the receiver is managing; and (2) Subject to subsection (1), a receiver for a law practice must deal with trust money of the practice in the same way as a law practice must deal with trust money.