64Trust account statements for sophisticated clients

64 Trust account statements for sophisticated clients (1) Regulation 63 does not apply to a sophisticated client to the extent to which the client directs the law practice not to provide trust account statements under that regulation.

Legal Profession Regulations 2007 44 (2) If the sophisticated client directs the law practice to provide trust account statements on a basis different from that prescribed by regulation 63, the law practice must supply those statements as directed, except to the extent to which the direction is unreasonably onerous. (3) The law practice must retain a copy of a trust account statement furnished under this regulation. (4) In this regulation: sophisticated client, see section 295(1) of the Act.