SRA Intervention Powers (Statutory Trust) Rules 2011 forms part of Edition 3 of the Handbook, which came into effect on 18 April 2012.
In respect of the statutory trust monies held following an intervention, the SRA will create a reconciled list or a best list from the evidence which it has available, including documents and other evidence provided by or on behalf of claimants.
In creating a reconciled list or a best list, any sums of money which are identified within a statutory trust account as being payments on account of costs, or which are equivalent to the costs incurred in the matter to which the funds relate, will be treated as due to the client rather than the intervened practitioner, unless there is sufficient evidence of a bill or other written notification of costs having been sent to the client.
The SRA will attempt to contact all persons identified as having a potential beneficial interest in the statutory trust monies inviting them to submit a claim in accordance with rule 5.
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