Residual balances

You are reading current version in effect from 25 November 2019
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You are reading current version in effect from 25 November 2019

Guidance

Guidance

How we deal with money when we intervene (Statutory Trusts)

This guidance is to help you understand your obligations and how to comply with them. We may have regard to it when exercising our regulatory functions.

Glossary terms

SRA

means the Solicitors Regulation Authority

statutory trust account

means an account in which statutory trust monies are held by the SRA following an intervention

beneficiary

means a person with a beneficial entitlement to funds held by the SRA on statutory trust

statutory trust monies

means the monies vested in the Society under the statutory trust.