85 Bank accounts.E+W
Where a solicitor keeps an account with a bank [F1or a building society] in pursuance of rules under section 32—
(a)the bank [F2or society] shall not incur any liability, or be under any obligation to make any inquiry, or be deemed to have any knowledge of any right of any person to any money paid or credited to the account, which it would not incur or be under or be deemed to have in the case of an account kept by a person entitled absolutely to all the money paid or credited to it; and
(b)the bank [F2or society] shall not have any recourse or right against money standing to the credit of the account, in respect of any liability of the solicitor to the bank, other than a liability in connection with the account.
Textual Amendments
F1Words inserted by Building Societies Act 1986 (c. 53, SIF 16), ss. 54(3)(a)(5), 120, Sch. 18 Pt. I para. 11(4)(a)
F2Words inserted by Building Societies Act 1986 (c. 53, SIF 16), ss. 54(3)(a)(5), 120, Sch. 18 Pt. I para. 11(4)(b)
Modifications etc. (not altering text)
C1S. 85 extended (1.1.1992) by Administration of Justice Act 1985 (c. 61, SIF 34), s. 9, Sch. 2 para. 31; S.I. 1991/2683, art. 2
C2S. 85 extended (1.1.1992) by S.I. 1991/2831, art. 1, 2
S. 85 extended (22.5.2000) by S.I. 2000/1119, regs. 1, 37(3), Sch. 4 para. 7(4) (as amended (1.7.2009) by The Legal Services Act 2007 (Registered European Lawyers) Order 2009 (S.I. 2009/1587), art. 3(7)(f))
C3S. 85 applied by Administration of Justice Act 1985 (c. 61), Sch. 2 para. 31A (as inserted (31.3.2009) by Legal Services Act 2007 (c. 29), ss. 177, 211, Sch. 16 para. 118 (with ss. 29, 192, 193)); S.I. 2009/503, art. 2(b)(ii)