11(1)This paragraph amends the M1Solicitors Act 1974 as follows.U.K.
(2)In section 32 (accounts rules and trust accounts rules), in subsections (1) and (2), in paragraph (a), after “banks”, there shall be inserted “ or with building societies ” and, in the words following paragraph (c), the word “banks” shall be omitted.
(3)In section 33 (interest on clients’ money) in subsections (1) and (3), after “bank”, there shall be inserted “ or with a building society ”.
(4)In section 85 (bank accounts)—
(a)after “account with a bank” there shall be inserted “ or a building society ”, and
(b)in paragraphs (a) and (b) after “bank” there shall be inserted “ or society ”.
(5)In section 87(1) (interpretation), after the definition of “bank” there shall be inserted—
““building society” means a building society within the meaning of the Building Societies Act 1986; and a reference to an account with a building society is a reference to a deposit account.”.
Marginal Citations