GUIDE TO THE SOLICITORS’ (SCOTLAND) ACCOUNTS, ACCOUNTS CERTIFICATE, PROFESSIONAL PRACTICE AND GUARANTEE FUND RULES 2001 and SOLICITORS' (SCOTLAND) ACCOUNTS ETC (AMENDMENTS) RULES 2004
The Rules incorporate all of the Rules for which the Guarantee Fund Committee have the responsibility to report on to Council.
They will be known as the Solicitors’ (Scotland) Accounts etc. Rules 2001, and have been organised into separate sections for ease of reference.
The Rules are arranged in six sections, with three supporting schedules and full index, as follows:-
Part I General
Part II Accounts Rules Pages
Part III Accounts Certificate Rules
Part IV Inspection and Investigations
Part V - I Professional Practice – Loans
Part V - II Professional Practice – Secured loans to Solicitors etc.
Part V - III Professional Practice – Powers of Attorney
Part V - IV Professional Practice – Money Laundering
Part VI Guarantee Fund and Other Questions
Schedule 1 Form of Certificate
Schedule 2a Form of Certificate (no client monies)
Schedule 2b Form of Certificate (agency)
Schedule III Application Form for Grant from Guarantee Fund
The 2004 (Amendment) Rules amend, by specific changes, the 2001 Rules Nos 2(1), 6(2), 22 and 24. They also amend the form of Accounts Certificate contained in Schedule I.
The following Guide takes the format of question and answer. Wherever a question relates to a specific Rule or Rules a cross reference is given to the Rule number. Both the Rules and the Guide are also available on the Society’s website – www.lawscot.org.uk, under "Commonly Used Rules".
More detailed Guidance on Money Laundering Procedures can be found at www.lawscot.org.uk/mlg.
