Law Society of Scotland
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Part 1 - General

1. Citation, Commencement, Revocation and Saving Provisions

  1. These Rules may be cited as the Solicitors (Scotland) Accounts etc Rules 2001.
  2. These Rules shall come into operation on 1st February 2002.
  3. The Scottish Solicitors’ Guarantee Fund Rules 1995, the Solicitors (Scotland) Accounts Rules 1997 and the Solicitors (Scotland) Accounts Certificate Rules 1997 are hereby revoked, provided that such revocation-
    1. shall not affect the validity of any application made or other thing done under the Scottish Solicitors’ Guarantee Fund Rules 1995, and
    2. shall not cause the interruption of the time periods specified in rules 13 and 14 of the Solicitors (Scotland) Accounts Rules 1997 or rule 3 of the Solicitors (Scotland) Accounts Certificate Rules 1997 nor affect any obligation to deliver a Certificate (whether (i) outstanding at the date of revocation or (ii) in respect of the accounting period (under the Solicitors (Scotland) Accounts Certificate Rules 1997) which ends after the date of revocation) in terms of the Solicitors (Scotland) Accounts Certificate Rules 1997 nor the rights of the Society against any solicitor in respect of his failure to deliver such a Certificate.

2. Interpretation

  1. In these Rules, unless the context otherwise requires-
    “accounting period” shall mean-
    1. a period not exceeding six months in duration, the first period commencing on the expiry of the immediately preceding accounting period (under the Solicitors (Scotland) Accounts Certificate Rules 1997) after the commencement of these Rules and each period thereafter commencing on the expiry of the immediately preceding period; or
    2. where there is no such immediately preceding accounting period a period not exceeding six months in duration, the first period commencing on the date on which Part II of these Rules applies to the solicitor or, having ceased to apply, applies again to that solicitor and each period thereafter commencing on the expiry of the immediately preceding period;
    “the Act” means the Solicitors (Scotland) Act 1980;
    “balance his books” means to prepare and bring to a balance a trial balance being a schedule or list of balances both debit and credit extracted from the accounts in both firm and client ledgers and including the cash and bank balances from the cash book;
    “bank” means the Bank of England, the National Savings Bank, the Post Office in the exercise of its powers to provide banking services and an institution authorised under the Banking Act 1987 and which operates within the bankers’ automated clearing system provided however that an authorised bank not operating within the bankers’ automated clearing system may be approved by the Council for the purposes of this sub-paragraph;
    “Certificate” shall mean a certificate in the form set out in Schedule 1 or 2 (as the case may be) to these Rules, or in such other form as the Council may from time to time approve;
    “client account” means a current, deposit, or savings account or other form of account or a deposit receipt at a branch of a bank in the United Kingdom in the name of the solicitor in the title of which the word “client”, “trustee”, “trust”, or other fiduciary term appears and includes an account or a deposit receipt with a bank, a deposit, share or other account with a building society authorised under the Building Societies Act 1986, a current or general account with a building society operating such an account within the bankers automated clearing system or an account showing sums on loan to a local authority being in such cases in name of the solicitor for a client whose name is specified in the title of the account or receipt;
    “clients’ money” means money (not belonging to him) received by a solicitor whether as a solicitor or as a trustee in the course of his practice;
    “the Council” means the Council of the Society;
    “incorporated practice” shall have the meaning given in section 34(1)(A) of the Act;
    “local authority” means a council within the meaning of the Local Government etc. (Scotland) Act 1994;
    “Money Laundering Regulations” means the Money Laundering Regulations 2003 (S.I. 2003 No. 3075).
    “relevant business” has the meaning given by Regulation 2(2) of the Money Laundering Regulations;
    “other business” means any business which is not relevant business;
    “partner” means a partner of a firm of solicitors or a director or member of an incorporated practice which is a company or a member of an incorporated practice which is a limited liability partnership;
    “print-out” means a printed or typewritten copy of any account or other information stored in a computer;
    “the Society” means the Law Society of Scotland;
    “solicitor” means a solicitor holding a practising certificate under the Act and includes a firm of solicitors and an incorporated practice; and
    “practice year” shall have the meaning given in section 65(1) of the Act.
  2. The Interpretation Act 1978 applies to the interpretation of these Rules as it applies to the interpretation of an Act of Parliament.

3. Rules not to apply to solicitors in certain employments

  1. Parts II and III of these Rules shall not apply to a solicitor who is in any of the employments mentioned in sub-sections (4)(a), (b) and (c) of section 35 of the Act so far as regards monies received, held or paid by him in the course of that employment. 
  2.  Parts IV, V and VI of these Rules shall not apply to such a solicitor as is referred to in paragraph (1) of this Rule so far as regards anything done or omitted to be done by him in the course of that employment.