SRA Handbook

Purpose of the overseas accounts provisions

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Rule 47: Purpose of the overseas accounts provisions

47.1

The purpose of applying different accounts provisions:

(a)

to practice from an office outside England and Wales is to ensure similar protection for client money (overseas) but by way of rules which are more adaptable to conditions in other jurisdictions.

(b)

to the practice of an REL from an office in England and Wales of an Exempt European Practice is to ensure similar protection for client monies but by way of rules which are more adaptable to such practices.