SCHEDULES

SCHEDULE 11Licensing rules

Part 3Practice requirements

Accounts

I120

1

The licensing rules must make provision as to the treatment of money within sub-paragraph (2), and the keeping of accounts in respect of such money.

2

The money referred to in sub-paragraph (1) is money (including money held on trust) which is received, held or dealt with by the licensed body, its managers and employees for clients or other persons.