6(1)Without prejudice to paragraph 5, if the Council passes a resolution to the effect that any sums of money to which this paragraph applies, and the right to recover or receive them, shall vest in the Council, all such sums shall vest accordingly (whether they were received by the person holding them before or after the Council’s resolution) and shall be held by the Council on trust to exercise in relation to them the powers conferred by this Part of this Schedule and subject thereto [F1and to rules under paragraph 6B] upon trust for the persons beneficially entitled to them.E+W
(2)This paragraph applies—
(a)where the powers conferred by this paragraph are exercisable by virtue of paragraph 1, to all sums of money held by or on behalf of the licensed conveyancer or his firm in connection with his practice [F2or former practice or with any trust of which he is or was a trustee],
(b)where they are exercisable by virtue of paragraph 2, to all sums of money in any client account; and
(c)where they are exercisable by virtue of paragraph 3, to all sums of money held by or on behalf of the licensed conveyancer or his firm in connection with the matter to which the complaint relates.
(3)The Council shall serve on the licensed conveyancer or his firm and on any other person having possession of sums of money to which this paragraph applies a certified copy of the Council’s resolution and a notice prohibiting the payment out of any such sums of money.
(4)Within eight days of the service of a notice under sub-paragraph (3), the person on whom it was served, on giving not less than 48 hours’ notice in writing to the Council and (if the notice gives the name of the solicitor instructed by the Council) to that solicitor, may apply to the High court for an order directing the Council to withdraw the notice.
(5)If the court makes such an order, it shall have power also to make such other order with respect to the matter as it may think fit.
(6)If any person on whom a notice has been served under sub-paragraph (3) pays out sums of money at a time when such payment is prohibited by the notice, he shall be guilty of an offence and liable on summary conviction to a fine not exceeding the third level on the standard scale.
Textual Amendments
F1Words in Sch. 5 para. 6(1) inserted (31.3.2009) by Legal Services Act 2007 (c. 29), ss. 182, 211, Sch. 17 para. 31(5)(a), (with ss. 29, 192, 193); S.I. 2009/503, art. 2(c)(i)
F2Words in Sch. 5 para. 6(2) inserted (31.3.2009) by Legal Services Act 2007 (c. 29), ss. 182, 211, Sch. 17 para. 31(5)(b), (with ss. 29, 192, 193); S.I. 2009/503, art. 2(c)(i)