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Legal Services Act 2007
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- UK Public General Acts
- 2007 c. 29
- SCHEDULE 14
- Paragraph 4
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Money etc: vesting in licensing authority
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4(1)Any rights to which this paragraph applies shall vest in the licensing authority if the licensing authority decides that they should do so.
(2)This paragraph applies to any right to recover or receive debts due to the licensed body in connection with its business.
(3)Any sums recovered by the licensing authority by virtue of the exercise of rights vested under sub-paragraph (1) vest in the licensing authority and are held by it—
(a)on trust to exercise the powers conferred by this Schedule in relation to them, and
(b)subject to that and to rules under paragraph 6, on trust for the persons beneficially entitled.
(4)The licensing authority must give the licensed body, and any other person who owes a debt to which the order applies a copy of the licensing authority’s decision.
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