{
  "url": "https://openlegislation.uk/estate-agents-accounts-regulations-1981/regulation-7",
  "json_url": "https://openlegislation.uk/estate-agents-accounts-regulations-1981/regulation-7.json",
  "legislation": "uksi/1981/1520",
  "legislation_title": "The Estate Agents (Accounts) Regulations 1981",
  "legislation_url": "https://openlegislation.uk/estate-agents-accounts-regulations-1981",
  "path": "regulation/7",
  "kind": "regulation",
  "number": "7",
  "heading": null,
  "text": "(1) A person engaged In estate agency work who has received after the date of coming into operation of these Regulations any clients' money and does not hold it as stakeholder on trust for the person who may become entitled to it on the occurrence of the event against which it is held shall account, in the cases prescribed by this Regulation, to any other person who is for the time being entitled to the money—\n(a) where the money is or has been held for him in a client account which is a separate deposit account, for the interest earned on it;\n(b) where the money is or has been held for him in a client account which is not a separate deposit account, for the interest which could have been earned on it for him if it had been kept in a separate deposit account at the institution concerned;\n(c) where, under the Act and these Regulations, the money is required to be held in a client account but is not so held, for the interest which could have been earned on it for him if it had been kept in a separate deposit account at whichever of the institutions listed in the Schedule to these Regulations in which a current or deposit account is held by the person on whom the duty under this paragraph is imposed was, on the day when it could first have been put in such an account, offering the highest rate of interest offered by any of those institutions on money kept in such an account, or if no such account is so held, at whichever of the said institutions was on the day in question offering the highest rate of interest offered by any of those institutions on money kept in such an account;\n(d) where the person who has received any clients' money is an institution listed in the Schedule to these Regulations or an employee of such an institution, and accordingly under Regulation 3 above that person does not pay it into a client account, for the interest which could have been earned on it for him if it had been kept in a separate deposit account at that institution.\n(2) The obligation imposed by subparagraphs (a) to (c) of paragraph (1) above shall arise in any case where the amount of the sum held exceeds £500 and the interest which is, or, as the case may be, could have been, earned on the money for the person in question during the period for which it is held for him by keeping it in a separate deposit account at the institution concerned is at least £10.\n(3) The obligation imposed by subparagraph (d) of paragraph (1) above shall arise in any case in which interest is not credited to the person for the time being entitled to the money in the normal course of business and the amount of the sum held exceeds £500 and the interest which could have been earned on the money during the period for which it is held for him if it had been kept in a separate deposit account at the institution is at least £10.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1981/1520/regulation/7",
    "retrieved_at": "2026-10-29T18:32:04.430680+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}