{
  "url": "https://openlegislation.uk/solicitors-act-1974/schedule-1/paragraph-7",
  "json_url": "https://openlegislation.uk/solicitors-act-1974/schedule-1/paragraph-7.json",
  "legislation": "ukpga/1974/47",
  "legislation_title": "Solicitors Act 1974",
  "legislation_url": "https://openlegislation.uk/solicitors-act-1974",
  "path": "schedule/1/paragraph/7",
  "kind": "paragraph",
  "number": "7",
  "heading": null,
  "text": "(1) If the Society takes possession of any sum of money to which paragraph 6 or 6A(3) applies, the Society shall pay it into a special account in the name of the Society or of a person nominated on behalf of the Society, or into a client account of a solicitor nominated on behalf of the society, and any such person or solicitorshall hold that sum on trust to permit the Society to exercise in relation to it the powers conferred by this Part of this Schedule and subject thereto and to rules under paragraph 6B on trust for the persons beneficially entitled to it.\n(2) A bank or other financial institutionat which a special account is kept shall be under no obligation to ascertain whether it is being dealt with properly.",
  "extent": "E+W",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 1 para. 7(1) inserted (31.3.2009) by Legal Services Act 2007 (c. 29), ss. 177, 211, Sch. 16 para. 77(7)(a) (with ss. 29, 192, 193); S.I. 2009/503, art. 2(b)(i) (subject to art. 4)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words substituted by Administration of Justice Act 1985 (c. 61, SIF 34), s. 8, Sch. 1 para. 13(5)(a)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in Sch. 1 para. 7(1) inserted (31.3.2009) by Legal Services Act 2007 (c. 29), ss. 177, 211, Sch. 16 para. 77(7)(b) (with ss. 29, 192, 193); S.I. 2009/503, art. 2(b)(i) (subject to art. 4)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words inserted by Administration of Justice Act 1985 (c. 61, SIF 34), s. 8, Sch. 1 para. 13(5)(b)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Sch. 1 Pt. II paras. 5-16 extended (1.1.1992) by Administration of Justice Act 1985 (c. 61, SIF 34), s. 9, Sch. 2 paras. 32-35; S.I. 1991/2683, art. 2 (which extending provisions were amended (31.3.2009) by Legal Services Act 2007 (c. 29), ss. 177, 211, Sch. 16 paras. 119-123 (with ss. 29, 192, 193)); S.I. 2009/503, art. 2(b)(ii)"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "Sch. 1 Pt. II paras. 5–16 extended (with modifications) (14.10.1991) by Courts and Legal Services Act 1990 (c. 41, SIF 76:1), s. 89, Sch. 14 Pt. II para. 5; S.I. 1991/1883, art. 3, Sch."
    },
    {
      "type": "C",
      "label": "C3",
      "text": "Sch. 1 Pt. II modified by Administration of Justice Act 1985 (c. 61, SIF 34), Sch. 2 para. 14ZA(5)(as inserted (1.11.2015) by The Legal Services Act 2007 (The Law Society) (Modification of Functions) Order 2015 (S.I. 2015/401), art. 1(3), Sch. 1 para. 20(4))"
    },
    {
      "type": "C",
      "label": "C4",
      "text": "Sch. 1 paras. 6-8 applied by (Administration of Justice Act 1985 (c. 61, SIF 34), Sch. 2 para. 32A (as inserted (1.11.2015) by The Legal Services Act 2007 (The Law Society) (Modification of Functions) Order 2015 (S.I. 2015/401), art. 1(3), Sch. 1 para. 20(15))"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1974/47/schedule/1/paragraph/7",
    "retrieved_at": "2026-10-29T10:43:05.522324+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."
}