OpenLegislation

Section 34 Accountants’ reports.C1 C2 C3

England and Wales

F1(1)

The Society may make rules requiring solicitors to provide the Society with reports signed by an accountant (in this section referred to as an “accountant's report”) at such times or in such circumstances as may be prescribed by the rules.

(2)

The rules may specify requirements to be met by, or in relation to, an accountant's report (including requirements relating to the accountant who signs the report).

C4(6)

If any solicitor fails to comply with the provisions of F2any rules made under this section, a complaint in respect of that failure may be made to the Tribunal by or on behalf of the Society.

F3(7)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(8)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Where an accountant, during the course of preparing an accountant's report—

(a)

discovers evidence of fraud or theft in relation to money held by a solicitor for a client or any other person (including money held on trust) or money held in an account of a client of a solicitor, or an account of another person, which is operated by the solicitor, or

(b)

obtains information which the accountant has reasonable cause to believe is likely to be of material significance in determining whether a solicitor is a fit and proper person to hold money for clients or other persons (including money held on trust) or to operate an account of a client of the solicitor or an account of another person,

the accountant must immediately give a report of the matter to the Society.

No duty to which an accountant is subject is to be regarded as contravened merely because of any information or opinion contained in a report under subsection (9).

Annotations

Textual amendments

F1: S. 34(1)(2) substituted (31.3.2009) for s. 34(1)-(5A) by Legal Services Act 2007 (c. 29), ss. 177, 211, Sch. 16 para. 35(2) (with ss. 29, 192, 193); S.I. 2009/503, art. 2(b)(i)
F2: Words in s. 34(6) substituted (31.3.2009) by Legal Services Act 2007 (c. 29), ss. 177, 211, Sch. 16 para. 35(3) (with ss. 29, 192, 193); S.I. 2009/503, art. 2(b)(i)
F3: S. 34(7)(8) repealed (31.3.2009) by Legal Services Act 2007 (c. 29), ss. 177, 210, 211, Sch. 16 para. 35(4), Sch. 23 (with ss. 29, 192, 193); S.I. 2009/503, art. 2(b)(i)(f)(ii)(aa)
F4: S. 34(9)(10) inserted (31.3.2009) by Legal Services Act 2007 (c. 29), ss. 177, 211, Sch. 16 para. 35(5) (with ss. 29, 192, 193); S.I. 2009/503, art. 2(b)(i)

Modifications

C1

S. 34 extended (14.10.1991) by Courts and Legal Services Act 1990 (c. 41, SIF 76:1), s. 89(3)(a)(iii)(4); S.I. 1991/1883, art. 3, Sch.

S. 34 extended (22.5.2000) by S.I. 2000/1119, regs. 1, 37(3), Sch. 4 para. 1(3) (as amended (1.7.2009) by The Legal Services Act 2007 (Registered European Lawyers) Order 2009 (S.I. 2009/1587), art. 3(4))

C2

S. 34 applied by Courts and Legal Services Act 1990 (c. 41), Sch. 14 para. 8 (as substituted (31.3.2009) by Legal Services Act 2007 (c. 29), ss. 177, 211, Sch. 16 para. 134 (with ss. 29, 192, 193)); S.I. 2009/503, art. 2(b)(iii)

C3

S. 34 applied (with modifications) (1.1.2025) by The Recognition of Professional Qualifications and Implementation of International Recognition Agreements (Amendment) (Extension to Switzerland etc.) Regulations 2024 (S.I. 2024/1379), regs. 1(4), 25

C4

S. 34(6) extended (with modifications) (1.7.2009) by S.I. 2000/1119, Sch. 4 para. 7(2) Table (as amended by The Legal Services Act 2007 (Registered European Lawyers) Order 2009 (S.I. 2009/1587), art. 3(7)(c))

C5

S. 34(9) extended (with modifications) (1.7.2009) by The Registered Foreign Lawyers Order 2009 (S.I. 2009/1589), art. 3(2)(h), Sch.

C6

S. 34(9) extended (with modifications) (1.7.2009) by S.I. 2000/1119, Sch. 4 para. 7(2) Table (as amended by The Legal Services Act 2007 (Registered European Lawyers) Order 2009 (S.I. 2009/1587), art. 3(7)(c)(i))

C7

S. 34(9) applied by Administration of Justice Act 1985 (c. 61), Sch. 2 paras. 5, 5A (as substituted (31.3.2009) by Legal Services Act 2007 (c. 29), ss. 177, 211, Sch. 16 paras. 92, 93 (with ss. 29, 192, 193); S.I. 2009/503, art. 2(b)(ii)

C8

S. 34(10) modified (1.7.2009) by S.I. 2000/1119, Sch. 4 para. 7(2A) (as inserted by The Legal Services Act 2007 (Registered European Lawyers) Order 2009 (S.I. 2009/1587), art. 3(7)(d))

C9

S. 34(10) extended (with modifications) (1.7.2009) by The Registered Foreign Lawyers Order 2009 (S.I. 2009/1589), art. 5(a)

C10

S. 34(10) applied by Administration of Justice Act 1985 (c. 61), Sch. 2 paras. 5, 5A (as substituted (31.3.2009) by Legal Services Act 2007 (c. 29), ss. 177, 211, Sch. 16 paras. 92, 93 (with ss. 29, 192, 193); S.I. 2009/503, art. 2(b)(ii)