Section 85 Bank accounts.C1C2C3C4
England and Wales
Where a solicitor keeps an account with a bank F1or a building society in pursuance of rules under section 32—
the bank F2or society shall not incur any liability, or be under any obligation to make any inquiry, or be deemed to have any knowledge of any right of any person to any money paid or credited to the account, which it would not incur or be under or be deemed to have in the case of an account kept by a person entitled absolutely to all the money paid or credited to it; and
the bank or society shall not have any recourse or right against money standing to the credit of the account, in respect of any liability of the solicitor to the bank, other than a liability in connection with the account.
Annotations
Textual amendments
- F1
Words inserted by Building Societies Act 1986 (c. 53, SIF 16), ss. 54(3)(a)(5), 120, Sch. 18 para. 11(4)(a)
- F2
Words inserted by Building Societies Act 1986 (c. 53, SIF 16), ss. 54(3)(a)(5), 120, Sch. 18 para. 11(4)(b)
Modifications
- C1
S. 85 extended (1.1.1992) by Administration of Justice Act 1985 (c. 61, SIF 34), s. 9, Sch. 2 para. 31; S.I. 1991/2683, art. 2
- C2
S. 85 extended (1.1.1992) by S.I. 1991/2831, art. 1, 2
S. 85 extended (22.5.2000) by S.I. 2000/1119, regs. 1, 37(3), Sch. 4 para. 7(4) (as amended (1.7.2009) by The Legal Services Act 2007 (Registered European Lawyers) Order 2009 (S.I. 2009/1587), art. 3(7)(f))
- C3
S. 85 applied by Administration of Justice Act 1985 (c. 61), Sch. 2 para. 31A (as inserted (31.3.2009) by Legal Services Act 2007 (c. 29), ss. 177, 211, Sch. 16 para. 118 (with ss. 29, 192, 193)); S.I. 2009/503, art. 2(b)(ii)
- C4
S. 85 applied (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