Paragraph 13 F1
Where the recognition of a body corporate under Article 26A—
has been revoked under regulations made under Article 26A(2)(d) or by an order of the Tribunal under this Schedule; or
has expired and no further recognition of that body has been granted under that Article,
that body shall within three weeks from the material date satisfy the Council that it has made suitable arrangements for making available to its clients or to some other recognised body or solicitor instructed by his clients or, with the approval of the Council, instructed by itself—
all deeds, wills, documents constituting or evidencing title to any property, papers, books of accounts, records, vouchers or other documents in its possession or control, or relating to any controlled trust; and
all sums of money due from it to, or held by it on behalf of, its clients or subject to any controlled trust,
and if it fails so to satisfy the Council, the provisions of Schedule 1 shall apply in relation to the body and its former business in like manner as they apply in relation to a solicitor and his practice.
In sub-paragraph (1) “the material date” means whichever is the latest of the following dates, that is to say—
the date on which the recognition of the body corporate under Article 26A expires;
where an application for further recognition of the body corporate under Article 26A has been made before the date specified in head (a), the last date on which an appeal against the decision not to grant further recognition of the body corporate may be lodged;
the last date on which an appeal against the decision or order revoking the recognition may be lodged;
the date on which any appeal mentioned in head (b) or (c) is dismissed or abandoned.
Where the powers conferred by Schedule 1 are exercisable in relation to a recognised body in accordance with paragraph 12 or 14 they shall continue to be so exercisable after that body's recognition under Article 26A has been revoked or has otherwise ceased to be in force.
Annotations
Textual amendments
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