- The SRA shall place all statutory trust monies in an identifiable statutory trust account.
- All interest earned on the funds held in any statutory trust account shall be paid into that account.
SRA Statutory Trust Rules
Introduction
These rules set out what the SRA does with money it takes possession of following an intervention into a firm's and/or an individual's practice. We hold this money on trust for the people it belongs to. This type of trust is called a statutory trust. The people that the money belongs to are beneficiaries of the trust. We have produced guidance on the way that we deal with this money.
This introduction does not form part of the SRA Statutory Trust Rules.