Singapore legislation
Regulation 3
Regulation 3
Client accounts, conveyancing accounts and conveyancing (CPF) accounts
Subregulation 1
Subject to rule 9, every solicitor who holds or receives client’s money, or money which under rule 4 he is permitted and elects to pay into a client account, shall without delay pay such money into a client account.
Subregulation 1A
A solicitor shall not hold or receive conveyancing money except in accordance with the applicable provisions of these Rules and the Conveyancing Rules.
Subregulation 1B
Subject to rule 17, a solicitor shall not hold or receive any anticipatory conveyancing money belonging to another person.
Subregulation 2
Any solicitor may keep one client account or as many such accounts as he thinks fit.
Subregulation 3
Any solicitor may keep one conveyancing account or as many such accounts as he thinks fit.
Subregulation 4
Any solicitor appointed to act for the Central Provident Fund Board in a conveyancing transaction may keep one conveyancing (CPF) account or as many such accounts as he thinks fit.
Subregulation 5
Every conveyancing account or conveyancing (CPF) account kept by a solicitor under paragraph (3) or (4) shall be maintained by the solicitor in accordance with the Conveyancing Rules.
Subregulation 6
No money shall be withdrawn from a conveyancing account or conveyancing (CPF) account except in accordance with the Conveyancing Rules.