Page 249 - IOM Law Society Rules Book

ADVOCATES ACCOUNTS RULES 2008

Treasury) specify that certain money is to be placed in an office account at a bank or
building society.

Rule 3 – Geographical scope

The rules apply to advocates carrying on the business of advocates in any location.

Rule 4 – Persons governed by the rules

(1) The rules apply to:

(a) Advocates who are:

(i) sole practitioners;

(ii) partners in a practice, or held out as partners (including “salaried” and
“associate” partners);

(iii) assistants, associates, consultants or locums in a private practice;

(iv) employed as in-house advocates (for example, in commerce and
industry); or

(v) directors of recognised bodies;

(b) registered legal practitioners who are directors of recognised bodies; and

(c) recognised bodies.

(2) Part F of the rules (accountants’ reports) also applies to reporting accountants.

Notes
(i) In practical terms the rules also bind anyone else working in a practice, such as cashiers
and non-lawyer fee earners. Non compliance by any member of staff will lead to the
principals being in breach of the rules – see rule 6.

(ii) Advocates who have held or received client monies or controlled trust monies, but no
longer do so, whether or not they continue in practice, continue to be bound by some
of the rules – for instance:

• rule 7 (duty to remedy breaches);
• rule 19(2) and note (xi) to rule 19, rule 32(8) to (15) and rule 33 (retention of
records);
• rule 34 (production of records);
• Part F (accountants’ reports), and in particular rule 35 and rule 36(5) (delivery of
final report), and rule 38(2) and rule 46 (retention of records).
• Part G (advocates’ reports)
(iii) The rules do not cover an advocate’s trusteeships carried on in a purely personal
capacity outside any legal practice. It will normally be clear from the terms of the

Rule 4 – Persons governed by the rules page 6