Page 250 - IOM Law Society Rules Book

ADVOCATES ACCOUNTS RULES 2008

appointment whether the advocate is being appointed trustee in a purely personal
capacity or in his or her professional capacity. If an advocate is charging for the work,
it is clearly being done as an advocate. Use of professional stationery may also
indicate that the work is being done in a professional capacity.
(iv) An advocate who wishes to retire from private practice must make a decision about any
professional trusteeship. There are three possibilities:
(a) continue to act as a professional trustee (as evidenced by, for instance, charging
for work done, or continuing to use the title “advocate” in connection with the
trust). In this case money subject to the trust must continue to be dealt with in
accordance with the rules.
(b) continue to act as a trustee, but in a purely personal capacity. In this case, the
advocate must stop charging for the work, and must not be held out as an
advocate (unless this is qualified by words such as “non-practising” or “retired”)
in connection with the trust.
(c) cease to be a trustee.

(v) To the extent that such companies’ operations fall outside the scope of the Fiduciary
Services (Clients’ Money and Trust Money) Regulatory Code, 2005, the rules apply to
companies falling within the scope of Rule 6(2) of the Advocates’ Practice Rules, 2001.

Rule 5 – Persons exempt from the rules

The Rules do not apply to:

(a) an advocate when practising as an employee of:

(i) the Isle of Man Government;

(ii) a local authority;

(iii) statutory boards;

(iv) the Church Commissioners; or

(b) an advocate when carrying out the functions of a coroner of inquests or other
judicial office.

Note
“Local authority” means –
(a) within the borough of Douglas, the municipal corporation of such borough:
(b) elsewhere within the Isle of Man, the commissioners of any local government
district:

Rule 6 – Principals’ responsibility for compliance

All the principals in a practice must ensure compliance with the rules by the principals
themselves and by everyone else working in the practice. This duty also extends to the
directors of a recognised body, and to the recognised body itself.

Rule 6 – Principals’ responsibility for compliance page 7