Page 275 - IOM Law Society Rules Book

ADVOCATES ACCOUNTS RULES 2008

Notes
(i) It is advisable for the client (or other person) to try to resolve the matter with the advocate
before approaching the Council.
(ii) If appropriate, the Council will require the advocate to obtain an interest calculation from
the relevant bank or building society.

PART D – ACCOUNTING SYSTEMS AND RECORDS

Rule 29 – Guidelines for accounting procedures and systems

The Council may from time to time publish guidelines for accounting procedures and systems
to assist advocates to comply with Parts A to D of the rules and advocates may be required to
justify any departure from the guidelines. The guidelines do not override or detract from the
need to comply fully with the rules.

Notes
(i) The current guidelines appear at Appendix 1
(ii) The reporting accountant does not carry out a detailed check for compliance, but has a
duty to report on any substantial departures from the guidelines discovered whilst
carrying out work in preparation of his or her report (see rules 43 and 44(d)).

Rule 30 – Restrictions on transfers between clients

(1) A paper transfer of money held in a general client account from the ledger of one client
to the ledger of another client may only be made if:

(a) it would have been permissible to withdraw that sum from the account under
rule 22(1); and

(b) it would have been permissible to pay that sum into the account under rule 15;

(but there is no requirement in the case of a paper transfer for the written authority of
an advocate, etc., under rule 23(1)).

(2) No sum in respect of a private loan from one client to another can be paid out of funds
held for the lender either:

(a) by a payment from one client account to another;

(b) by a paper transfer from the ledger of the lender to that of the borrower; or

(c) to the borrower directly,

except with the prior written authority of both clients.

Rule 30 – Restrictions on transfers between clients page 32