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Examination Timing: 00H00M15S
Maria, a solicitor, holds client funds in an interest-bearing account. The interest earned is significant. What should Maria do with the interest earned on these client funds?
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Maria should pay the interest to the client unless there is an agreement stating otherwise. The SRA Accounts Rules require that any interest earned on client funds benefits the client unless a different arrangement is made. Key Point: Interest earned on client funds should be paid to the client unless otherwise agreed. This ensures that the client benefits from the funds held on their behalf and complies with the SRA Accounts Rules.
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