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Examination Timing: 00H00M18S
John, a solicitor, receives funds from a client to be used for a future property transaction. How should John handle these funds in compliance with the SRA Accounts Rules?
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John must deposit the funds into the firm’s client account to comply with the SRA Accounts Rules. This ensures the client’s money is safeguarded and not mixed with the firm’s operational funds. Key Point: Client funds intended for future transactions must be held in the client account to ensure their protection and proper use according to the SRA Accounts Rules.
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