23.—(1) Notwithstanding anything in Part II, a solicitor may continue to hold any conveyancing money that is deposited into his client account before 1st August 2011 —
(a)
in any case where the conveyancing money is unclaimed conveyancing money, in accordance with the Legal Profession (Solicitors’ Accounts) Rules (Cap. 161, R 8), until the conveyancing money is drawn from the client account; or
(b)
in any other case, for a period of 5 months beginning on 1st August 2011.
[S 629/2011 wef 25/11/2011]
(2) Rules 4(3) and 22 shall not apply to a solicitor in respect of any holding of conveyancing money by him in accordance with paragraph (1).
(3) In this rule —
“conveyancing money” includes anticipatory conveyancing money as defined in rule 4(4);
“unclaimed conveyancing money” has the same meaning as in rule 17 of the Legal Profession (Solicitors’ Accounts) Rules.