I am informed that certain resolutions were carried by the Incorporated Law Society, having for their object the preservation of trust funds in the hands of their members. They were in the following terms:— "That it is the duty of every solicitor to keep full and accurate accounts, which should be periodically balanced."" That moneys received by a solicitor on behalf of his client should be kept separate from his own moneys, and that a convenient way of effecting this is by opening a clients' money account at a bank into which all moneys received by a solicitor to any part of which a client is, or under any circumstances may be, entitled should in the first instance be paid."" That moneys of clients in the hands of, or under the control of a solicitor, should only be used on account and with the authority of a client to whom they respectively belong."" That any increment in the nature of interest, income, or other profit accruing on clients' moneys should be credited to the clients whose moneys have produced such interest, income, or profit, and that any solicitor who, without the authority of his client, should retain for his own use any such interest, income or other profit is guilty of professional impropriety."" That except under special and unavoidable circumstances it is no part of a solicitor's business to hold money belonging to a client for any lengthened period, and that it is contrary to right practice to do so."" That in cases where a solicitor finds himself in possession of money of a substantial amount not his own, of which he cannot immediately, or within a short time discharge himself, it is his duty, if he does not keep a separate clients' account at a bank, and it is desirable even if he does keep such a separate account, to pay that money in to a deposit account separate, not only from his own money, but from all other money, and to earmark it, by endorsement on the deposit receipt or otherwise, as belonging to the particular client or matter.""I think the hon. Member will recognise that these introduce novel and valuable precautions which will be observed by the members of the Society. The resolutions that were not carried were—"" That every solicitor should either (a) have his accounts audited at least once a year by a chartered or incorporated accountant, or (b) Keep a separate bank account for all moneys received by him on behalf of his clients."" That in the case of every solicitor whose accounts are audited by a chartered or incorporated accountant he should be required annually, on applying for his practising certificate, to forward to the Society a certificate from such accountant stating that the accounts had been properly kept and duly audited."" That in the case of every solicitor whose accounts are not so audited he should be required annually, on applying for his practising certificate, to forward to the Society a Statutory Declaration as follows: (a) That he had kept a separate bank account for all moneys received by him on behalf of his clients, and that all such moneys had been paid into that account and had been used only for or on account of the clients to whom they respectively belong; (b) That all increment in the nature of interest, income, or other profit accruing on such moneys had been credited to the clients whose moneys respectively had produced such interest, income, or profit; and (c) That on the date of the declaration all such moneys had been duly dealt with or were in hand and available."
Further asked if the resolutions carried were not merely expressions of pious
opinions while the only really operative resolutions were rejected,