298A. Client money protection schemes

The Secretary of State may by regulations:

  1.  

    (1)     require a property agent1 to be a member of an approved client money protection scheme2 or a government administered client money protection scheme3;

  2.  

    (2)     make provision about the approval or designation of client money protection schemes for the purposes of regulations under head (1)4;

  3.  

    (3)     make provision about the enforcement of a duty imposed by regulations under head (1)5.

The Secretary of State may only approve a client money protection scheme if the Secretary of State considers that the provisions of the scheme and the manner in which it will be operated

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