269. Interest on clients' money.

269.     Interest on clients' money.

A person engaged in estate agency work1 who has received any clients' money2 and does not hold it as stakeholder on trust for the person who may become entitled to it on the occurrence of the event against which it is held3 must account to any other person who is for the time being entitled to that money for the interest earned or potentially earned on it4.

If money is held in a client account5 which is a separate deposit account6, a client account which is not a separate deposit account7, or in