268. Payments out of client accounts.

The occasions on which, and the persons to whom, money held in a client account1 may be paid out are:

  1.  

    (1)     in the case of money other than clients' money2, where it is no longer required for the specified purpose and is paid to the person entitled to it3;

  2.  

    (2)     in the case of money paid into the account in contravention of accounts regulations4, where it is paid to the person entitled to it5;

  3.  

    (3)     in the case of clients' money, where it is paid to the person who is entitled to call for it to be paid over