The Advocates (Deposit Interest) Rules

Legal Notice 205 of 1967

This is the latest version of this Legal Notice.
Citation
Legal Notice 205 of 1967
Primary work
Advocates Act
Date
31 December 2022
Language
English
Type
Legal Notice
Related documents
LAWS OF KENYA

ADVOCATES ACT

THE ADVOCATES (DEPOSIT INTEREST) RULES

LEGAL NOTICE 205 OF 1967

  • Commenced on 13 October 1967
  1. [Amended by The Advocates (Deposit Interest) Rules, 1967 Corrigenda (Corrigendum 81 of 1967) on 19 October 1967]
  2. [Amended by Advocates (Deposit Interest) (Amendment) Rules, 1977 (Legal Notice 112 of 1977) on 13 May 1977]
  3. [Revised by 24th Annual Supplement (Legal Notice 221 of 2023) on 31 December 2022]
1.These Rules may be cited as the Advocates (Deposit Interest) Rules.
2.Except as provided by these Rules an advocate is not liable by virtue of the relation between advocate and client to account to any client for interest received by the advocate on moneys deposited in a client account being moneys received or held for or on account of his clients generally.[L.N. 112/1977.]
3.When an advocate holds or receives for or on account of a client money on which, having regard to all the circumstances (including the amount and the length of time for which the money is likely to be held), interest ought in fairness to the client to be earned for him, the advocate shall take instructions from the client concerning the investment of that money.
4.An advocate is liable to account to a client for interest received on moneys deposited in a client account where the moneys are deposited in a separate designated account.[L.N. 112/1977.]
5.In these Rules “Separate designated account” means a deposit account in the name of the advocate or his firm in the title of which the word “client” appears and which is designated by reference to the identity of the client or matter concerned.[L.N. 112/1977.]
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History of this document

31 December 2022 this version
13 May 1977
19 October 1967
13 October 1967
Commenced