SCHEDULES
C1C3C2C4SCHEDULE 14Licensing authority's powers of intervention
Sch. 14 applied (with modifications) (9.12.2014) by The Legal Services Act 2007 (The Institute of Chartered Accountants in England and Wales) (Modification of Functions) Order 2014 (S.I. 2014/3236), arts. 1(2), 3
Sch. 14 applied (with modifications) (9.12.2014) by The Legal Services Act 2007 (the Chartered Institute of Patent Attorneys and the Institute of Trade Mark Attorneys) (Modification of Functions) Order 2014 (S.I. 2014/3238), art. 2(1), Sch. 2 para. 12, Sch. 4 para. 12 (as amended (6.4.2017) by The Deregulation Act 2015 and Small Business, Enterprise and Employment Act 2015 (Consequential Amendments) (Savings) Regulations 2017 (S.I. 2017/540), reg. 1, Sch. 2 para. 13 (with reg. 4))
Sch. 14 applied (with modifications) (1.10.2018) by The Legal Services Act 2007 (General Council of the Bar) (Modification of Functions) Order 2018 (S.I. 2018/448), arts. 1, 4
Money etc: vesting in licensing authority
I14
1
Any rights to which this paragraph applies shall vest in the licensing authority if the licensing authority decides that they should do so.
2
This paragraph applies to any right to recover or receive debts due to the licensed body in connection with its business.
3
Any sums recovered by the licensing authority by virtue of the exercise of rights vested under sub-paragraph (1) vest in the licensing authority and are held by it—
a
on trust to exercise the powers conferred by this Schedule in relation to them, and
b
subject to that and to rules under paragraph 6, on trust for the persons beneficially entitled.
4
The licensing authority must give the licensed body, and any other person who owes a debt to which the order applies a copy of the licensing authority's decision.
Sch. 14 applied (with modifications) (9.12.2014) by The Legal Services Act 2007 (Chartered Institute of Legal Executives) (Modification of Functions) Order 2014 (S.I. 2014/3234), arts. 1(1), 5