Section 137B(2)

An institution with which an account is kept in pursuance of rules relating to the handling of clients' money does not incur any liability as constructive trustee if the money is wrongfully paid from the account, unless the institution permits the payment— with knowledge that it is wrongful, or having deliberately failed to make enquiries in circumstances in which a reasonable and honest person would have done so.

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Source: legislation.gov.uk · retrieved 2026-09-04