Section 23(7)

An account in which relevant funds or relevant assets are placed under paragraph (6) must— be designated in such a way as to show that it is an account which is held for the purpose of safeguarding relevant funds or relevant assets in accordance with this regulation; and be used only for holding those funds or assets , or for holding those funds or assets together with proceeds of an insurance policy or guarantee held in accordance with paragraph (12)(b).

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