Treatment of shortfalls - CASS Provision: Difference between revisions

Treatment of shortfalls - CASS Provision (view source)

702 bytes added , 22 November 2019

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-{{cassanat|6|6.54}}
+{{a|cass|{{nuts|CASS|6.6.54}}}}''The equivalent provision under CASS 7 (for {{t|client money}} discrepancies) is CASS {{cassprov|7.15.29}}''
-{{nuts|CASS|6.6.54}}
+Yours truly reads that to mean you cannot simply put aside some of your own assets and grant a security interest in favour of clients over those assets, while maintaining legal ownership of them, even though that is plainly the nearest economic action for resolving a temporary shortfall scenario which is expected to be resolved. No, you must actually pass title to those assets to the clients, but with some unspecified reversionary right to the assets should the happy event come about that your shortfall is settled.
-''The equivalent provision under CASS 7 (for {{t|client money}} discrepancies) is CASS {{cassprov|7.15.29}}''
+Now giving clients outright ownership of assets they didn’t ask for and didn’t really want seems an odd tool to pick from the box, but there you have it. Life wasn’t meant to be easy.
 ''Here is {{ps14/9}}, which explains much of the [[great CASS rewrite]].''