(1) The provisions of Part 5 apply to the records and accounts kept by a statutory manager in respect of a conveyancing business in the same way that they apply to the records and accounts kept by a licensee.
(2) The trust records, trust accounts and controlled money accounts of a conveyancing business under statutory management must be kept separately from—
(a) the records and accounts of the conveyancing business that existed prior to the appointment of the statutory manager; and
(b) the trust records, trust accounts and controlled money accounts of any other conveyancing business in respect of which the statutory manager has been appointed.