(1)  If the prescribed authority, Board or external intervener thinks it is necessary to do so to protect money or other property belonging to a person, it may cause a notice in writing to be served –

(a) on a manager of an ADI in which a law practice keeps a trust account prohibiting the ADI from permitting a withdrawal from, or any other dealing with, that account (other than a deposit of money into that account) unless the Supreme Court otherwise orders under section 368 ; and

(b) on a person who holds on behalf of a law practice any property (not being money in that trust account) prohibiting any dealing with that property unless the Supreme Court otherwise orders under section 368 .

(2)  A notice takes effect immediately upon its service and remains in force until –

(a) it is revoked under subsection (3) ; or

(b) it is varied on appeal under section 368 .

(3)  The prescribed authority, Board or external intervener may revoke a notice referred to in subsection (1) at any time.

(4)  A person who fails to comply with a notice under subsection (1) is guilty of an offence and is liable on summary conviction to a fine not exceeding 100 penalty units.