(1)  This section applies when the Board or prescribed authority becomes aware that one or more of the circumstances referred to in section 523 exist in relation to a law practice and decides that, having regard to the interests of the clients of the practice and to other matters that it considers appropriate, external intervention is warranted.

(2)  The prescribed authority may determine to appoint a supervisor of trust money of the law practice, if the authority is of the opinion –

(a) that external intervention is required because of issues relating to the practice's trust accounts; and

(b) that it is not appropriate that the provision of legal services by the practice be wound up and terminated because of those issues.

(3)  The Board may determine –

(a) to appoint a manager for the law practice, if the Board is of the opinion –

(i) that external intervention is required because of issues relating to the practice's trust records; or

(ii) that the appointment is necessary to protect the interests of clients in relation to trust money or trust property; or

(iii) that there is a need for an independent person to be appointed to take over professional and operational responsibility for the practice; or

(b) to apply to the Supreme Court to appoint a receiver for the law practice.

(4)  On the hearing of an application under subsection (3)(b) , the Supreme Court may determine to appoint a receiver for a law practice if the Supreme Court is of the opinion –

(a) that the appointment is necessary to protect the interests of clients in relation to trust money or trust property; or

(b) that it may be appropriate that the provision of legal services by the practice be wound up and terminated.

(5)  The prescribed authority, Board or Supreme Court may, from time to time, make further determinations in relation to the law practice and for that purpose may revoke a previous determination with effect from a date or event specified by the prescribed authority, Board or Supreme Court.

(6)  A further determination may be made under subsection (5) whether or not there has been any change in the circumstances in consequence of which the original determination was made and whether or not any further circumstances have come into existence in relation to the law practice after the original determination was made.

(7)  An appointment of an external intervener for a law practice may be made in respect of the practice generally or may be limited in any way the prescribed authority, Board or Supreme Court considers appropriate, including, for example, to matters connected with a particular legal practitioner associate or to matters connected with a particular office or a particular subject matter.

PART 5.3 - Supervisors of Trust Money