Law practice closing down, closing office or ceasing to receive or hold trust money
51 Law practice closing down, closing office or ceasing to receive or hold trust money
A law practice that ceases to hold trust money because it ceases to exist as a law practice, to engage in legal practice or to practise in such a way as to receive trust money must, within 14 days of so ceasing to hold trust money, give the designated local regulatory authority—
written notice of such of those facts as are applicable and the dates of their occurrence, and
particulars sufficient to identify the law practice’s general trust accounts.
In this rule, law practice includes a former law practice and the persons who were principals of the law practice immediately before the law practice ceased to exist as a law practice or to engage in legal practice.
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