Termination of supervisor's appointment
578 Termination of supervisor's appointment
(1) The appointment of a supervisor of trust money of a law practice terminates in the following circumstances:
the term of the appointment comes to an end;
the appointment is set aside under section 606;
the appointment of a manager for the practice takes effect;
the appointment of a receiver for the practice takes effect;
(e) the supervisor has distributed all trust money received by the practice and wound up all trust accounts;
(f) a decision of the Law Society that the appointment be terminated has taken effect.
(2) The Society may decide in writing that the appointment be terminated immediately or with effect from a specified date.
(3) The Society must serve a written notice of the termination on all persons originally served with notice of the appointment.
This Act’s bill:Explanatory statementSecond reading speech
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