494Appointment of receiver

494 Appointment of receiver (1) This section applies if the law society council decides to apply to the Supreme Court for the appointment of a receiver for a law practice. (2) On the application of the law society council, the Supreme Court may appoint a person as receiver for the law practice. (3) The Supreme Court may make the appointment if the court is of the opinion— (a) that the appointment is necessary to protect the interests of clients of the law practice in relation to trust money or trust property; or (b) that it may be appropriate that the provision of legal services be wound up and ended. (4) The Supreme Court may make the appointment whether or not the law practice or a principal of the practice has been given notice of the application and whether or not the practice or principal is a party to the proceeding. (5) The Legislation Act, part 19.3 does not apply in relation to the appointment. (6) Before starting to hear the application, the Supreme Court must order from the precincts of the court anyone who is not— (a) an officer of the court; or (b) a party, an officer or employee of a party, a legal representative of a party, or a clerk of a legal representative of a party; or (c) a principal of the law practice; or (d) a person who is about to or is in the course of giving evidence; or (e) a person permitted by the court to be present in the interests of justice. (7) The appointee must be— (a) an Australian legal practitioner who holds an unrestricted (b) a person holding accounting qualifications with experience in law practice trust accounts. (8) The appointee may (but need not) be an employee of the law society. (9) The appointment must— (a) identify the law practice and the receiver; and of a receiver; and (c) state any conditions imposed by the Supreme Court when the appointment is made; and (d) state any fees payable by way of remuneration to the receiver specifically for carrying out the receiver’s duties in relation to Note Par (d) is intended to exclude remuneration payable generally, eg as an employee of the law society. (e) provide for the legal costs and the expenses that may be incurred by the receiver in relation to the external intervention. (10) The appointment may— (a) state the term (if any) of the appointment; and (b) state any reporting requirements to be observed by the receiver.