496Effect of service of notice of appointment of receiver

496 Effect of service of notice of appointment of receiver (a) the person is given notice under section 495 of the appointment of a receiver for a law practice; and (b) the person is a legal practitioner associate of the practice who is named in the notice under section 495 (2) (h); and (c) the person participates in the affairs of the practice. (2) Strict liability applies to subsection (1) (a) and (b). (3) If an ADI is given notice under section 495 of the appointment of a receiver for a law practice, then, while the appointment is in force, the ADI must ensure that no funds are withdrawn or transferred from a trust account of the practice unless— drawn on the account signed by— (iii) a nominee of the receiver or manager; or (b) the withdrawal or transfer is made by means of electronic or internet banking facilities by— (iii) a nominee of the receiver or manager; or by— (iii) a nominee of the receiver or manager. (4) A person commits an offence if— (a) the person is given notice under section 495 of the appointment of a receiver for a law practice; and (5) Strict liability applies to subsection (4) (a). (6) Subsection (4) does not apply to an ADI, the receiver for the law practice or a manager for the practice. (7) The receiver for a law practice may, for subsection (3) (b), enter into arrangements with an ADI for withdrawing funds from a trust account of the practice using electronic or internet banking facilities. (8) If an amount is withdrawn or transferred in contravention of subsection (2) from a trust account of the law practice kept with an ADI, the receiver for the practice, or a manager for the practice, may recover the amount from the ADI as a debt in a court of competent (9) The receiver or manager for the law practice must pay any amount recovered from the ADI under subsection (8) into the trust account of the practice or another trust account nominated by the manager or receiver.