500Power of receiver to take delivery of regulated property

500 Power of receiver to take delivery of regulated property (1) If a receiver for a law practice believes, on reasonable grounds, that someone is under an obligation, or will later be under an obligation, to give regulated property to the practice, the receiver may by written notice require the other person to give the property to the receiver. (a) the person has notice that a receiver has been appointed for a law practice; and

(b) the person has possession or control of regulated property of the (c) the person is given a notice under subsection (1) in relation to the property or otherwise has notice that the person is under an obligation to give the property to the receiver of the practice; and (d) the person fails to give the property to the receiver. (3) A document signed by a receiver acknowledging the receipt of regulated property given to the receiver is as effective as if it had been given by the law practice.