73Law practice closing down, closing office or ceasing to receive

73 Law practice closing down, closing office or ceasing to receive or hold trust money (1) A law practice that holds trust money must give the Law Society at least 14 days' written notice of its intention: (a) to cease to exist as a law practice; or (b) to cease to engage in legal practice in this jurisdiction; or (c) to cease to practise in such a way as to receive trust money. (2) Within 14 days of ceasing to hold trust money, a law practice that holds trust money must give the Society: (a) written notice of that fact; and (b) if the practice has not given a notice under subregulation (1) within the previous 28 days, a notice that complies with that subregulation. (3) A notice under this regulation must include particulars sufficient to identify: (a) a law practice's general trust accounts and controlled money accounts; and (b) trust money controlled by the practice (or by an associate) pursuant to a power; and (c) trust money invested by the practice.

Legal Profession Regulations 2007 50 (4) In this regulation: law practice includes a former law practice and the persons who were principals of a law practice immediately before the law practice ceased to exist as a law practice or to engage in legal practice in this jurisdiction.