326Circumstances warranting external intervention

326 Circumstances warranting external intervention

326 Circumstances warranting external intervention

External intervention may take place in relation to a law practice in any of the following circumstances—

(a) where a legal practitioner associate involved in the law practice has died, ceases to hold a current Australian practising certificate or a current Australian registration certificate, has become an insolvent under administration or is in prison;

(b) in the case of a law firm or an unincorporated legal practice—where the firm or group has been wound up or dissolved;

(c) in the case of an incorporated legal practice—where the corporation concerned ceases to be an incorporated legal practice, is being or has been wound up or has been deregistered or dissolved;

(d) in any case—where the designated local regulatory authority forms a belief on reasonable grounds that the law practice or an associate of the law practice—

(i) is not dealing adequately with trust money or trust property or is not properly attending to the affairs of the law practice; or

(ii) has committed a serious irregularity, or a serious irregularity has occurred, in relation to trust money or trust property or the affairs of the law practice; or

(iii) has failed to properly account in a timely manner to any person for trust money or trust property received by the law practice for or on behalf of that person; or

(iv) has failed to properly make a payment of trust money or a transfer of trust property when required to do so by a person entitled to that money or property or entitled to give a direction for payment or transfer; or

(v) is in breach of the Uniform Rules with the result that the record-keeping for the law practice’s trust accounts is inadequate; or

(vi) has been or is likely to be convicted of an offence relating to trust money or trust property; or

(vii) is the subject of an adverse finding in relation to a complaint relating to trust money or trust property received by the law practice; or

(viii) has failed to comply with any requirement of an investigator or external examiner appointed under this Law; or

(ix) has ceased to be engaged in legal practice without making provision for properly dealing with trust money or trust property received by the law practice or for properly winding up the affairs of the law practice;