333Termination of supervisor’s appointment

333 Termination of supervisor’s appointment

333 Termination of supervisor’s appointment

(1) The appointment of a supervisor of trust money of a law practice terminates in the following circumstances—

(a) the term of the appointment comes to an end;

(b) the appointment is set aside under section 358;

(c) the appointment of a manager for the law practice takes effect;

(d) the appointment of a receiver for the law practice takes effect;

(e) the supervisor has distributed all trust money received by the law practice and wound up all trust accounts;

(f) a determination of the designated local regulatory authority that the appointment be terminated has taken effect.

(2) The designated local regulatory authority may determine in writing that the appointment be terminated immediately or with effect from a specified date.

(3) The designated local regulatory authority must serve a written notice of the termination on all persons originally served with notice of the appointment.