343Role of receivers

343 Role of receivers

343 Role of receivers

(1) The role of a receiver for a law practice is—

(a) to be the receiver of regulated property of the law practice; and

(b) to wind up and terminate the affairs of the law practice.

(2) For the purpose of winding up the affairs of the law practice and in the interests of the law practice’s clients, the designated tribunal may, by order, authorise—

(a) the receiver to carry on the legal practice engaged in by the law practice, if the receiver is an Australian legal practitioner who holds an Australian practising certificate as a principal authorising the receipt of trust money; or

(b) an Australian legal practitioner who holds an Australian practising certificate as a principal authorising the receipt of trust money, or a law practice whose principals are or include one or more Australian legal practitioners who hold Australian practising certificates authorising the receipt of trust money, specified in the instrument to carry on the legal practice on behalf of the receiver.

(3) Subject to any directions given by the designated tribunal, the receiver, if authorised under subsection (2) to carry on the legal practice engaged in by a law practice, has all the powers and other functions of a manager under this Chapter and is taken to have been appointed as manager for the law practice.

(4) The designated tribunal may, by order, terminate an authorisation to carry on a legal practice granted under subsection (2).

(5) For the purpose of exercising his or her powers and other functions under this section, the receiver may exercise any or all of the following powers—

(a) to enter and remain on premises used by the law practice for or in connection with its engaging in legal practice;

(b) to require the law practice, an associate or former associate of the law practice or any other person who has or had control of client files and associated documents (including documents relating to trust money received by the law practice) to give the receiver—

(i) access to the files and documents the receiver reasonably requires; and

(ii) information relating to client matters the receiver reasonably requires;