(1) This section applies if the law society becomes aware that 1 or more of the circumstances mentioned in section 497 exist in relation to a law practice and decides that, having regard to the interests of the clients of the practice and to other matters that it considers appropriate, external intervention is warranted.
(2) The law society may--
(a) appoint a supervisor of trust money of the law practice, if the law society considers--
(i) that external intervention is required because of issues relating to the practice's trust accounts; and
(ii) that it is not appropriate that the provision of legal services by the practice be wound up and terminated because of those issues; or
(b) appoint a manager for the law practice, if the law society believes that--
(i) external intervention is required because of issues relating to the practice's trust records; or
(ii) the appointment is necessary to protect the interests of clients in relation to trust money or trust property; or
(iii) there is a need for an independent person to be appointed to take over professional and operational responsibility for the practice; or
(c) appoint a receiver for the law practice, if the law society considers--
(i) that the appointment is necessary to protect the interests of clients in relation to trust money or trust property; or
(ii) that it may be appropriate that the provision of legal services by the practice be wound up and terminated.
(3) The law society may make further appointments under subsection (2) in relation to the law practice and for that purpose may revoke a previous appointment with effect from a date or event stated by it in an instrument of revocation or instrument of further appointment.
(4) A further appointment may be made under subsection (3) whether or not there has been any change in the circumstances in consequence of which the original appointment was made and whether or not any further circumstances have come into existence in relation to the law practice after the original appointment was made.
(5) An appointment of an external intervener for a law practice may be made in relation to the practice generally or may be limited in any way the law society considers appropriate, including, for example, to matters connected with a particular legal practitioner associate, legal office or subject-matter.