The following provisions apply to the convening of a conference under rule 541 or 542 :

(a) a party who is ready to go to trial may give each other party a notice specifying the date, time and place for the holding of a compulsory conference –

(i) if the proceeding is an action, on the expiration of 21 days after the date on which the pleadings are closed; or

(ii) in any other case, once the party is ready to proceed to a hearing;

(b) each other party is to attend the compulsory conference in accordance with the notice.