(1)  A law practice that holds trust money must give the prescribed authority at least 14 days' written notice of its intention –

(a) to cease to exist as a law practice; or

(b) to cease to engage in legal practice in this jurisdiction; or

(c) to cease to practise in such a way as to receive or hold trust money.

(2)  Within 14 days of ceasing to hold trust money, a law practice that holds trust money must give the prescribed authority –

(a) written notice of that fact; and

(b) if the practice has not given a notice under subregulation (1) within the previous 28 days, a notice that complies with that subregulation.

(3)  A notice under this regulation must include particulars sufficient to identify –

(a) a law practice's general trust accounts and controlled money accounts; and

(b) trust money controlled by the practice (or by an associate) pursuant to a power; and

(c) trust money invested by the practice.

(4)  In this regulation –

law practice includes a former law practice and the persons who were principals of a law practice immediately before the law practice ceased to exist as a law practice or to engage in legal practice in this jurisdiction.