(1) The appointment of
a manager for 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 508;
(c) the
appointment of a receiver for the practice takes effect, where the terms of
appointment indicate that the receiver is authorised to exercise the functions
of a manager;
(d) the
manager has wound-up the affairs of the practice;
(e) a
determination of the Board that the appointment be terminated takes effect.
(2) The Board may
determine in writing that the appointment be terminated immediately or with
effect from a specified date.
(3) If the appointment
terminates in the circumstances referred to in
subsection (1)(a), (c) or (e), the former manager must, as soon
as practicable after the termination, transfer and deliver the regulated
property and client files of the law practice to —
(a)
another external intervener appointed for the practice; or
(b) the
practice, if another external intervener is not appointed for the practice.
(4) The former manager
need not transfer regulated property and files to the law practice in
compliance with subsection (3) unless the manager’s expenses have
been paid to the Board.
(5) The Board must
serve a written notice of the termination on all persons originally served
with notice of the appointment.