New South Wales Consolidated Acts

LEGAL PROFESSION ACT 2004 - SECT 159

159 Incorporated legal practice that is subject to receivership under this Act and external administration under other legislation

(1) This section applies if an incorporated legal practice is the subject of both:

(a) the appointment of a Part 5.5 receiver, and

(b) the appointment of an external administrator.

(2) The Part 5.5 receiver is under a duty to notify the external administrator of the appointment of the Part 5.5 receiver, whether the appointment precedes, follows or is contemporaneous with the appointment of the external administrator.

(3) The Part 5.5 receiver or the external administrator (or both of them jointly) may apply to the Supreme Court for the resolution of issues arising from or in connection with the dual appointments and their respective powers.

(4) The Supreme Court may make any orders it considers appropriate, and no liability attaches to the Part 5.5 receiver or the external administrator for any act or omission done by the receiver or administrator in good faith for the purpose of carrying out or acting in accordance with the orders.

(5) The Law Society Council and the Regulator are entitled to intervene in the proceedings, unless the court determines that the proceedings do not concern or affect the provision of legal services by the incorporated legal practice.

(6) In this section:
"external administrator" means a person who is appointed to exercise powers under other legislation (whether or not of this jurisdiction) and who is prescribed, or of a class prescribed, by the regulations for the purposes of this definition.
"Part 5.5 receiver" means a receiver appointed under Part 5.5.