New Zealand Legislation: Regulations

15 Cessation of practice

• (1) If a practice ceases to provide regulated services, the practice must immediately—

  • (a) deliver all unused trust account receipt forms relating to the practice to the relevant society or dispose of them as directed by that society; and

  • (b) ensure that all trust bank accounts are closed and all money in them paid to the persons entitled; and

  • (c) if it generates receipt forms electronically, take appropriate steps to ensure that no further trust account receipts are generated.

  (2) If a practitioner who is not in partnership and is not a director of an incorporated firm with more than 1 director dies, the relevant society must, unless the practice is being conducted under section 44 and Schedule 1 of the Act, immediately—

  • (a) take charge of all unused trust account receipt forms relating to the practice and dispose of them as it thinks fit; and

  • (b) ensure that all trust bank accounts are closed and all money in them paid to the persons entitled.