380Administration of solicitor's trust account

1. If a District Law Society to which section 372 applies holds, on the commencement of that section, any money received by that Society as the result of the exercise of its powers under section 82 of the Law Practitioners Act 1982, or receives, after the commencement of that section, any money paid to it as the result of the service, before or after the commencement of that section, of a notice under section 82(1) of that Act, that District Law Society, before it is dissolved under section 372(b), must, subject to any order of the High Court, pay that money to the New Zealand Law Society.

2. Any money paid to the New Zealand Law Society under subsection (1) is to be held by that Society on the same basis as it was held by the District Law Society, and sections 82 and 84 of the Law Practitioners Act 1982 are to continue to apply, with all necessary modifications, to any such money.