Receiverships Act 1993

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Reprint as at 1 January 2008

Receiverships Act 1993

Public Act1993 No 122
Date of assent28 September 1993
Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this eprint.

A general outline of these changes is set out in the notes at the end of this eprint, together with other explanatory material about this eprint.

This Act is administered in the Ministry of Commerce

Contents

Title

1 Short Title and commencement

2 Interpretation

3 Public notice

4 Application

5 Qualifications of receivers

6 Appointment of receivers under deeds and agreements

7 Extent of power to appoint receiver

8 Notice of appointment

9 Application of section 92 of Property Law Act 1952 to receivers [Repealed]

10 Notice of receivership

11 Vacancy in office of receiver

12 Obligations of grantor

13 Execution of documents

14 Powers of receivers

15 Power to make calls on shares

16 Validity of acts of receivers

17 Consent of mortgagee to sale of property

18 General duties of receivers

19 Duty of receiver selling property

20 No defence or indemnity

21 Duty in relation to money

22 Accounting records

23 First report by receiver

24 Further reports by receiver

25 Extension of time for preparing reports

26 Persons entitled to receive reports

27 Persons entitled to inspect reports

28 Duty to notify suspected offences against other Acts

29 Notice of end of receivership

30 Preferential claims

30A Extinguishment of subordinate security interests

30B Priorities on distribution by receiver of surplus representing proceeds of personal property

30C Surplus may be paid into court

30D Meaning of surplus and net proceeds

31 Powers of receiver on liquidation or bankruptcy

32 Liabilities of receiver

33 Relief from liability

34 Court supervision of receivers

35 Court may terminate or limit receivership

36 Meaning of failure to comply

37 Orders to enforce receiver's duties

38 Special provisions relating to evidence

39 Orders protecting property in receivership

40 Refusal to supply essential services prohibited

Local authorities

40A Instrument may provide for appointment of receiver

40B Power of Court to appoint receiver

40C Powers and duties of receivers

40D Constraints on receiver

40E Protection for receiver

41 Repeals

Schedule 1
Modifications and exceptions that apply in relation to receivers of assets of local authorities

Reprint notes

An Act to reform the law relating to receivers