Receiverships Act 1993

37 Orders to enforce receiver's duties

• (1) An application for an order under this section may be made by—

  • (a) the Registrar:

  • (b) a receiver:

  • (c) a person seeking appointment as a receiver:

  • (d) the grantor:

  • (e) a person with an interest in the property in receivership:

  • (f) a creditor of the grantor:

  • (g) a guarantor of an obligation of the grantor:

  • (h) if the grantor is a company, a liquidator of the grantor:

  • (i) if the receiver is a chartered accountant, the President of the New Zealand Institute of Chartered Accountants:

  • (j) if the receiver is a barrister and solicitor or a solicitor, the President of the New Zealand Law Society:

  • (k) if the grantor is a person who has been adjudged bankrupt, the Official Assignee of the estate of the grantor.

  (2) An application for an order under this section may be made by a receiver of the property of a grantor in relation to a failure to comply by another receiver of the property of the grantor.

  (3) No application may be made to the court in relation to a failure to comply unless notice of the failure to comply has been served on the receiver not less than 7 days before the date of the application and, as at the date of the application, there is a continuing failure to comply.

  (4) If the court is satisfied that there is, or has been, a failure to comply, the court may—

  • (a) relieve the receiver of the duty to comply, wholly or in part; or

  • (b) without prejudice to any other remedy that may be available in relation to a breach of duty by the receiver, order the receiver to comply to the extent specified in the order.

  (5) The court may, in respect of a person who fails to comply with an order made under subsection (4)(b), or is or becomes disqualified under section 5 to become or remain a receiver,—

  • (a) remove the receiver from office; or

  • (b) order that the person may be appointed and act or may continue to act as a receiver, notwithstanding the provisions of section 5.

  (6) If it is shown to the satisfaction of the court that a person is unfit to act as a receiver by reason of—

  • (a) persistent failures to comply; or

  • (b) the seriousness of a failure to comply,—

  the court must make, in relation to that person, a prohibition order for a period not exceeding 5 years.

  (7) A person to whom a prohibition order applies must not—

  • (a) act as a receiver in any current or other receivership; or

  • (b) act as a liquidator in any current or other liquidation.

  (8) In making an order under this section the court may, if it thinks fit,—

  • (a) make an order extending the time for compliance:

  • (b) impose a term or condition:

  • (c) make an ancillary order.

  (9) A copy of every order made under subsection (6) must, within 14 days of the order being made, be delivered by the applicant to the Official Assignee for New Zealand who must keep it on a public file indexed by reference to the name of the receiver concerned.

  Section 37(1)(i): amended, on 7 July 2010, by section 10 of the New Zealand Institute of Chartered Accountants Amendment Act 2010 (2010 No 74).