Commonwealth Consolidated Regulations

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Appointment and powers of receiver

             (1)  In considering an application under subrule 25B.54(1), the Court must have regard to:

                     (a)  the amount of the debt; and

                     (b)  the amount likely to be obtained by the receiver; and

                     (c)  the probable costs of appointing and paying a receiver.

             (2)  When appointing a receiver, the Court must make orders about:

                     (a)  the receiver's remuneration, if any; and

                     (b)  the security to be given by the receiver; and

                     (c)  the powers of the receiver; and

                     (d)  the parties to whom, and the intervals or dates at which, the receiver is to submit accounts.

             (3)  The Court may authorise a receiver to do (in the receiver's name or otherwise) anything the payer may do.

             (4)  The receiver's powers operate to the exclusion of a payer's powers during the receivership.

             (5)  The Court may, on application by an interested person, make procedural orders about the powers of the receiver.

Note:          For rules relating to the enforcement of obligations other than an obligation to pay money, see Subdivision 25B.2.7.

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