Commonwealth Consolidated Regulations

FEDERAL COURT RULES 2011 - RULE 14.26

  (1)   If a receiver fails to pay into Court an amount due by the receiver, a party or an interested person may apply to the Court for an order for:

  (a)   the discharge of the receiver; and

  (b)   the appointment of another person as receiver; and

  (c)   the payment of costs.

  (2)   If a receiver fails to pay into Court an amount due by the receiver, a party or an interested person may apply to the Court for an order that the receiver be charged interest on the unpaid amount.

  (3)   For subrule (2) the rate of interest is the cash rate of interest set by the Reserve Bank of Australia from time to time during the period of the receiver's failure, plus 4%.

Note 1:   Interested person is defined in the Dictionary.

Note 2:   This rule is in addition to the Court's power to punish a person for contempt.