Conveyancers Licensing Act 2003

A receiver who believes on reasonable grounds that money held in an account with an authorised deposit-taking institution is receivable property may serve on the institution concerned an order (in this section referred to as a stop order) prohibiting operations on the account by any person other than the receiver or a person authorised by the receiver.

A stop order may be served by leaving it with the manager, accountant or other person appearing to be in charge at the branch of the authorised deposit-taking institution at which the account is kept, but has no effect unless there is annexed to it a copy of the order appointing the receiver.

An authorised deposit-taking institution served with a stop order—

must permit the receiver, or a person authorised by the receiver, to operate on the account to which the order relates, and

must not permit any withdrawal from the account otherwise than by, or by the authority of, the receiver.

A receiver may transfer money from an account the subject of a stop order to another account with the authorised deposit-taking institution in the name of the receiver to be dealt with as receivable property.

The authorised deposit-taking institution has the same obligations and protections—

in relation to an account the subject of a stop order, and

in relation to an account to which money in such an account is transferred,