Power of receiver to take delivery of regulated property
592 Power of receiver to take delivery of regulated property
(1) If a receiver for a law practice believes on reasonable grounds that another person is under an obligation, or will later be under an obligation, to deliver regulated property to the practice, the receiver may, by notice in writing, require that other person to deliver the property to the receiver.
A person is guilty of an offence if:
(a) the person has notice that a receiver has been appointed for a law practice; and
(b) the person has possession or control of regulated property of the practice; and
(c) the person is given notice under subsection (1) in relation to the property or otherwise has notice that the person is under an obligation to deliver the property to the receiver for the practice; and
the person fails to deliver the property to the receiver.
Maximum penalty: 100 penalty units.
(3) A document signed by a receiver acknowledging the receipt of regulated property delivered to the receiver is as valid and effectual as if it had been given by the law practice.
This Act’s bill:Explanatory statementSecond reading speech
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