Power of receiver to take delivery of regulated property
518 Power of receiver to take delivery of regulated property
If the receiver for a law practice believes that another person is under an obligation, or will later be under an obligation, to deliver regulated property of the law practice to the practice, the receiver may, by written notice, require that other person to deliver the property to the receiver.
If a person has notice that a receiver has been appointed for a law practice and the person is under an obligation to deliver regulated property of the law practice to the practice, the person must deliver the property to the receiver.
Maximum penalty—100 penalty units.
A document signed by the receiver acknowledging the receipt of regulated property of the law practice delivered to the receiver is as valid and effectual as if it had been given by the law practice.
This Act’s bill:Explanatory memorandum
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