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Real Estate Agents Act 2008

Real Estate Agents Authority - Powers of intervention

32: High Court Judge may give directions to administrator of trust account or cancel appointment

You could also call this:

"A High Court Judge can help with trust account problems by giving directions or cancelling an administrator's appointment."

Illustration for Real Estate Agents Act 2008

You can ask a High Court Judge to help with a trust account if the Authority appoints an administrator. The Authority must give a copy of the order to the real estate agent and others who might be affected. You might be able to apply to the High Court for an order if you are given a copy of the order. You can apply to the High Court within 14 days of getting the order. The administrator, the banker, or someone who claims to be entitled to money in the trust account can also apply to the High Court at any time. A High Court Judge can then give directions on what to do with the trust account. The High Court Judge can tell the administrator or banker what to do with the trust account. The Judge can also change or cancel the Authority's order to appoint an administrator. This can help sort out any issues with the trust account, as per the orders made under section 27 or 28.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1358219.

Topics:
Money and consumer rights > Consumer protectionHousing and property > Buying and selling homes
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Part 2Real Estate Agents Authority
Powers of intervention

32High Court Judge may give directions to administrator of trust account or cancel appointment

  1. If the Authority makes an order, under section 27 or 28, appointing an administrator or interim administrator, the Authority must, without delay, serve a copy of the order on—

  2. the agent concerned; and
    1. if the agent carries out agency work in partnership, any partner in the partnership; and
      1. any person who, to the knowledge of the Authority, is or may be entitled to any money held in the trust account administered by the administrator.

        1. A person on whom a copy of the order is served may, within 14 days after service of the order, apply to the High Court for an order under subsection (4).

        2. The following persons may, at any time while an order under section 27 or 28 is in force, apply for an order under subsection (4):

        3. the administrator or interim administrator:
          1. the banker with whom the trust account is kept:
            1. a person who claims to be entitled to any money held in the trust account, but who has not been served under subsection (1)(c).

              1. On an application under this section, a High Court Judge may, by order—

              2. direct the administrator, interim administrator, or the banker on the action to be taken in relation to the administration of the trust account (including the winding-up of that account):
                1. rescind or vary the order of the Authority by which the administrator or interim administrator was appointed.