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Receiverships Act 1993

8: Notice of appointment

You could also call this:

"Telling people you're in charge of someone's property as a receiver"

Illustration for Receiverships Act 1993

When you are appointed as a receiver, you must tell the grantor and the Registrar about your appointment by the end of the next working day. You must give the Registrar your full name, the date of your appointment, your business address, and a brief description of the property in receivership. You also need to tell them who appointed you and describe the deed or agreement that says you are the receiver.

You have 5 working days to give public notice of your appointment, including the same details you gave the Registrar, and you must do this in accordance with section 3(1)(a). If you are taking over from another receiver, you must say so in the notice. Your notice must also say that receivers must be licensed insolvency practitioners and that people can get more information from the Registrar.

If you do not follow these rules, you can be fined up to $10,000.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM327714.

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8Notice of appointment

  1. A receiver must, before the end of the next working day after the receiver’s appointment,—

  2. give to the grantor written notice of the appointment; and
    1. give to the Registrar written notice of the appointment, including—
      1. the receiver’s full name:
        1. the date of the appointment:
          1. the receiver’s business address:
            1. a brief description of the property in receivership:
              1. the name of the person who appointed the receiver or, if the receiver was appointed by the court, the name of the person who applied for the receiver to be appointed:
                1. a description of the deed, agreement, or instrument by or under which the receiver was appointed:
                  1. a copy of the notice referred to in paragraph (a).

                  2. Within 5 working days after the receiver’s appointment, the receiver must give notice of the appointment, including the matters described in subsection (1)(b)(i) to (vi), in accordance with section 3(1)(a).

                  3. Where the appointment of the receiver is in addition to a receiver who already holds office or is in place of a person who has vacated office as receiver, as the case may be, every notice under this section must state that fact.

                  4. A notice given under this section must include a statement that receivers are required to be licensed insolvency practitioners, and that more information about the regulation of insolvency practitioners is available from the Registrar.

                  5. Every receiver who contravenes this section commits an offence and is liable on conviction to a fine not exceeding $10,000.

                  Notes
                  • Section 8(1): replaced, on , by section 64(1) of the Insolvency Practitioners Regulation (Amendments) Act 2019 (2019 No 28).
                  • Section 8(1A): inserted, on , by section 64(2) of the Insolvency Practitioners Regulation (Amendments) Act 2019 (2019 No 28).
                  • Section 8(3): replaced, on , by section 64(3) of the Insolvency Practitioners Regulation (Amendments) Act 2019 (2019 No 28).
                  • Section 8(4): amended, on , by section 413 of the Criminal Procedure Act 2011 (2011 No 81).