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Receiverships Act 1993

12: Obligations of grantor

You could also call this:

"What a grantor must do to help the receiver"

Illustration for Receiverships Act 1993

When you are a grantor, you must do certain things. You must make all your books, documents, and information about the property available to the receiver. You must also verify that these books, documents, and information are complete and correct if the receiver asks you to. You have to give the receiver any help they need. If your company has a common seal, you must make it available for the receiver to use.

If you are a director of a company that is a grantor, you must do these things too. The receiver can ask the court to make you do these things if you do not do them. The court can make an order to make you comply with what the receiver is asking for.

You must follow these rules to help the receiver do their job.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM327718.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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11A: Provision of information and assistance to replacement receiver, or

"New receiver takes over, old receiver must help with information and documents."

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13: Execution of documents, or

"Signing documents on someone else's behalf as a receiver"

12Obligations of grantor

  1. A grantor and, in the case of a grantor that is a body corporate, every director of the grantor, must—

  2. make available to the receiver all books, documents, and information relating to the property in receivership in the grantor's possession or under the grantor's control:
    1. if required to do so by the receiver, verify, by statutory declaration, that the books, documents, and information are complete and correct:
      1. give the receiver such assistance as he or she may reasonably require:
        1. if the grantor is a body corporate that has a common seal, make the common seal available for use by the receiver.

          1. On the application of the receiver, the court may make an order requiring the grantor, or if the grantor is a body corporate, a director of the grantor to comply with subsection (1).