Receiverships Act 1993

35: Court may terminate or limit receivership

You could also call this:

"The court can stop or limit a receivership if someone asks them to and it's no longer needed."

The court can stop or limit a receivership if you apply to them. You can ask the court to order the receiver to stop acting as a receiver from a certain date, and not let anyone else become a receiver for that property. The court can also order the receiver to only deal with certain assets from that date.

You can apply to the court if you are the grantor, or if you are a liquidator for a company that is the grantor, or if you are the Official Assignee for a grantor who has been bankrupt. The court will only make an order if they think the purpose of the receivership has been met, or if circumstances have changed and the receivership is no longer needed.

The court can make an order with conditions, and they can stop someone from taking control of the property. The order does not usually affect any security or charge over the property, but the court can change or cancel the order if someone applies to them. You must give the receiver a copy of your application at least 7 days before the court hearing, and the receiver can come to the hearing and have a say.

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This page was last updated on 18 July 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM327761.

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34: Court supervision of receivers, or

"The court helps receivers do their job and makes sure they are paid fairly and act correctly."

36: Meaning of failure to comply, or

"What happens when a receiver breaks the rules"

35Court may terminate or limit receivership

The court may, on the application of a person referred to in subsection (2),—
order that a receiver must cease to act as such as from a specified date, and prohibit the appointment of any other receiver in respect of the property in receivership:
order that a receiver must, as from a specified date, act only in respect of specified assets forming part of the property in receivership.

Any of the following persons may apply to the court under subsection (1):
the grantor:
if the grantor is a company, a liquidator:
if the grantor is a person who has been adjudged bankrupt, the Official Assignee of the estate of the grantor.

An order may be made under subsection (1) only if the court is satisfied that—
the purpose of the receivership has been satisfied so far as possible; or
circumstances no longer justify its continuation.

Unless the court orders otherwise, a copy of an application under this section must be served on the receiver not less than 7 days before the hearing of the application, and the receiver may appear and be heard at the hearing.
An order under subsection (1) may be made on such terms and conditions as the court thinks fit.
In making an order under subsection (1), the court may prohibit a person in whose interests the receiver was appointed from taking possession or assuming control of the property in receivership.
Except as provided by subsection (6), an order under this section does not affect a security or charge over the property in respect of which the order is made.
The court may, on the application of any person who applied for or is affected by the order, rescind or amend an order made under this section.

Compare

1955 No 63 s 346A
1980 No 43 s 41