Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 423

423. (1) If:

   (a)  it appears to the Court or to the Commission that a receiver of
        property of a corporation has not faithfully performed or is not
        faithfully performing the receiver's duties or has not observed or is
        not observing:

        (i)    a requirement of the order by which, or the instrument under
               which, the receiver was appointed;

        (ii)   a requirement of the Court; or

        (iii)  a requirement of this Act, of the regulations or of the rules;
               or

   (b)  a complaint is made to the Court or to the Commission by any person
        with respect to the conduct of a receiver of property of a corporation
        in connection with the performance of the receiver's duties; the Court
        or the Commission, as the case may be, may inquire into the matter
        and, where the Court or Commission so inquires, the Court may take
        such action as it thinks fit.

(2) The Commission may report to the Court any matter that in its opinion is a
misfeasance, neglect or omission on the part of the receiver and the Court may
order the receiver to make good any loss that the estate of the corporation
has sustained thereby and may make such other order or orders as it thinks
fit.

(3) The Court may at any time require a receiver of property of a corporation
to answer any inquiry in relation to the performance of the receiver's duties
as receiver and may examine the receiver or any other person on oath
concerning the performance of the receiver's duties and may direct an
investigation to be made of the receiver's books.