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PROPERTY AND STOCK AGENTS ACT 2002 - SECT 142
Receiver may take possession of property
(1) A receiver may take possession of receivable property of the relevant
licensee or relevant associate.
(2) A person in possession, or having
control, of receivable property must permit the receiver to take possession of
the property if required by the receiver to do so.
(3) If a person fails to
comply with such a requirement, the Supreme Court may, on the application of
the receiver, order the person to deliver the property to the receiver.
(4)
If, on the application of a receiver, the Supreme Court is satisfied that such
an order has not been complied with, the Court-- (a) may order the seizure of
any receivable property located on premises specified in the order, and
(b)
may make such further order in the matter as it thinks fit.
(5) An order
under subsection (4) (a) authorises-- (a) any police officer, or
(b) the
receiver, or a person authorised by the receiver, together with any police
officer, to enter the premises specified in the order and to search for, seize
and remove any property that appears to be receivable property.
(6) An
application by a receiver under subsection (3) may be made-- (a) in the case
of property in the possession, or under the control, of the relevant licensee
or relevant associate--in the name of the receiver, or
(b) in any other
case--in the name of the relevant licensee or relevant associate.
(7) A
receiver must, as soon as possible, return property seized under this section
if it transpires that it is not receivable property.
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