Queensland Consolidated Acts

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AGENTS FINANCIAL ADMINISTRATION ACT 2014 - SECT 51

Receivers—functions

51 Receivers—functions

(1) A receiver appointed under this division has the following functions—
(a) to take possession of receivership property;
(b) to manage receivership property;
(c) to receive claims against receivership property;
(d) if the agent held receivership property in trust—
(i) to identify the person or persons who have the right to it; and
(ii) to distribute it under this division;
(e) to identify any defalcation that has, or may have, been committed;
(f) to report to the chief executive about the receivership.
(2) In carrying out its functions, the receiver must comply with parts 2 and 3 as if a reference in those parts to the agent were a reference to the receiver.



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