Queensland Consolidated Acts

AGENTS FINANCIAL ADMINISTRATION ACT 2014 - SECT 53

53 Possession of receivership property

(1) A receiver may take or enter into possession of receivership property.

(2) As soon as practicable after taking or entering into possession of receivership property, the receiver must give a receipt for it to the person from whom the property was taken or who held possession of the property.

(3) The receiver must allow a person who would be entitled to the receivership property if it were not in the receiver’s possession—

(a) to inspect it; or

(b) if it is a document, to take a copy of it.

(4) The receiver must return receivership property the receiver is satisfied is not required for the receivership to the agent or other person who has the right to it.

(5) The receiver may take or enter into possession of receivership property under subsection (1) despite a lien or other security over it claimed by another person.

(6) However, the taking or entry into possession does not affect the person’s claim to the lien or other security against a person other than the receiver.