Queensland Consolidated Acts

AGENTS FINANCIAL ADMINISTRATION ACT 2014 - SECT 57

57 Dealing with receivership property

(1) A receiver may deal with receivership property in the same way as the agent may have lawfully dealt with the property.

(2) Without limiting subsection (1) , the receiver may do the following—

(a) if the agent had no general trust account, open a general trust account;

(b) claim or receive a debt owing to the agent in connection with the receivership property;

(c) start or defend a proceeding concerning the receivership property for the agent;

(d) engage a legal representative or other representative to give advice;

(e) engage employees or representatives to help the receiver carry out the receiver’s functions;

(f) if the agent had power to sell or require the sale of the receivership property, sell or require the sale of the property.