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AGENTS FINANCIAL ADMINISTRATION ACT 2014 - SECT 64
Recovery of remuneration and costs
64 Recovery of remuneration and costs
(1) The following persons are liable to reimburse the chief executive for an
amount paid to a receiver, including an amount paid from the fund, for the
receiver’s remuneration and costs— (a) the agent in relation to whom the
receiver was appointed;
(b) if the agent is a corporation, the executive
officers of the corporation when the event for which the chief executive
appointed the receiver happened.
(2) If more than 1 person is liable to
reimburse the chief executive, the liability of the persons is joint and
several.
(3) The chief executive may recover an amount liable to be
reimbursed under subsection (1) as a debt.
(4) Before taking action to
recover the amount of the debt, the chief executive must give a letter of
demand to each person liable to reimburse the chief executive, requiring the
person to pay the amount to the chief executive within 1 month after receiving
the letter.
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