LEGAL PROFESSION ACT 1987 - SECT 97 Stop order on account

This legislation has been repealed.

LEGAL PROFESSION ACT 1987 - SECT 97

97 Stop order on account

(1) A receiver who believes on reasonable grounds that money at credit in an account with a bank, building society or credit union is receivable property may serve on the bank, building society or credit union an order prohibiting operations on the account by a person other than the receiver or a person authorised by the receiver.

(2) An order referred to in subsection (1):

(a) may be served by leaving it with the manager, accountant or other person appearing to be in charge at the branch of the bank, building society or credit union at which the account is kept, and

(b) is ineffective unless there is annexed to it a copy of the order appointing the receiver.

(3) A bank, building society or credit union served with an order under subsection (1) in relation to an account:

(a) shall permit the receiver, or a person authorised by the receiver, to operate on the account, and

(b) shall not permit any withdrawal from the account except by, or by the authority of, the receiver.

(4) A receiver may withdraw money from an account the subject of an order under subsection (1) and pay it to the credit of an account with the bank, building society or credit union in the name of the receiver to be dealt with as receivable property.

(5) In connection with an account:

(a) referred to in subsection (3)--the bank, building society or credit union has the same obligations and protections, or

(b) referred to in subsection (4)--the bank, building society or credit union has the same protections,

as it would have if the receiver were the relevant solicitor or relevant associate.