CONVEYANCERS ACT 2006 - SECT 95 Definitions

CONVEYANCERS ACT 2006 - SECT 95

In this Part—

"expenses", of a statutory management or receivership, means any one or more of the following—

        (a)     the remuneration payable to the statutory manager or receiver;

        (b)     the expenses incurred in the course of the statutory management or receivership;

        (c)     the costs of legal proceedings involved in the statutory management or receivership;

        (d)     any reimbursement of the statutory manager or receiver under this Part;

"former licensee", in relation to a licence that has been suspended or cancelled, includes the person who held the licence immediately before its suspension or cancellation;

"licensee" includes—

        (a)     a firm of licensees; and

        (b)     a former licensee; and

        (c)     except in relation to anything done or omitted by a licensee, the personal representative of a deceased licensee or a deceased former licensee;

"property" of a licensee means—

        (a)     money or other property received by the licensee on behalf of another person in the conduct of a conveyancing business; or

        (b)     interest, dividends, income, profits or other property derived from or acquired with money or other property referred to in paragraph (a); or

        (c)     documents and records of any description relating to anything referred to in paragraph (a) or (b) or to the licensee's conveyancing business; or

        (d)     any means by which any records referred to in paragraph (c) that are not written may be reproduced in writing—

and, in relation to a licensee whose conveyancing business is under statutory management, includes any property of the business;

"receivable property" means property of a licensee or of an associate of a licensee that is the subject of an order appointing a receiver, and includes property that, but for its having being taken, paid or transferred unlawfully in breach of trust, would be receivable property;

"relevant associate" means an associate of the licensee in respect of whose property a receiver is appointed;

"relevant licensee" means—

        (a)     in relation to a statutory management, the licensee in respect of whose conveyancing business the statutory manager was appointed; and

        (b)     in relation to a receivership, the licensee in respect of whose property the receiver was appointed.

Division 2—Statutory managers