CONVEYANCERS ACT 2006 - SECT 96 Appointment of statutory manager

CONVEYANCERS ACT 2006 - SECT 96

    (1)     If the Director is satisfied that it is necessary to do so in order to protect the interests of consumers, the Director may, by instrument, appoint a statutory manager to carry on a conveyancing business in any of the following circumstances—

        (a)     the relevant licensee has requested that the Director appoint a statutory manager;

        (b)     the licence of the relevant licensee has been cancelled or suspended;

        (c)     the Director is of the opinion that there has been, or may have been, a failure to account by the relevant licensee;

        (d)     the Director is of the opinion that a person is unable to obtain payment or delivery of property held by the relevant licensee because the licensee—

              (i)     is mentally or physically infirm; or

              (ii)     is an insolvent under administration; or

              (iii)     is a prisoner within the meaning of the Corrections Act 1986 ; or

              (iv)     has died; or

              (v)     has abandoned the licensee's conveyancing business.

    (2)     In the case of a conveyancing business that is conducted by 2 or more licensees in partnership, a reference in subsection (1) to a relevant licensee is to be read as a reference to all of the licensees in the partnership.

    (3)     An instrument of appointment of a statutory manager under subsection (1) must contain the following information—

        (a)     the name of the person appointed as statutory manager;

        (b)     the name of the relevant conveyancing business;

        (c)     the address of the principal place of business in Victoria of the relevant conveyancing business;

        (d)     the term of the appointment;

        (e)     details of any conditions to which the appointment is subject;

        (f)     the remuneration to which the statutory manager is entitled from the conveyancing business;

        (g)     how the costs and other expenses of the conveyancing business are to be met during the appointment;

        (h)     any reporting requirements to be observed by the statutory manager.

    (4)     The Director may include any other information in an instrument of appointment that the Director considers to be appropriate.