Western Australian Consolidated Acts Western Australian Consolidated Acts (1) A mortgagee
entitled to appoint a receiver under the power in that behalf conferred by
this Part shall not appoint a receiver until he has become entitled to
exercise the power of sale conferred by this Part, or by the
Transfer of Land Act 1893 , but may then, by writing under his hand,
appoint such person as he thinks fit to be receiver.
(2) A receiver
appointed under the powers conferred by this Part, shall be deemed to be the
agent of the mortgagor; and the mortgagor is solely responsible for the
receiver’s acts or defaults unless the mortgage deed otherwise provides.
(3) The receiver has
power to demand and recover all the income of which he is appointed receiver,
by action or otherwise, in the name either of the mortgagor or of the
mortgagee, to the full extent of the estate or interest that the mortgagor
could dispose of, and to give effectual receipts accordingly for the income,
and to exercise any powers that may have been delegated to him by the
mortgagee pursuant to this Part.
(4) A person paying
money to the receiver shall not be concerned to inquire whether any case has
happened to authorise the receiver to act.
(5) The receiver may
be removed, and a new receiver may be appointed, from time to time by the
mortgagee by writing under his hand.
(6) The receiver is
for his remuneration, and in satisfaction of all costs, charges and expenses
incurred by him as receiver, entitled to retain out of any money received by
him, a commission at such rate, not exceeding 5% on the gross amount of all
money received, as is specified in his appointment, and if no rate is so
specified, then at the rate of 5% on that gross amount, or at such higher rate
as the Court thinks fit to allow, on application made by him for that purpose.
(7) The receiver
shall, if so directed in writing by the mortgagee, insure to the extent (if
any) to which the mortgagee might have insured and keep insured against loss
or damage by fire, storm, tempest and earthquake, out of the money received by
him, any building, effects or property comprised in the mortgage, whether
affixed to the freehold or not, being of an insurable nature.