55 Supreme Court may appoint receiver
(1) The Supreme Court may, on the application of the Director-General, appoint a receiver of all or any of the property of a licensee and may make the appointment whether or not the licensee has been notified of the application or is a party to the proceedings.(2) Such an application may be made by the Director-General only if:(a) the licensee has made a request to the Director-General for the appointment of a receiver, or(b) the Director-General has suspended or cancelled the licensee’s licence under section 13, or(c) the Director-General is of the opinion (whether as a consequence of a determination by the Director-General under the Property, Stock and Business Agents Act 2002 or otherwise) that there has been, or that there may have been, a failure to account by the licensee, or(d) the Director-General is of the opinion that a person is unable to obtain payment or delivery of property held by the licensee because the licensee:and if the Director-General is of the opinion that it is necessary for the application to be made in order to protect the interests of other persons.• is mentally or physically infirm, or• is bankrupt, has applied to take the benefit of any law for the relief of bankrupt or insolvent debtors, has compounded with his or her creditors or has made an assignment of his or her remuneration for their benefit, or• is an inmate within the meaning of the Crimes (Administration of Sentences) Act 1999, or• has died, or• has abandoned his or her conveyancing business,(3) Nothing in this Division prevents a manager of a licensee’s conveyancing business from being appointed as a receiver of the licensee’s property.