Other formats

    Adobe Portable Document Format file (facsimile images)   TEI XML file   ePub eBook file  

Connect

    mail icontwitter iconBlogspot iconrss icon

New Zealand: Acts affecting Native Lands, 1886, 1888-91 and 1894-95

As to Collection Op Rates by Creditors of Local Authority

page 21

As to Collection Op Rates by Creditors of Local Authority.

75.When and so often as any local authority fails to pay at theCreditor of local authority secured on rate may apply to the Supreme Court for appointment of Receiver. proper time and place for so paying any sum either of principal or interest which it ought to pay, and the payment of which is secured upon any rate levied by it, then immediately or at any time thereafter any person to whom such sum is owing may apply ex parte by petition in a summary way to a Judge of the Supreme Court for relief under this Act, and the Judge may, if satisfied of the truth of the matters alleged in such petition, appoint, upon such terms as to security and remuneration as he shall think fit, a Receiver of the rate liable for the payment of such sum.
76.Such rate shall from the date of the said order, and uponOn appointment of Receiver rate shall rest in him. its being publicly notified by the Receiver, vest in the Receiver, and shall cease to be vested in the local authority.
77.All powers for the recovery of such rate shall, after thePowers of local authority exercisable by Receiver. appointment of the Receiver, and upon its being publicly notified, cease to be exercised by the local authority, and shall be exercised by the Receiver.
78.All moneys received by the Receiver shall be appliedMoneys collected by Receiver, how applied.
(1.)In payment of the expenses of the application and order;
(2.)In payment of the Receiver's remuneration fixed as aforesaid, and his reasonable and necessary expenses;
(3.)In payment pro rata of the sums then overdue by the local authority which are secured by such rate; and
(4.)The residue, after payment of the above, to the local authority:
And the Receiver shall account for all such moneys in such manner as the Judge directs.
79.When all the sums then overdue are paid, or at any timeWhen Receiver's powers cease. by an order of a Judge of the Supreme Court, on the application of the local authority, if such Judge shall think fit to make such order, the powers of the Receiver shall cease, and he shall forthwith pay any moneys in his hands to the local authority, who shall again be capable of exercising the powers of which the appointment of the Receiver had deprived them.