sec.51Receivers—functions

### sec.51 Receivers—functions A receiver appointed under this division has the following functions— to take possession of receivership property; to manage receivership property; to receive claims against receivership property; if the agent held receivership property in trust— to identify the person or persons who have the right to it; and to distribute it under this division; to identify any defalcation that has, or may have, been committed; to report to the chief executive about the receivership. In carrying out its functions, the receiver must comply with parts 2 and 3 as if a reference in those parts to the agent were a reference to the receiver. (sec.51-ssec.1) A receiver appointed under this division has the following functions— to take possession of receivership property; to manage receivership property; to receive claims against receivership property; if the agent held receivership property in trust— to identify the person or persons who have the right to it; and to distribute it under this division; to identify any defalcation that has, or may have, been committed; to report to the chief executive about the receivership. (sec.51-ssec.2) In carrying out its functions, the receiver must comply with parts 2 and 3 as if a reference in those parts to the agent were a reference to the receiver. - (a) to take possession of receivership property; - (b) to manage receivership property; - (c) to receive claims against receivership property; - (d) if the agent held receivership property in trust— (i) to identify the person or persons who have the right to it; and (ii) to distribute it under this division; - (i) to identify the person or persons who have the right to it; and - (ii) to distribute it under this division; - (e) to identify any defalcation that has, or may have, been committed; - (f) to report to the chief executive about the receivership. - (i) to identify the person or persons who have the right to it; and - (ii) to distribute it under this division;