71Appointment

71 Appointment (1) The Board may apply to the Supreme Court to appoint a registered company auditor to be receiver of the trust moneys of a licensed agent in the following circumstances: (a) where the Board is required to hold an inquiry under section 68(4); (b) where an agent has, through physical or mental illness, become incapable of carrying on business as an agent; (c) on the death of an agent; (d) or any other ground that the Board thinks fit, and the Supreme Court may appoint the registered company auditor accordingly. (2) The Board may apply to the Supreme Court for the appointment of a registered company auditor as the receiver of moneys received by a person who, although not licensed under this Act, appears to the Board to be carrying on business as a real estate agent, business agent or conveyancing agent, and the Supreme Court may, if satisfied that the person is holding moneys in that capacity, appoint the registered company auditor accordingly.

Agents Licensing Act 1979 55