15Adjustment by court

#### 15 Adjustment by court 15 Adjustment by court > > (1) Where the court is satisfied that the terms of a frustrated contract or the events which have occurred are such that, in respect of the contract: > > > > > (a) Divisions 1 and 2 are manifestly inadequate or inappropriate, > > > > > (b) application of Divisions 1 and 2 would cause manifest injustice, or > > > > > (c) application of Divisions 1 and 2 would be excessively difficult or expensive, > > > > the court may, by order, exclude the contract from the operation of Divisions 1 and 2 and, subject to subsection (8), may, by order, substitute such adjustments in money or otherwise as it considers proper. > > > (2) Orders which the court may make under subsection (1) include: > > > > > (a) orders for the payment of interest, and > > > > > (b) orders as to the time when money shall be paid. > > > (3) In addition to its jurisdiction under subsections (1) and (2), the Supreme Court or the District Court may, for the purposes of this section, make orders for: > > > > > (a) the making of any disposition of property, > > > > > (b) the sale or other realisation of property, > > > > > (c) the disposal of the proceeds of sale or other realisation of property, > > > > > (d) the creation of a charge on property in favour of any person, > > > > > (e) the enforcement of a charge so created, > > > > > (f) the appointment and regulation of the proceedings of a receiver of property, and > > > > > (g) the vesting of property in any person. > > > (4) Sections 78 and 79 of the [Trustee Act 1925](/view/html/inforce/current/act-1925-014) apply to a vesting order, and to the power to make a vesting order, under subsection (3). > > > (5) Section 78 (2) of the [Trustee Act 1925](/view/html/inforce/current/act-1925-014) applies to a vesting order under subsection (3) as if subsection (3) were included in the provisions of Part 3 of that Act. > > > (6) In relation to a vesting order of the District Court, sections 78 and 79 of the [Trustee Act 1925](/view/html/inforce/current/act-1925-014) shall be read as if “Court” in those sections meant the District Court. > > > (7) Subsections (2) to (6) do not limit the generality of subsection (1). > > > (8) This section does not authorise the Local Court to give a judgment otherwise than for the payment of money. > > **s 15:** Am 1999 No 31, Sch 4.33; 2007 No 94, Sch 2.