126Appointment of manager

#### 126 Appointment of manager 126 Appointment of manager > > (1) The Secretary may appoint a manager for a licensee’s business in any of the following cases if the Secretary is of the opinion that it is necessary to make the appointment in order to protect the interests of other persons— > > > > > (a) the licensee has made a request to the Secretary for the appointment of a manager, or > > > > > (b) the licensee’s licence has been cancelled or is under suspension, or > > > > > (c) the Secretary is of the opinion that there has been, or that there may have been, a failure to account by the licensee, or > > > > > (d) the Secretary is of the opinion that a person is unable to obtain payment or delivery of property held by the licensee because the licensee— > > > > > > > (i) is mentally or physically infirm, or > > > > > > > (ii) 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 > > > > > > > (iii) is an inmate within the meaning of the [Crimes (Administration of Sentences) Act 1999](/view/html/inforce/current/act-1999-093), or > > > > > > > (iv) has died, or > > > > > > > (v) has abandoned his or her business. > > > (2) In the case of a business that is conducted by 2 or more licensees in partnership, a reference in subsection (1) to a licensee is to be read as a reference to all of the licensees in the partnership. > > > (3) The terms of appointment of a manager must specify the remuneration to which the manager is to be entitled in connection with the management of the business for which the manager is appointed.