846
No. 3 of 1901.
Giving of security by; and salary of, receiver. O. 50, r. 16. [cf. No. 3 of 1932, s. 10 (3).]
Adjournment of order for receiver into chambers for giving of security. O. 50, r. 17.
Fixing of times for leaving and passing accounts and paying balances. O. 50, r. 18.
Leaving and passing account. O. 50, r. 20.
CODE OF CIVIL PROCEDURE.
589. Where an order is made directing a receiver to be appointed the person to be appointed shall, unless otherwise ordered, first give security, to be allowed by the court and taken before the Registrar, duly to account for what he shall receive as such receiver and to pay the same as the court may direct; and the person so to be appointed shall, unless otherwise ordered, be allowed a proper salary or allowance by way of fees or commissions or otherwise, as the court may think fit.
590. Where any judgment or order is pronounced or made in court appointing a person therein named to be receiver the court may adjourn to chambers the cause or matter then pending, in order that the person named as receiver may give security, as mentioned in section 589, and may thereupon direct such judgment or order to be drawn up.
591.-(1) When a receiver is appointed with a direction that he shall pass accounts the court shall fix the days upon which he shall, annually or at longer or shorter periods, leave and pass such accounts, and also the days upon which he shall pay the balances appearing due on the accounts so left, or such part thereof as may be certified as proper to be paid by him: Provided that the court may, on good cause shown, enlarge any such period.
(2) If any such receiver neglects to leave and pass his accounts and pay the balances thereof at the times so fixed or enlarged for that purpose as aforesaid, the court may from time to time, when his subsequent accounts are produced to be examined and passed, disallow the salary or allowance therein claimed by such receiver and may also, if it thinks fit, charge him with interest at the rate for the time being fixed by the court upon the balances so neglected to be paid by him during the time the same may appear to have remained in his hands.
592. (1) Every such receiver shall leave with the Registrar his account together with an affidavit verifying the same.
(2) An appointment shall thereupon be obtained by the plaintiff or the person having the conduct of the cause or matter for the purpose of passing such account.
* The rate of interest in practice is 8% per annum.