Section 138 — Trusts Act 2019: Court may appoint receiver for trust

138 Court may appoint receiver for trust (1) The court may, on an application by an interested person or on its own motion, appoint a receiver to administer a trust. (2) The court must be satisfied that the appointment of a receiver to administer the trust is— (a) reasonably necessary in the circumstances of the trust; and (b) just and equitable. (3) Only a person qualified to be a trustee may be appointed under subsection (1). (4) When appointing a receiver under this section, the court (having regard to the terms of the trust and the interests of justice) must determine— (a) the extent of the duties and powers of the receiver; and (b) the duration of the receivership; and (c) the principles that the receiver is to apply in determining priorities; and (d) whether the receiver is to be paid from the trust assets. (5) If a court determines under subsection (4) that a receiver has a power in relation to a trust, the trustee of the trust cannot exercise that power for the duration of the receivership.