Acts and Regulations

B-9.1 - Business Corporations Act

Full text
Duties of receiver and receiver-manager
59A receiver or receiver-manager shall
(a) without delay notify the Director of their appointment or discharge, who shall without delay cause to be published in The Royal Gazette notice of their appointment or discharge,
(b) without delay after their appointment, and from time to time after that, file with the Director a notice designating an office in New Brunswick where accounts of their administration are maintained;
(c) take into their custody and control the property of the corporation in accordance with the Court order or instrument under which they are appointed;
(d) open and maintain a bank account in their name as receiver or receiver-manager of the corporation for the money of the corporation coming under their control;
(e) keep detailed accounts of all transactions carried out as receiver or receiver-manager,
(f) keep accounts of their administration that shall be available at the office designated in paragraph (b) during usual business hours for inspection by the directors, shareholders and creditors who shall have the right to make extracts from the accounts,
(g) prepare at least once in every six month period after the date of their appointment financial statements of their administration, and
(h) on completion of their duties,
(i) render a final account of their administration
(ii) send a copy of the final report to each director of the corporation, and
(iii) retain a copy of the final report for a six-year period or any other shorter period ordered by the Court and provide access in accordance with paragraph (f).
2023, c.2, s.41
Duties of receiver and receiver-manager
59A receiver or receiver-manager shall
(a) immediately notify the Director of his appointment or discharge who shall forthwith cause to be published in The Royal Gazette notice of such appointment or discharge;
(b) forthwith after his appointment and from time to time thereafter file with the Director a notice designating an office in New Brunswick where accounts of his administration shall be maintained;
(c) take into his custody and control the property of the corporation in accordance with the Court order or instrument under which he is appointed;
(d) open and maintain a bank account in his name as receiver or receiver-manager of the corporation for the money of the corporation coming under his control;
(e) keep detailed accounts of all transactions carried out by him as receiver or receiver-manager;
(f) keep accounts of his administration that shall be available at the office designated in paragraph (b) during usual business hours for inspection by the directors, and the directors shall have the right to make extracts therefrom;
(g) prepare at least once in every six-month period, after the date of his appointment, a financial account of his administration and, subject to any order of the Court, file a copy of it with the Director within sixty days after the end of each six month period; and
(h) upon completion of his duties,
(i) render a final account of his administration,
(ii) send a copy of the final report to the Director who shall file it, and
(iii) send a copy of the final report to each director of the corporation.
Duties of receiver and receiver-manager
59A receiver or receiver-manager shall
(a) immediately notify the Director of his appointment or discharge who shall forthwith cause to be published in The Royal Gazette notice of such appointment or discharge;
(b) forthwith after his appointment and from time to time thereafter file with the Director a notice designating an office in New Brunswick where accounts of his administration shall be maintained;
(c) take into his custody and control the property of the corporation in accordance with the Court order or instrument under which he is appointed;
(d) open and maintain a bank account in his name as receiver or receiver-manager of the corporation for the money of the corporation coming under his control;
(e) keep detailed accounts of all transactions carried out by him as receiver or receiver-manager;
(f) keep accounts of his administration that shall be available at the office designated in paragraph (b) during usual business hours for inspection by the directors, and the directors shall have the right to make extracts therefrom;
(g) prepare at least once in every six-month period, after the date of his appointment, a financial account of his administration and, subject to any order of the Court, file a copy of it with the Director within sixty days after the end of each six month period; and
(h) upon completion of his duties,
(i) render a final account of his administration,
(ii) send a copy of the final report to the Director who shall file it, and
(iii) send a copy of the final report to each director of the corporation.