Commonwealth Consolidated Acts

INSURANCE ACT 1973 - SECT 62Y

  (1)   The judicial manager of a general insurer has the following powers:

  (a)   to bring or defend any legal proceedings in the name and on behalf of the general insurer;

  (b)   to appoint a legal practitioner to help him or her in the performance of his or her duties;

  (c)   to appoint an actuary (other than the actuary appointed for the purposes of section   39) to help him or her in the performance of his or her duties;

  (d)   to sell or otherwise dispose of all or any of the property of the general insurer;

  (e)   to do all acts and execute in the name and on behalf of the general insurer all deeds, receipts and other documents;

  (f)   for the purpose of paragraph   (d), to use the general insurer's common or official seal;

  (g)   subject to the Bankruptcy Act 1966 , to prove in the bankruptcy of any debtor of the general insurer or under any deed executed under that Act;

  (h)   to draw, accept, make and endorse any bill of exchange or promissory note in the name and on behalf of the general insurer;

  (i)   to obtain credit, whether on the security of the general insurer or otherwise;

  (j)   to take out letters of administration of the estate of a deceased debtor, and to do anything necessary for obtaining payment of any money due from a debtor, or his or her estate, that cannot conveniently be done in the name of the general insurer;

  (k)   to appoint an agent to do anything that it is not practicable for the judicial manager to do personally or that it is unreasonable to expect him or her to do personally;

  (l)   such other powers as the Federal Court directs.

  (2)   The powers conferred by this section are in addition to powers conferred on a judicial manager by any other provision of this Part.