Paragraph 1

or Article 41 of the 1989 Order (receiver and manager: disqualification) substitute—

“Disqualification of bankrupt

41

(1)

A person shall be guilty of an offence if he acts as receiver or manager of the property of a company on behalf of debenture holders while—

(a)

he is an undischarged bankrupt, or

(b)

a bankruptcy restrictions order is in force in respect of him.

(2)

This Article does not apply to a receiver or manager acting under an appointment made by the High Court.”.