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Paragraph 36 Receivers: supplementary provisions

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Where a receiver appointed under section 26 or 29 of this Act or in pursuance of a charging order—

(a)

takes any action in relation to property which is not realisable property, being action which he would be entitled to take if it were such property, and

(b)

believes, and has reasonable grounds for believing, that he is entitled to take that action in relation to that property,

he shall not be liable to any person in respect of any loss or damage resulting from his action except in so far as the loss or damage is caused by his negligence.

(2)

Any amount due in respect of the remuneration and expenses of a receiver so appointed shall, if no sum is available to be applied in payment of it under section 30(6) of this Act, be paid by the person on whose application the receiver was appointed.