Article 2.20 Receiver to deal with prescribed part

(1)

Where a receiver is appointed over the whole or any part of the property of a company and section 176A(2) M1 applies, the receiver must deliver to any administrator or liquidator the sums representing the prescribed part.

(2)

If there is no administrator or liquidator the receiver must—

(a)

apply to the court for directions as to the manner in which to discharge the duty under section 176A(2)(a); and

(b)

act in accordance with any directions given.

Annotations

Marginal citations

M1: Section 176A was inserted by the Enterprise Act 2002 (c.40), section 252.