Article 46P Powers of receivers appointed under article 46OF1

Scotland

(1)

If the Court of Session appoints a receiver under article 46O (receivers in connection with interim freezing orders), the court may act under this article on the application of the Scottish Ministers.

(2)

The court may by order authorise or require the receiver—

(a)

to manage any property in respect of which the receiver is appointed;

(b)

to take any other steps the court thinks appropriate in connection with the management of any such property (including securing the detention, custody or preservation of the property in order to manage it).

(3)

Managing property includes—

(a)

selling or otherwise disposing of assets comprised in the property which are perishable or which ought to be disposed of before their value diminishes;

(b)

where the property comprises assets of a trade or business, carrying on, or arranging for another to carry on, the trade or business;

(c)

incurring capital expenditure in respect of the property.

(4)

The court may by order require any person in respect of whose property the receiver is appointed—

(a)

to bring the property to a place in Scotland specified by the receiver or to place it in the custody of the receiver (if in either case the person is able to do so);

(b)

to do anything the person is reasonably required to do by the receiver for the preservation of the property.

(5)

The court may by order require any person in respect of whose property the receiver is appointed to bring any documents relating to the property which are in the person’s possession or control to a place in Scotland specified by the receiver or to place them in the custody of the receiver.

(6)

In paragraph (5) “document” means anything in which information of any description is recorded.

(7)

Any prohibition on dealing with property imposed by an interim freezing order does not prevent a person from complying with any requirements imposed by virtue of this article.

(8)

Paragraph (9) applies in a case where—

(a)

the receiver deals with property that is not property in respect of which the receiver was appointed under article 46O, but

(b)

at the time of dealing with the property the receiver believed on reasonable grounds that they were entitled to do so by virtue of being appointed under article 46O.

(9)

The receiver is not liable to any person in respect of any loss or damage resulting from the receiver’s dealing with the property.

(10)

But paragraph (9) does not apply to the extent that the loss or damage is caused by the receiver’s negligence.

Annotations

Textual amendments

F1: Arts. 46I-46R inserted (12.11.2018) by The Proceeds of Crime Act 2002 (External Investigations and External Orders and Requests) (Amendment) Order 2018 (S.I. 2018/1078), arts. 1(2), 14