AI Summary of 430. Information to be given when receiver is appointed in certain circumstance
430. Information to be given when receiver is appointed in certain circumstance
Amendments (requiring commencement) by s. 24 of the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024 (No. 44), published 12 November 2024.
(1) Where a receiver of the whole, or substantially the whole, of the property of a company (referred to subsequently in this section and sections 431 and 432 as the "receiver") is appointed on behalf of the holders of any debentures of the company secured by a floating charge, then subject to the provisions of this section and section 431 -
(a) the receiver shall forthwith send notice to the company of his or her appointment,
(b) there shall, within 14 days after the date of receipt of the notice, or such longer period as may be allowed by the court or by the receiver, be made out and submitted to the receiver in accordance with section 431 a statement in the prescribed form as to the affairs of the company, and
(c) the receiver shall, within 2 months after the date of receipt of that statement, send to:
(iv) any trustees for the debenture holders on whose behalf he or she was appointed; and