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AI Summary of 430. Information to be given when receiver is appointed in certain circumstance

Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 6 July 2022 - onwards
Version 3 of 3

430. Information to be given when receiver is appointed in certain circumstance

(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:

(i) the Registrar;

(ii) the court;

(iii) the company;

(iv) any trustees for the debenture holders on whose behalf he or she was appointed; and