(1) Where a receiver of the property of a company is appointed, the provisions of this Chapter shall, with the modification referred to in subsection (2) and any other necessary modifications, apply as if references in this Chapter to the liquidator and to winding up were references to the receiver and to receivership.

(2) The modification mentioned in subsection (1) is that in the definition of "director of an insolvent company" in section 818(1) the words "director or shadow director of an insolvent company at the date of, or within 12 months before, the appointment of a receiver to the property of the company" shall be substituted for the words "director or shadow director of an insolvent company at the date of, or within 12 months before, the date of the commencement of its winding up".