ACT 125

COMPANIES ACT 1965 (REVISED - 1973)

PART VIII - RECEIVERS AND MANAGERS

Section 183. Liability of receiver.

(1) Any receiver or other authorized person entering into possession of any assets of a company for the purpose of enforcing any charge shall, notwithstanding any agreement to the contrary, but without prejudice to his rights against the company or any other person, be liable for debts incurred by him in the course of the receivership or possession, for services rendered, goods purchased or property hired, leased, used or occupied. (2) Subsection (1) shall not be so construed as to constitute the person entitled to the charge a mortgagee in possession. Application for directions (3) A receiver or manager of the property of a company may apply to the Court for directions in relation to any matter arising in connection with the performance of his functions. (4) Where a receiver or manager has been appointed to enforce any charge for the benefit of holders of debentures of the company any such debenture holder may apply to the Court for directions in relation to any matter arising in connection with the performance of the functions of the receiver or manager.