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173. Concurrent proceedings

Past version: effective from 14/06/2015 - 13/06/2015
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(1) Subject to subsection (2), there may be a winding-up of a Company and a receiver appointed to the property of the Company at the same time.
(2) When a Company is being wound up —
(a) any agency of a receiver for the Company is terminated;
(b) the liquidator's powers with respect to the property of the Company excludes any property to which a receiver has been appointed for the period of the receiver's appointment; and
(c) the liquidator may exercise any of his powers under Part 3 (Winding-Up) notwithstanding the appointment of a receiver.