155. Distribution of moneys

(1) Subject to Section 170 (Power to dispose of charged property), any moneys received by the receiver shall be applied in the following order of priority —
(a) in satisfaction of all costs and expenses incurred by any receiver and of all remuneration due to any receiver;
(b) in payment of any debts or claims secured by a security, having priority to the security by virtue of which the receiver was appointed;
(c) in payment of any debts or claims secured by the security by virtue of which the receiver was appointed; and
(d) in payment of the surplus (if any) to the Company or person who is otherwise entitled to the property.