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156. Duties of receiver

(1) A receiver shall —
(a) act in good faith in carrying out his functions;
(b) manage any property of the Company with due diligence; and
(c) when exercising a power of sale of property of the Company, use reasonable care to obtain the best price reasonably obtainable in the circumstances.
(2) A receiver is not obliged to act in accordance with subsection (1)(b) where to do so would prejudice the interests of the persons by whom or on whose behalf he was appointed.