HC Deb 18 July 1985 vol 83 c595

Amendments made:

No. 65, in page 37, line 24, leave out from beginning to 'for' in line 25 and insert— '52(1) Section 478 of the 1985 Act (vacation of appointment by receiver) shall be amended as follows. (2)'.

No. 66, in page 37, line 34, at end insert— '(3) For subsection (4) there shall be substituted the following subsection— (4) Where at any time a receiver vacates office—

  1. (a) his remuneration and any expenses properly incurred by him; and
  2. (b) indemnity to which he is entitled out of the property of the company, shall be paid out of the property of the company which is subject to the floating charge and shall have priority as provided for in section 476(1).".

(4) In subsection (5) for the words "7 days" there shall be substituted the words "14 days".'. [Mr. Fletcher]

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