Section 76: Notice of appointment of receiver
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
76. Notice of appointment of receiver
(1) Where the receiver takes possession of a financial institution, he shall
post on the premises of the financial institution a notice announcing its action under this Part and the time when such possession shall be deemed to
take effect which shall not be earlier than the posting of the notice.
(2) A copy of the notice shall be transmitted to the Bankruptcy Court.
(S. 76 came into operation on 1 June 2007.)
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Questions this section answers
- How is a bank's takeover by a receiver announced?