Section 205: Powers of receiver on liquidation

205. Powers of receiver on liquidation (1) Subject to subsection (2), a receiver may continue to act as a receiver and exercise all the powers of a receiver in respect of property of a company that has been put into liquidation unless the Court orders otherwise. (2) After the commencement of the winding up of a company, a receiver may not be appointed in respect of the property of the company except under an order of the Court on such terms as the Court thinks appropriate. (3) A receiver holding office in respect of property referred to in subsections (1) and (2) may act as the agent of the chargor only— (a) with the written approval of the Court; or (b) with the written consent of the liquidator. (4) A debt or liability incurred by a chargor through the acts of a receiver who is acting as the agent of the chargor in accordance with subsection (2) is not a cost, charge or expense of liquidation.