Section 6: Duty of receiver of floating charge and meaning of “floating charge”
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
6. Duty of receiver of floating charge and meaning of “floating charge”
(a) Any receiver of a floating charge shall distribute any proceeds held by
the receiver for the purposes of distribution in the receivership in accordance
with section 204 (2).
(b) In this Schedule—
“floating charge” includes a charge that conferred a floating security at the
time of its creation but has since become a fixed or specific charge.