Section 26: Functions of receiver
consolidated text (as at 2013, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
26. Functions of receiver
(1) The receiver of a cell—
(a) may do all such things as may be necessary for the purposes set
out in section 25 (2); and
(b) shall have all the functions and powers of the directors in respect
of the business and cellular assets of, or attributable to, the cell.
(2) A receiver may, at any time, apply to the Court for—
(a) directions as to the extent or exercise of any function or power;
(b) the receivership order to be discharged or varied; or
(c) an order as to any matter arising in the course of his receivership.
[Issue 1] P42 – 16
Revised Laws of Mauritius
(3) In exercising his functions and powers, the receiver shall be deemed
to act as the agent of the protected cell company, and shall not incur personal liability except to the extent that he is fraudulent, reckless or grossly
negligent, or acts in bad faith.
(4) Any person dealing with the receiver in good faith shall not be required to enquire whether the receiver is acting within his powers.
(5) Where an application has been made for, and during the period of operation of, a receivership order—
(a) no proceedings may be instituted or continued by or against the
protected cell company in relation to the cell in respect of which
the receivership order was made; and
(b) no steps may be taken to enforce any security or in execution of
legal process in respect of the business or cellular assets of, or
attributable to, the cell in respect of which the receivership order
was made,
without the leave of the Court.
(6) During the period of operation of a receivership order—
(a) the functions and powers of the directors shall cease in respect
of the business and cellular assets of, or attributable to, the cell
in respect of which the order was made; and
(b) the receiver of the cell shall be deemed a director of the protected cell company in respect of the non-cellular assets of the
company, unless there are no creditors in respect of that cell entitled to have recourse to the company’s non-cellular assets.