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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 320

Official Assignee as receiver.

320.(1) A receiver or manager of the property of a company appointed under the
powers contained in any instrument may apply to the court for directions in
relation to any particular matter arising in connection with the performance
of his functions, and on any such application the court may give such
directions, or may make such order declaring the rights of persons before
the court or otherwise, as the court thinks just.

(2) A receiver or manager of the property of a company appointed as aforesaid
shall, to the same extent as if he had been appointed by order of a court, be
personally liable on any contract entered into by him in the performance of
his functions, except in so far as the contract otherwise provides, and
entitled in respect of that liability to indemnity out of the assets; but
nothing in this sub-section shall be taken as limiting any right to indemnity
which he would have apart from this sub-section, or as limiting his liability
on contracts entered into without authority or as conferring any right to
indemnity in respect of that liability.

(3) This section shall apply whether the receiver or manager was appointed
before or after the commencement of this Act but sub-section (2) shall not
apply to contracts entered into before the commencement of this Act.

© 1960 Crown Copyright

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