433. Circumstances in which floating charge attaches to property

the appointment of a receiver of the whole or any part of the property or undertaking of the company, whether under the terms of the instrument creating the floating charge or otherwise ;

the commencement of the winding up of the company ;

the disposal by the company of the whole or any part of its undertaking, other than in the normal course of its business ;

the company ceasing to carry on business ;

any other event the occurrence of which is expressed in the instrument creating the floating charge to have the effect of causing that charge to attach to the property comprised in it.

a floating charge has attached to any property of a company ; and

the company sells or otherwise disposes of any property to which the charge has attached, the person to whom the property is sold or otherwise disposed of, shall be liable to account to the person entitled to the benefit of the floating charge for the value of the property, if—

a receiver had been appointed in respect of the property and that person had notice of the appointment of the receiver ; or

that person knew or ought by reason of his relationship with the company to have known that —

the floating charge had attached to that property ;

the sale or disposal was a breach of the instrument creating the floating charge ; or

the sale or disposal did not occur in the normal course of the company’s business.

by or under the authority of a receiver appointed in respect of the property, by the person entitled to the benefit of the floating charge ;

pursuant to a floating charge or other security in respect of the property which ranks prior to the floating charge, to the benefit of which the person making the claim is entitled ; or

by the court.

the person knows or ought by reason of his relationship with the company to know, that a receiver has been appointed ; or

public notice of the appointment of the receiver has been given is accordance with paragraph (b) of subsection (1) of section 440.