445. Power to make calls on shares

A receiver has the same powers as the board of a company has or if the company is being wound up, as the board would have had if it was not being wound up, to make calls on the shareholders of the company in respect of uncalled capital that is charged under the instrument by or under which the receiver was appointed, and to charge interest on and enforce payment of calls.

For the purposes of subsection (1), the expression

The making of a call or the exercise of a power under subsection (1) is, as between the shareholders of the company affected and the company, deemed to be a proper call or power made or exercised by the directors of the company.