463. Powers of receiver on liquidation

Subject to the provisions of subsection (2), a receiver may be appointed or continue to act as a receiver and exercise all the powers of a receiver in respect of property of a company that is being wound up, unless the court orders otherwise.

A receiver holding office in respect of property referred to in subsection (1) may act as the agent of the grantor, only with the approval of the court or with the written consent of the liquidator.

A receiver who by reason of subsection (2) is not able to act as the agent of the grantor, does not by reason only of that fact, become the agent of a person by whom or in whose interests the receiver was appointed.

A debt or liability incurred by a grantor through the acts of a receiver who is acting as the agent of the grantor in accordance with subsection (2), is not a cost, charge or expense of the liquidation.