381. Powers of receiver on liquidation

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

A receiver who holds office in respect of property referred to in subsection (1) may not act as the agent of the grantor except –

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

The liquidator shall not be liable in damages for declining to give consent under paragraph (a) of subsection (2).

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