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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 322

Notification that receiver or manager appointed.

322.(1) The court may, on an application made to the court by the liquidator
of a company, by order fix the amount to be paid by way of remuneration to any
person who, under the powers contained in any instrument, has been appointed
as receiver or manager of the property of the company.

(2) Subject to sub-section (3), the power of the court under sub-section (1)
shall, where no previous order has been made with respect thereto under that
sub-section

(a)extend to fixing the remuneration for any period before the making of the
order or the application therefor; and

(b)be exercisable notwithstanding that the receiver or manager has died or
ceased to act before the making of the order or the application therefor; and

(c)where the receiver or manager has been paid or has retained for his
remuneration for any period before the making of the order any amount in
excess of that so fixed for that period, extend to requiring him or his
personal representatives to account for the excess or such part thereof as may
be specified in the order.

(3) The power conferred by paragraph (c) of sub-section (2) shall not be
exercised as respects any period before the making of the application for the
order unless in the opinion of the court there are special circumstances
making it proper for the power to be so exercised.

(4) The court may from time to time on an application made either by
the liquidator or by the receiver or manager, vary or amend an order made
under sub-section (1).

(5) This section shall apply whether the receiver or manager was appointed
before or after the commencement of this Act, and to periods before, as well
as to periods after, the commencement of this Act.

© 1960 Crown Copyright

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