Companies Act 2014 section 435

Removal of receiver

Section 435 deals with the court's power to remove a receiver of a company's property and appoint a replacement, including the notice requirements that must be followed.

• The court may remove a receiver of a company's property and appoint a replacement, provided sufficient cause is shown.
• Notice of the removal proceedings must be served on both the receiver and the person who appointed them at least 7 days before the hearing date.
• Both the receiver and the person who appointed them have the right to appear and be heard at the proceedings.
• The provision ensures that no receiver can be removed without proper notice and an opportunity for relevant parties to present their case.