Companies Act 2014 section 824

Application of this Chapter to receivers

Section 824 extends the restrictions on directors of insolvent companies to situations where a receiver is appointed, rather than a liquidator, by adapting the relevant definitions and references accordingly.

• When a receiver is appointed over a company's property, the rules in this Chapter on restricting directors of insolvent companies apply to the receivership, not just to liquidation scenarios.
• All references to "liquidator" and "winding up" throughout the Chapter are read as references to "receiver" and "receivership" respectively.
• The definition of "director of an insolvent company" is adjusted so that the relevant time period is measured by reference to the date of the receiver's appointment, rather than the date winding up commenced.
• A person who was a director or shadow director of the insolvent company at the date of, or within 12 months before, the appointment of the receiver is caught by these restriction provisions.

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