Section 11(4)

Where at any time an administrative receiver of the company has vacated office under subsection (1)(b), or a receiver of part of the company’s property has vacated office under subsection (2)— his remuneration and any expenses properly incurred by him, and any indemnity to which he is entitled out of the assets of the company. shall be charged on and (subject to subsection (3) above) paid out of any property of the company which was in his custody or under his control at that time in priority to any security held by the person by or on whose behalf he was appointed.

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Source: legislation.gov.uk · retrieved 2026-09-04