Section 55(3)

Subsections (1) and (2) apply— subject to the rights of any person who has effectually executed diligence on all or any part of the property of the company prior to the appointment of the receiver, and subject to the rights of any person who holds over all or any part of the property of the company a fixed security or floating charge having priority, over, or ranking pari passu with, the floating charge by virtue of which the receiver was appointed.

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