Section 430(2)

If a company holds property which is subject to a floating charge, and a receiver has been appointed by or on the application of the holder of the charge, the functions of the receiver are not exercisable in relation to the following property— property for the time being subject to a restraint order which was made under section 41, 120 or 190 before the relevant time; property for the time being detained under or by virtue of section 44A, 47J, 47K, 47M, 47P, 122A, 127J, 127K, 127M, 127P, 193A, 195J, 195K, 195M or 195P; property in respect of which an order under section 50, 128(3) or 198 is in force; property in respect of which an order under section 67A, 131A or 215A is in force.

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