Section 430(4)

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 powers referred to in subsection (5) must not be exercised in the way mentioned in subsection (6) in relation to any property— which is held by the company, and in relation to which the functions of the receiver are exercisable.

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