| Commentary

55.1 Fixed charge receiver

| Commentary

55 Remedies without the aid of the court

55.1 Fixed charge receiver1

Every trust deed or debenture will normally contain the power to appoint a receiver (or receiver and manager) in relation to any property over which a fixed charge is taken with the power becoming exercisable as soon as the principal sums become payable under the conditions of the deed or debenture2. There should also be in the trust deed or debenture provisions to enable the sale of the mortgaged property by the receiver as agent for the company3. Even in the absence of

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