222. Powers of interim receiver.

An interim receiver1 is the receiver and the manager of the debtor's property2 and is under a duty to act as such3.

The function of an interim receiver while acting as receiver or manager of the debtor's property is to protect the property; and for this purpose he has the same powers as if he were a receiver or manager appointed by the High Court, and he is entitled to sell or otherwise dispose of any perishable goods comprised in the property and any other goods so comprised the value of which is likely to diminish if they are not