707. Prohibition on acting as receiver or manager.

707.     Prohibition on acting as receiver or manager.

A person commits an offence if he acts as receiver or manager1 of the property of a company on behalf of debenture holders while: (1) he is an undischarged bankrupt; (2) a moratorium period under a debt relief order applies in relation to him2; or (3) a bankruptcy restrictions order3 or a debt relief restrictions order4 is in force in respect of him5. A person guilty of such an offence is liable to imprisonment, a fine or both6.