If a person acting as an insolvency practitioner1 seizes or disposes of any property in relation to which his functions are not exercisable because it is for the time being subject to a restraint order2 and at the time of the seizure or disposal he believes on reasonable grounds that he is entitled (whether in pursuance of an order of a court or otherwise) to seize or dispose of the property:
(1) he is not liable to any person in respect of any loss or damage resulting from the seizure or disposal, except so far as the loss or
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