248. Powers of management receivers.

If the court appoints a receiver1 it may act under the following provisions on the application of the person who applied for the restraint order2.

The court may by order confer on the receiver the following powers in relation to any realisable property to which the restraint order applies:

  1.  

    (1)     power to take possession of the property3;

  2.  

    (2)     power to manage or otherwise deal with4 the property5;

  3.  

    (3)     power to start, carry on or defend any legal proceedings in respect of the property6;

  4.  

    (4)     power to realise so much of the property as is necessary to meet the receiver's remuneration