33 Time from which appointment is effective
33 Time from which appointment is effective

(1)     The appointment of a person as a receiver or manager of a company's property under powers contained in an instrument—

(a)     is of no effect unless it is accepted by that person before the end of the business day next following that on which the instrument of appointment is received by him or on his behalf, and

(b)     subject to this, is deemed to be made at the time at which the instrument of appointment is so received.

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