44 Agency and liability for contracts
44 Agency and liability for contracts

(1)     The administrative receiver of a company—

(a)     is deemed to be the company's agent, unless and until the company goes into liquidation;

(b)     is personally liable on any contract entered into by him in the carrying out of his functions (except in so far as the contract otherwise provides) and[, to the extent of any qualifying liability,] on any contract of employment adopted by him in the carrying out of those functions; and

(c)     is entitled in respect of that liability to an indemnity out of the assets of the company.