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Co-Operative Societies Act 2008


154. Receiverís duty

1.     A receiver or receiver-manager appointed by a Court shall act in accordance with any directions of the Court.

2.     A receiver-manager appointed by the Registrar shall act in accordance with any directions of the Registrar.

3.     A receiver or receiver-manager appointed pursuant to an instrument shall act in accordance with that instrument and any directions that the Court may make pursuant to section 155.

4.     A receiver or receiver-manager shalló

a.     act honestly and in good faith; and

b.    deal with any property of the society in his possession or control in a commercially reasonable manner.



Co-Operative Societies Act 2008 Back




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