430 Floating charges
Proceeds of Crime Act 2002 (2002 c 29) | Legislation

Floating charges

430  Floating charges

(1)     In this section “company” means a company which may be wound up under

(a)     the 1986 Act, or

(b)     the 1989 Order.

[(2)     If a company holds property which is subject to a floating charge, and a receiver has been appointed by or on the application of the holder of the charge, the functions of the receiver are not exercisable in relation to the following property—

(a)     property for the time being subject to a restraint order which was made under section 41, 120 or 190 before the relevant time;

(b)     property for the time being detained under or by virtue of section 44A, 47J, 47K, 47M,

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