Clause 182
Disqualification for appointment as receiver
(1)
The following shall not be qualified to be appointed and shall not act as receiver of the property of a company —
a corporation;
an undischarged bankrupt;
a mortgagee of any property of the company, an auditor of the company or an officer of the company or of any corporation which is a mortgagee of the property of the company;
any person who is neither an approved liquidator nor the Official Receiver.[U.K.ss. 366, 367.][Aust. s. 187.]
(2)
Nothing in paragraph (a) or (d) of subsection (1) of this section shall apply to any corporation authorized by any written law to act as receiver of the property of a company.
(3)
Nothing in this section shall disqualify a person from acting as receiver of the property of a company if acting under an appointment validly made before the date of the coming into operation of this Act.