Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 17 · Administration in Bankruptcy
379. Power to appoint special manager
Feedback & supportThe Official Assignee may, if satisfied that the nature of the bankrupt’s estate or business or the interests of the creditors generally require the appointment of a special manager of the estate or business other than the Official Assignee, appoint a manager of the estate or business to act, with such powers, including any of the powers of a receiver, as are entrusted to the manager by the Official Assignee.
Official Assignee
“Official Assignee” means the Official Assignee appointed under section 16(1) and includes a Deputy Official Assignee, a Senior Assistant Official Assignee and an Assistant Official Assignee;
The bankrupt may be appointed special manager.
bankrupt
“bankrupt” means —(a)an individual debtor who has been adjudged bankrupt by a bankruptcy order; or(b)where a bankruptcy order has been made against a firm, each of the partners in the firm;
A special manager must give such security and account in such manner as the Official Assignee may direct.
security
“security” means any mortgage, charge, pledge, lien or other security recognised by law;
The special manager is to receive such remuneration as the Official Assignee may determine.