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COMPANIES CLAUSES CONSOLIDATION ACT 1845 - SECT 54

Appointment of receiver.

54. Every application for a receiver in the cases aforesaid shall be made to
two justices, and on any such application it shall be lawful for such
justices, by order in writing, after hearing the parties, to appoint some
person to receive the whole or a competent part of the tolls or sums liable to
the payment of such interest, or such principal and interest, as the case may
be, until such interest, or until such principal and interest, as the case may
be, together with all costs, including the charges of receiving the tolls or
sums aforesaid, be fully paid; and upon such appointment being made all such
tolls and sums of money as aforesaid shall be paid to and received by the
person so to be appointed; and the money so to be received shall be so much
money received by or to the use of the party to whom such interest, or such
principal and interest, as the case may be, shall be then due, and on whose
behalf such receiver shall have been appointed; and after such interest and
costs, or such principal, interest, and costs, have been so received, the
power of such receiver shall cease.

© 1845 Crown Copyright

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