Section 228Part 14 — Segregated Portfolio Companies
Remuneration of receiver
←→ Navigate · Click subsection badges to collapse · Press ? for help
The remuneration of a receiver and any expenses properly incurred by that person shall be payable, in priority to all other claims, from the segregated portfolio assets attributable to the segregated portfolio in respect of which the receiver was appointed but not from any other assets of the segregated portfolio company. 228A. Termination and re - inst atement 228A .
Where a segregated portfolio has no segregated portfolio assets or liabilities of the segregated portfolio company attributable to it, the segregated portfolio company may by resolution of its directors (or such other authority as may be p rovided for in, and subject to the provisions of, its articles of association) terminate such segregated portfolio.
A segregated portfolio company may by resolution of its directors (or such other authority as may be provided for in, and subject to t he provisions of, its articles of association) reinstate a segregated portfolio which has been terminated under subsection (1). Part 15 – Prohibition on Bearer Shares