Section 59Part 2 — The Financial Reporting Authority
Management receivers: discharge
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Where —
a management receiver stands appointed under section 52 in respect of realisable property; and
the court appoints an enforcement receiver, the court shall order the management receiver to transfer to the other receive r all property held by the management receiver by virtue of the powers conferred on that receiver by section 52 .
Subsection (1) shall not apply to property which the management receiver holds by virtue of the exercise by that receiver of that receiver ’s power under section 52(2) (d).
Where the management receiver complies with an order under subsec tion (2) that person is discharged —
from that management receiver ’s appointment under section 52 ; and
from any obligation under this Act arising from that management receiver ’s appointment.
Where this section applies the court may make such consequential or incidental order as it believes is appropriate.