chapter  9
ADVISING PARTIES INVOLVED IN A RECEIVERSHIP
Advising the various parties
WithBill Holohan
Pages 24

As to whether the nominee is eligible, see ss 314 and 315 CA 1963 (as amended). Section 314 provides that certain persons be excluded from eligibility. Section 315 (as amended by s 170 of the 1990 (No 2) Act) provides that none of the following qualify for appointment as receiver of the property of a company: (a) a body corporate is not qualified for appointment as receiver of the property of the

company; (b) an undischarged bankrupt (which by virtue of the Company Law Enforcement

Act 2001 is now defined to include bankrupts under the law of the State and other jurisdictions);

(c) a person who is or within 12 months prior to the commencement of the receivership has been a officer or servant of the company;

(d) a parent, spouse, brother, sister or child of an officer of the company; (e) a person who is a partner of or in employment of an officer or servant of the

company; (f) a person who is not qualified by virtue of the subsection for appointment as receiver

of the property of any other body corporate which is that company’s subsidiary or holding company or a subsidiary of that company’s holding company or would be so disqualified if the body corporate were a company.