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Resignation of receiver.
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177.—The Principal Act is hereby amended by the insertion after section 322 of the following section—
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“322C.—(1) A receiver of the property of a company appointed under the powers contained in any instrument may resign, provided he has given one month's notice thereof to—
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(a) the holders of floating charges over all or any part of the property of the company;
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(b) the company or its liquidator; and
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(c) the holders of any fixed charge over all or any part of the property of the company.
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(2) A receiver appointed by the court may resign only with the authority of the court and on such terms and conditions, if any, as may be laid down by the court.
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(3) If any person makes default in complying with the requirements of this section, he shall be liable to a fine not exceeding £1,000.”.
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