• Manage the property under receivership by taking custody and control of all the property secured.
  • Register in his or her names all land and other assets under receivership.
  • Investigate the state of affairs of the property under receivership
  • Give general notice of his or her interest in all property
  • Keep all money relating to property in receivership
  • Retain the records of the company for not less than six years after receivership ends.

 

S.189 I.A-  Preliminary report:

  • Prepared within 40 working days of appointment.
  • Show the state of affairs of  the property under receivership, Proposals on how such properties shall be dealt with,
    the rights of any creditors and shareholders, estimated date of completion of the Receivership.


S. 1
90 I.A Other Reports:

  • Prepared within 20 days after the end of every 6 months and on termination of the Receivership.
  • Receiver should send copies to the grantor, all persons in whose interests the receiver is appointed,
    court where there is a court appointment and the Official Receiver within five working days after preparation.