Insolvency officers dealing with property subject to restraint order
18. (1) Without prejudice to the generality of any provision
contained in the Bankruptcy Ordinance (Cap. 6), the Companies
Ordinance (Cap. 32) or any other Ordinance, where -
(a)
any insolvency officer seizes or disposes of any property
in relation to which his functions are not exercisable
because it is for the time being subject to a restraint
order; and
(b)
at the time of the seizure or disposal he believes, and has
reasonable grounds for believing, that he is entitled
(whether in pursuance of an order of a court or otherwise)
to seize or dispose of that property,
he shall not be liable to any other person in respect of any loss or
damage resulting from the seizure or disposal except in so far as the
loss or damage is caused by his negligence; and the insolvency
officer shall have a lien on the property, or the proceeds of its
sale, for such of his expenses as were incurred in connection with
the liquidation, bankruptcy or other proceedings in relation to which
the seizure or disposal purported to take place and for so much of
his remuneration as may reasonably be assigned for his acting in
connection with those proceedings.
(2) Any insolvency officer who incurs expenses