(a)
property for the time being subject to a restraint order
made before the relevant time; and
(b)
any proceeds of property realised by virtue of section
10(7) or 12 (5) or (6) for the time being in the hands of a
receiver appointed under section 10 or 12,
but there shall be payable out of such property any expenses
(including the remuneration of the liquidator or provisional
liquidator) properly incurred in the winding up in respect of the
property.
(2) Where, in the case of a company, such an order has been
made or such a resolution has been passed, the powers conferred on
the High Court by sections 10 to 13 shall not be exercised in
relation to any realisable property held by the company in relation
to which the functions of the liquidator are exercisable
(a)
so as to inhibit him from exercising those functions for
the purpose of distributing any property held by the
company to the company's creditors; or
(b)
so as to prevent the payment out of any property of
expenses (including the remuneration of the liquidator or
any provisional liquidator) properly incurred in the
winding up in respect of the property.