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(2) The High Court may appoint a receiver in respect of realisable property. (3) The High Court may empower a receiver appointed under subsection (2), under section 10 or in pursuance of a charging order—
(a) to enforce any charge imposed under section 11 on realisable property or on any interest, dividend or other distribution payable and any bonus issue in respect of such property; and
(b) in relation to any realisable property other than property for the time being subject to a charge under section 11, to take possession of the property subject to such conditions or exceptions as may be specified by the High Court.
(4) The High Court may order any person having possession of realisable property to give possession of it to any such receiver.
(5) The High Court may empower any such receiver to realise any realisable property in such manner as the High Court may direct.
(6) The High Court may order any person holding an interest in realisable property to make such payment to the receiver in respect of any beneficial interest held by the defendant or, as the case may be, the recipient of a gift caught by this Ordinance as the High Court may direct and the High Court may, on the payment being made, by order transfer, grant or extinguish any interest in the property.
(7) Subsections (4) to (6) do not apply to property for the time being subject to a charge under section 11.
(8) The High Court shall not in respect of any property exercise the powers conferred by subsection (3)(a), (5) or (6) unless a reasonable opportunity has been given for persons holding any interest in the property to make representations to the High Court.
Application of proceeds of realisation and other sums
13. (1) Subject to subsection (2), the following sums in the hands of a receiver appointed under section 10 or 12 or in pursuance of a charging order, that is-
(a) the proceeds of the enforcement of any charge imposed under section 11; (b) the proceeds of the realisation, other than by the enforcement of such a charge,
of any property under section 10 or 12; and
(c) any other sums, being property held by the defendant,
shall first be applied in payment of such expenses incurred by a person acting as an insolvency officer as are payable under section 18(2) and then shall, after such payments (if any) as the High Court may direct have been made out of those sums---
(i) be payable to the Registrar; and
(ii) be applied on the defendant's behalf towards the satisfaction of the confiscation
order in the manner provided by subsection (3).
(2) If, after the amount payable under the confiscation order has been fully paid, any such sums remain in the hands of such a receiver, the receiver shall distribute those
sums-
(a) among such of those who held property which has been realised under this
Ordinance; and
(b) in such proportions,
as the High Court may direct after giving a reasonable opportunity for such persons to make representations to the High Court.