Page 42 of Annex
A
(2)
(a)
(b)
property for the time being subject to a restraint
order made before the relevant time; and
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.
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
(3)
(a)
(b)
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
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.
Nothing in the Companies Ordinance (Cap. 32) shall be
taken as restricting, or enabling the restriction of, the exercise
of the powers conferred on the High Court by sections 10 to 13.
(4) Subsection (2) does not affect the enforcement of a
charging order made before the relevant time or on property which
was subject to a restraint order at the relevant time.
(5) In this section
"company" (A) means any company which may be wound up under the
Companies Ordinance (Cap. 32); and
"the relevant time" (N) means