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COMPANIES ACT 1963 - SECT 315 Disqualification of undischarged bankrupt from acting as receiver.

315.—(1) If any person being an undischarged bankrupt acts as receiver of the property of a company on behalf of debenture holders, he shall, subject to subsection (2), be liable on conviction on indictment to imprisonment for a term not exceeding 2 years, or on summary conviction to imprisonment for a term not exceeding 6 mouths or to a fine not exceeding £100 or to both.

(2) Subsection (1) shall not apply to a receiver where the appointment under which he acts and the bankruptcy were both before the operative date.