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Amendment of section 436 of Principal Act
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25. Section 436 of the Principal Act is amended—
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(a) in subsection (1), by the substitution of “prescribed form specifying the information referred to in subsection (1A)” for “prescribed form”,
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(b) by the insertion of the following subsection after subsection (1):
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“(1A) The notice referred to in subsection (1) shall specify the following information:
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(a) the property of the company in respect of which the receiver is appointed;
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(b) the date of appointment of the receiver;
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(c) the nature of the appointment of the receiver in respect of the property concerned;
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(d) whether the company will continue to trade following the appointment of the receiver;
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(e) such further or other information as may be prescribed.”,
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and
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(c) in subsection (2), by the substitution of “within 7 days after the date on which he or she so ceases” for “on so ceasing”.
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