Applications for receivership orders

(1) An application for a receivership order in respect of a cell of a protected cell company may be made by, (a) the protected cell company; (b) the directors of the protected cell company; 19 (c) any creditor who has a right of recourse against a cell of the protected cell company; (d) any holder of cell shares in respect of cells in the protected cell company; (e) the administrator of a cell of the protected cell company; or (f) the Registrar or Deputy Registrar. (2) The Court, on hearing an application, (a) for a receivership order; or (b) for leave, pursuant to section 17(5) of this Act, for a voluntary winding-up, may make an interim order or adjourn the hearing, conditionally or unconditionally. (3) Notice of an application to the Court for a receivership order in respect of a cell of a protected cell company shall be served upon, (a) the protected cell company; (b) the administrator (if any) of the cells of the (c) the Registrar or Deputy Registrar; and (d) such other persons (if any) as the Court may direct, who shall each be given an opportunity of making representations to the Court before the order is made. 20