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Section 57 – The Provincial Insolvency Act,1920

The Provincial Insolvency Act,1920

Section 57. Power to appoint Official Receivers

(1) The State Government may appoint such persons as it thinks fit (to be called “Official Receivers” ) to be receivers under this Act within such local limits as it may prescribe.

(2) Where any Official Receiver has been so appointed for the local limits of the jurisdiction of any Court having jurisdiction under this Act, he shall be the receiver for the purpose of every order appointing a receiver or an interim receiver issued by any such Court, unless the Court for special reasons otherwise, directs.

(3) Any sum payable under clause (b) of subsection (2) of Section 56 in respect of the services of an Official Receiver shall be credited to such fund as the State Government may direct.

(4) Every Official Receiver shall receive such remuneration out of the Said fund or otherwise as the State Government may fix in this behalf, and no remuneration whatever beyond that so fixed shall be received by the Official Receiver as such.

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The Provincial Insolvency Act,1920

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