To some extent, this is a new section. It replaces Section 95 of the 1908 Act. Section 319 applies only where a receiver is appointed on behalf of the holders of debentures secured by a floating charge on the whole, or substantially the whole, of the company's property. This covers all other cases.
SECTION 321.
Question proposed : " That Section 321 stand part of the Bill."
Question put and agreed to.