I move amendment No. 216:
In page 120, lines 29 and 30, to delete "shall not resign unless", and substitute "may resign, provided".
This amendment has been prepared following representations by the accountancy bodies who rightly say that there are no statutory provisions at present under which a receiver may resign. While it was the intention that section 152 of the Bill would achieve this objective, I am not certain that it has done so since it only provides that "a receiver shall not resign unless. . .in other words, it still does not seem to give the receiver the actual right to resign. The amendment would make this clear while preserving the other provisions in the section about notice and so on.