Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A receiver of property of a corporation that is being wound up may:
(a) with the written approval of the corporation's liquidator or with the approval of the Court, carry on the corporation's business either generally or as otherwise specified in the approval; and
(b) do whatever is necessarily incidental to carrying on that business under paragraph (a).
(2) Subsection (1) does not:
(a) affect a power that the receiver has otherwise than under that subsection; or
(b) empower the receiver to do an act that he or she would not have power to do if the corporation were not being wound up.
(3) A receiver of property of a corporation who carries on the corporation's business under subsection (1) does so:
(a) as agent for the corporation; and
(b) in his or her capacity as receiver of property of the corporation.
(4) The consequences of subsection (3) include, but are not limited to, the following:
(a) for the purposes of subsection 419(1), a debt that the receiver incurs in carrying on the business as mentioned in subsection (3) of this section is incurred in the course of the receivership;
(b) a debt or liability that the receiver incurs in so carrying on the business is not a cost, charge or expense of the winding up.