118Notice to claim receivable property

#### 118 Notice to claim receivable property 118 Notice to claim receivable property > > (1) A receiver may give notice to— > > > > > (a) the relevant licensee or relevant associate, or > > > > > (b) any other person, > > > > that any claim the licensee, associate or other person has to receivable property must be submitted to the receiver within 1 month after the giving of the notice or within such longer period as is stated in the notice. > > > (2) A claim submitted in response to such a notice must state— > > > > > (a) full particulars of the property, and > > > > > (b) the grounds of the claim. > > > (3) A receiver may disregard a claim made by a licensee, a licensee’s associate or any other person who has been given a notice under this section if the claim is not made in accordance with the notice. > > > (4) The relevant licensee or relevant associate is not entitled— > > > > > (a) to enforce a claim to receivable property, or > > > > > (b) except against a client—to the benefit of a lien against a document that is receivable property, > > > > unless all other enforceable claims against the property have been satisfied and the expenses of the receivership paid.