sec.40Way amounts collected by receiver are to be dealt with

### sec.40 Way amounts collected by receiver are to be dealt with A court-appointed receiver must pay all amounts collected as follows— firstly, in paying the costs and expenses of collecting the amounts and the receiver’s remuneration; secondly, subject to an order of the Supreme Court, in paying the person with whom the statutory body entered into the debenture, bond or inscribed stock and to other persons generally, in the order of priority as the court orders; thirdly, in paying the remainder to the statutory body. s 40 amd 1988 No. 55 s 14 ; 1989 No. 53 s 5 sub 1996 No. 54 s 8 - (a) firstly, in paying the costs and expenses of collecting the amounts and the receiver’s remuneration; - (b) secondly, subject to an order of the Supreme Court, in paying the person with whom the statutory body entered into the debenture, bond or inscribed stock and to other persons generally, in the order of priority as the court orders; - (c) thirdly, in paying the remainder to the statutory body.