Social Security Act 1973

3 (1) The relevant enactments relating to the remedies of debenture holders and chargees are the following—

(a) section 94 of the Companies Act 1948 ;

(b) section 19 of the [1972 c. 67.] Companies (Floating Charges and Receivers) (Scotland) Act 1972 ; and

(c) section 92 of the Companies Act (Northern Ireland) 1960.

(2) For the operation of these enactments, " the relevant event" in section 93(2) is to be construed as follows—

(a) where a receiver is appointed on behalf of debenture holders or by or on the application of the holders of a floating charge, it means that appointment; and

(b) where possession of any property is taken by or on behalf of debenture holders or the holders of a floating charge, it means that taking of possession.