42 General powers.E+W+S
(1)The powers conferred on the administrative receiver of a company by the debentures by virtue of which he was appointed are deemed to include (except in so far as they are inconsistent with any of the provisions of those debentures) the powers specified in Schedule 1 to this Act.
(2)In the application of Schedule 1 to the administrative receiver of a company—
(a)the words “he” and “him” refer to the administrative receiver, and
(b)references to the property of the company are to the property of which he is or, but for the appointment of some other person as the receiver of part of the company’s property, would be the receiver or manager.
(3)A person dealing with the administrative receiver in good faith and for value is not concerned to inquire whether the receiver is acting within his powers.