58In section 53 of the [1986 c. 45.] Insolvency Act 1986—
(a)in subsection (1) for the words “a validly executed instrument in writing” there shall be substituted the words “an instrument subscribed in accordance with the Requirements of Writing (Scotland) Act 1995”;
(b)for subsection (4) there shall be substituted the following subsection—
“(4)If the receiver is to be appointed by the holders of a series of secured debentures, the instrument of appointment may be executed on behalf of the holders of the floating charge by any person authorised by resolution of the debenture-holders to execute the instrument.”.