This is the original version (as it was originally enacted).
If a receiver appointed under section 48, 50 or 52—
(a)takes action in relation to property which is not realisable property,
(b)would be entitled to take the action if it were realisable property, and
(c)believes on reasonable grounds that he is entitled to take the action,
he is not liable to any person in respect of any loss or damage resulting from the action, except so far as the loss or damage is caused by his negligence.
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