Section 265 - Absence of defence or immunity

Despite a provision of any enactment, rule of law or any provision contained in the deed or agreement by or under which a receiver is appointed

(a) it is not a defence to proceedings against a receiver for a breach of duty in connection with the sale of property that, the receiver was acting as an agent of the company or under a power of attorney from the company; and

(b) a receiver is not entitled to compensation or indemnity from the property in receivership or the company in respect of any liability incurred by the receiver arising from a breach of the duty in connection with the sale of property.