208 SECRETARIAL PRACTICE 
receiver passing his accounts at intervals, generally, of six 
months. 
His duties are to take possession, to collect rents and 
debts, and generally to act as owner of the property charged. 
He may obtain the directions of the Court as to taking any 
contemplated step, and he should always do so where it is 
proposed to incur expenses, e.g. by borrowing money. As 
manager, when a favourable opportunity for a sale arises, and 
a sale is necessary in order to pay off the principal due on the 
debentures, he will invariably apply for the consent of the 
Court to the proposed sale, before attempting to carry it out. 
If a receiver or manager is appointed by the Court, or the 
debenture holders, any letters, etc., invoice, order for goods or 
business letters on which the name of the company appears, 
must contain a statement that a receiver or manager has been 
appointed [s. 308], and if the company is being wound up, 
that fact must also be stated on each such document [s. 280]. 
If (a) a receiver makes default for more than 14 days after 
written notice has been served on him to make good the default 
in filing, delivering or making any return, account or other 
document, or in giving any notice required by law, or (b) any 
receiver or manager appointed by the debenture holders or 
trustees for them fails, after demand by the liquidator therefor, 
to render proper accounts and pay the amount due to the 
liquidator, the Court may order the default to be made good 
and direct the costs of the application to be borne by the 
receiver [s. 3II].