343 Proceedings under sections 340, 341 or 342

(1) On the hearing of an application under section 340, 341 or 342, the
applicant may himself give evidence or call witnesses.
or 342

(2) Where under section 340, 341 or 342 the Court makes a declaration, it
may give such further directions as it thinks proper for giving effect
thereto; and in particular the Court may —

(a) provide for the liability of any person under the declaration to be
a charge on —

(i) any debt or obligation due from the company or cell to
him;

(ii) any mortgage, charge, pledge, lien or other security on
assets of the company or cell held by or vested in him;

(iii) any interest in any mortgage charge, hypothecation, lien
or other security on assets of the company or cell held by
or vested in him, or any person on his behalf, or any
person claiming as assignee from or through the person
liable or any person acting on his behalf; and

(b) make such further orders as may be necessary for enforcing any
charge imposed under this subsection.

(3) For the purposes of subsection (2)(a) „assignee“ —

(a) includes a person to whom or in whose favour, by the directions
of the person made liable, the debt, obligation, mortgage, charge,
pledge, lien or other security was created, issued or transferred or
the interest created, but

(b) does not include an assignee for valuable consideration (not
including consideration by way of marriage) given in good faith
and without notice of any of the matters on the ground of which
the declaration is made.


(4) Where the Court makes a declaration under section 340, 341 or 342 in
relation to a person who is a creditor of the company or cell of the
protected cell company (as the case may be), it may direct that the whole
or any part of any debt owed by the company or cell to that person and
any interest thereon shall rank in priority after all other debts owed by the
company or cell and after any interest on those debts.

(5) Sections 340, 341 or 342 have effect notwithstanding that the person
concerned may be criminally liable in respect of matters on the ground
of which the declaration under the section is to be made.