(introduced by section 13(7))
1To take possession of, collect and ingather the property of the factory estate.
2On behalf of the factory estate—
(a)to bring or defend any action,
(b)to make any application to the court, or
(c)to engage in any other legal proceedings.
3To carry out works.
4To grant any deed necessary for carrying into effect a function vested in the judicial factor.
5To carry on—
(a)the business (if any) of the factory estate, or
(b)any part of that business.
6To enter into, or take over, a contract.
7To pay a debt due by the estate without requiring the creditor to constitute the debt, provided that the judicial factor is satisfied that the debt is a proper debt of the factory estate.
8To employ, or dismiss from employment, any person.
9To appoint an agent to carry out business which the judicial factor does not have the competence to carry out.
10To remunerate any person appointed under paragraph 9.
11To sell the factory estate, or any part of the factory estate.
12To grant, vary, or accept the surrender of a lease or tenancy of any duration of the heritable factory estate or of any part of the heritable factory estate.
13To remove a tenant.
14To take a lease or tenancy of any duration of any property if it is a lease or tenancy required for the business of the factory estate.
15To make any kind of investment of the factory estate, including an investment in heritable property.
16To appoint a person as the judicial factor’s nominee, to exercise the judicial factor’s function of investment under paragraph 15.
17To authorise an agent to exercise any of the judicial factor’s investment management functions at the agent’s discretion.
18To exchange any part of the heritable factory estate for heritable estate of a like, or greater, value.
19To acquire property (whether heritable or moveable).
20To borrow money on the security of the factory estate or of any part of the factory estate.
21On behalf of the factory estate, to draw, accept, make or endorse any bill of exchange or promissory note.
22To refer to arbitration a question affecting the factory estate.
23To formulate and propose a scheme for division of the factory estate.
24To apply to the court for—
(a)authority to act at variance with the purposes of the judicial factory,
(b)a variation of the judicial factor’s functions.
25In respect of any securities of a company which are comprised in the factory estate, to concur, as if the judicial factor was entitled to the securities beneficially, in any scheme or arrangement for—
(a)the reconstruction of the company,
(b)the sale of the property and undertaking of the company, or any part of that property and undertaking, to another company,
(c)the acquisition of the securities of the company, or of control of those securities, by another company,
(d)the amalgamation of the company with another company, or
(e)the release, modification or variation of any rights, privileges or liabilities attached to the securities or any of the securities.
26To accept any securities of the reconstructed, purchasing or new company in lieu of, or in exchange for, all or any of the original securities.
27To retain any such securities for any period which the judicial factor could properly have retained the original securities.
28To such extent as the judicial factor considers appropriate—
(a)to exercise any conditional or preferential right to subscribe for any securities in a company,
(b)to apply capital of the factory estate in payment of the consideration for such subscription,
(c)to retain the securities for any period for which the judicial factor has power to retain the holding in respect of which the right to subscribe was offered (but subject to any conditions subject to which the judicial factor has that power),
(d)to renounce any such conditional or preferential right, or
(e)to assign to any person (including any person with an interest in the factory estate), for the best consideration that reasonably can be obtained the benefit of, or title to, any such conditional or preferential right.