(1) Under the conditions of section 46, the court appoints, on the Federal Institute's application, one or two persons as receiver. The Federal Institute makes an application under the first sentence where this appears necessary for the proper administration of the items entered in the refinancing register. Jurisdiction for all judicial decisions concerning the appointment and legal position of the receiver is determined under sections 2 and 3 of the Insolvency Code. The decisions are made by order. Sections 4, 5(1) and (3), and section 6(1), second sentence, and (2) and (3), of the Insolvency Code apply correspondingly to the proceedings. The Federal Institute, the receiver, and the refinancing undertaking have the right of immediate appeal against decisions of the court.
(2) Sections 22l to 22n apply to the appointment, removal, and legal position of a receiver appointed in these circumstances. Good cause within the meaning of section 22l(2), third sentence, exists in particular where the conditions of section 46 have again ceased to apply. In this case the Federal Institute should appoint the administrator from among the receivers or, in the case of section 22l(2), second sentence, first alternative, from among other suitable persons.
(3) Where insolvency proceedings are opened over the assets of the refinancing undertaking after the receiver has been appointed in accordance with subsections (1) and (2), the receiver is deemed, for the period after the opening of the insolvency proceedings, to have been appointed by the insolvency court on the opening of the insolvency proceedings.
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Customer rights