Skip to content
Back to the text

Insolvency Act · s 42

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?

The text as we hold it

Open the official text

s 42Information to be given by and to judicial manager

(1)

Where a judicial management order has been made, the judicial manager shall —

(a)

immediately send to the Registrar a copy of the order;

(b)

immediately send to the company and publish a notice of the order in the Gazette and in a Malay and English local daily newspaper; and

(c)

within 28 days after the making of the order, unless the

Court otherwise directs, send such a notice to all creditors of the company (so far as he is aware of the addresses), and the Registrar shall enter the copy of the order in his records of the company.

Insolvency 56

(2)

A statement as to the affairs of the company shall be made out and submitted to the judicial manager in accordance with section 43

within 21 days after receipt by the company of the notice of the judicial management order. Any longer period allowed by the judicial manager shall not exceed 2 months.

(3)

A person who, without reasonable excuse, fails to comply with this section, is guilty of an offence and liable on conviction to a fine not exceeding $5,000, and, in the case of a continuing offence, with a further fine not exceeding $250 for every day or part thereof during which the offence continues after conviction.