Insolvency Act · 2022 Revised Edition · Chapter VI
108. Consequences of winding up order
Official textFrom Attorney General's Chambers, unchanged
On the making of a winding up order, a copy of the order must forthwith be forwarded by the company (or otherwise as may be prescribed)
company
“company” means a company incorporated or registered under the Companies Act;
to the Registrar, who shall enter it in his records relating to the company.
When a winding up order has been made or a provisional liquidator has been appointed, no action or proceeding shall be proceeded with or commenced against the company or its property, except by leave of the Court and subject to such conditions as the Court may impose.
property
“property”, in relation to a company, includes money, goods, things in action and every description of property, whether real or personal, and whether in Brunei Darussalam or elsewhere, and also obligations and every description of interest whether present or future or vested or contingent arising out of, or incidental to, property.
When an order has been made for winding up a company registered but not incorporated under the Companies Act (Chapter 39), no action or proceeding shall be commenced or proceeded with against the company or its property or any contributory of the company, in respect of
Insolvency 94
insolvency
“insolvency”, in relation to a company, includes the approval of a voluntary arrangement or the appointment of a judicial manager;
any debt of the company, except by leave of the Court, and subject to such conditions as the Court may impose.
Court
“Court”, in relation to a company, means a court having jurisdiction to wind up the company;
An order for winding up a company operates in favour of all the creditors and all contributories of the company as if made on the joint petition of a creditor and of a contributory.
Investigation procedures
Terms defined in s 3
company
Defined · s 3“company” means a company incorporated or registered under the Companies Act;
Court
Defined · s 3“Court”, in relation to a company, means a court having jurisdiction to wind up the company;
insolvency
Defined · s 3“insolvency”, in relation to a company, includes the approval of a voluntary arrangement or the appointment of a judicial manager;
property
Defined · s 3“property”, in relation to a company, includes money, goods, things in action and every description of property, whether real or personal, and whether in Brunei Darussalam or elsewhere, and also obligations and every description of interest whether present or future or vested or contingent arising out of, or incidental to, property.
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Chapter X
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