Insolvency Act · 2022 Revised Edition · Part · Winding Up of Unregistered Companies
193. Winding up of unregistered companies
Official textFrom Attorney General's Chambers, unchanged
Subject to the provisions of this Part, any unregistered company may be wound up under this Act; and all the provisions of this Act on winding up apply to an unregistered company with the exceptions and additions mentioned in subsections (2), (3) and (4).
unregistered company
“unregistered company” includes any partnership, association and company except — (a) a company incorporated or registered under the Companies Act; or (b) a partnership, an association or a company which consists of less than 8 members and is not a foreign partnership, association or company.
An unregistered company shall not be wound up under this Part unless it has a principal place of business situated in Brunei Darussalam.
For the purposes of determining a Court’s winding up jurisdiction, an unregistered company is deemed to be registered in Brunei
Court
“Court”, in relation to a company, means a court having jurisdiction to wind up the company;
Darussalam if it has a principal place of business situated in Brunei
Darussalam.
Insolvency 154
insolvency
“insolvency”, in relation to a company, includes the approval of a voluntary arrangement or the appointment of a judicial manager;
The circumstances in which an unregistered company may be wound up are as follows —
if the company is dissolved, or has ceased to carry on business, or is carrying on business only for the purpose of winding up its affairs;
if the company is unable to pay its debts;
if the Court is of opinion that it is just and equitable that the company be wound up.
Terms defined in this Act
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;
unregistered company
Defined · s 192“unregistered company” includes any partnership, association and company except — (a) a company incorporated or registered under the Companies Act; or (b) a partnership, an association or a company which consists of less than 8 members and is not a foreign partnership, association or company.