Insolvency Act · 2022 Revised Edition · Part 3
20. Disqualification for appointment as receiver
Official textFrom Attorney General's Chambers, unchanged
The following shall not be qualified to be appointed and shall not act as receiver of the property of a company —
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.
a corporation;
an undischarged bankrupt;
a mortgagee of any property of the company, or an auditor of the company or a director, secretary or employee of the company
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or of any corporation which is a mortgagee of the property of the company; and
any person who is neither an approved liquidator nor the
Official Receiver.
Nothing in subsection (1)(a) or (d) shall apply to any corporation authorised by any written law to act as receiver of the property of a company.
Terms defined in s 3
company
Defined · s 3“company” means a company incorporated or registered under the Companies Act;
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.
Part
Judicial Management
Part
Winding Up of Companies Registered Under Companies Act
Chapter I
Chapter II
Chapter III
Chapter IV
Chapter V
Chapter VI
Chapter VII
Chapter VIII
Chapter IX
Chapter X
Part