Insolvency Act · 2022 Revised Edition · Part 10
232. Duties of Executive Manager
Official textFrom Attorney General's Chambers, unchanged
The Executive Manager shall —
Executive Manager
“Executive Manager” means a person appointed as such under section 230(1);
take into his custody or under his control, the property
(wherever situate) to which the company is or appears to be entitled;
investigate the affairs, business and property of the company;
as soon as practicable, report to the Minister the results of his investigation in such manner as the Minister may direct;
Insolvency
as soon as practicable, formulate and present to the Minister his proposals for the future conduct of the affairs, business and property of the company; and
manage the affairs, business and property of the company.
The proposals of the Executive Manager may include (without prejudice to the generality of the foregoing) proposals for —
the removal of the Executive Manager and the return of the company to the control of the directors;
the appointment of a judicial manager;
the winding up of the company.
Terms defined in s 3
company
Defined · s 3“company” means a company incorporated or registered under the Companies Act;
Executive Manager
Defined · s 3“Executive Manager” means a person appointed as such under section 230(1);
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.