Insolvency Act · 2022 Revised Edition · Part 3
31. Enforcement of duty of receiver or manager to make returns
Official textFrom Attorney General's Chambers, unchanged
If any receiver or manager of the property of a company or of the property in Brunei Darussalam of any other corporation who has made default in making or lodging any return, account or other document or in giving any notice required by law, fails to make good the default within 14 days after the service on him by any member or creditor of the company or such other corporation or trustee for debenture holders of a notice requiring him to do so, the Court may, on an application made for that purpose by the person who has given the notice, make an order directing him to make good the default within such time as is specified in the order.
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.
If it appears that any receiver or manager of the property of a company or such other corporation has misapplied or retained or become liable or accountable for any money or property of the company or such other corporation or been guilty of any misfeasance or breach of trust or duty in relation to the company or such other corporation, the Court may on the application of any creditor or contributory or of the liquidator examine into the conduct of such receiver or manager and compel him to —
company
“company” means a company incorporated or registered under the Companies Act;
repay or restore the money or property or any part thereof with interest at such rate as the Court thinks just; or
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contribute such sum to the assets of the company or such other corporation by way of compensation in respect of the misapplication, retainer, misfeasance or breach of trust or duty as the
Court thinks just.
This section shall have effect notwithstanding that the offence is one for which the offender is criminally liable.
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;
document
Defined · s 3“document” includes summons, notice, order and other legal process, and registers;
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