Insolvency Act · 2022 Revised Edition · Part · Judicial Management
51. Undue preference in case of judicial management
Official textFrom Attorney General's Chambers, unchanged
Subject to this Act and such modifications as may be prescribed, a settlement, a conveyance or transfer of property, a charge on property, a payment made or an obligation incurred by a company which if it had been made or incurred by an individual would in the event of his becoming a bankrupt be void as against the Official Receiver under the Bankruptcy Act
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.
(Chapter 67) shall, in the event of the company being placed under judicial management, be void as against the judicial manager.
company
“company” means a company incorporated or registered under the Companies Act;
For the purposes of subsection (1), the date that corresponds with the date of the application for a bankruptcy order in the case of an individual and the date on which a person is adjudged bankrupt, is the date on which an application for a judicial management order is made.
Terms defined in s 3
company
Defined · s 3“company” means a company incorporated or registered under the Companies Act;
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
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
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