Singapore legislation

Clause 386

of Companies Bill

Clause 386

Discharge of ancillary liquidator

(1)

Where an ancillary liquidator in Malaysia has remitted the balance of the proceeds of his liquidation to the Official Receiver and passed his final account the Official Receiver shall grant him a discharge in the prescribed form.

(2)

Where an ancillary liquidator has been appointed in Malaysia no person other than the Official Receiver shall be capable of acting as liquidator until the Court is satisfied, either that the ancillary liquidator has been discharged or that the appointment of a local agent of the intended liquidator in Malaysia has been approved by the court in Malaysia.