Clause 387

Where a company incorporated in Malaysia has property in Singapore, then whether such company has a place of business in Singapore or not, any person who would be entitled to present a petition for the winding-up of the company if it were incorporated in Singapore may present to the Court a petition in the prescribed form for the appointment of the Official Receiver as provisional liquidator of the company and if the Court is satisfied that such an interim appointment is required for the preservation of such property and on the petitioner giving an undertaking, with such security as the Court may require, to present to the court in Malaysia and prosecute with due diligence a petition for the winding-up of the company by such court, the Court may make an order appointing the Official Receiver as provisional liquidator of the company.

Subject to the terms of such order the powers of a provisional liquidator under this section shall be the same as those of an ancillary liquidator under section 382 so far as those provisions are applicable:Provided that with regard to any matters in which an ancillary liquidator is required to act on the request of a principal liquidator, a provisional liquidator shall use his own discretion and that in any case of unusual difficulty he may apply to the Court for directions.