Singapore legislation
Clause 232
Clause 232
Court order vesting disclaimed property
(1)
This section and section 233 apply where a judicial manager or liquidator has disclaimed property under section 230.
(2)
An application under this section may be made to the Court by —
any person who claims an interest in the disclaimed property; or
any person who is under any liability in respect of the disclaimed property, not being a liability discharged by the disclaimer.
(3)
The Court may, on an application made under subsection (2), make an order to set aside the disclaimer or make such order as the Court thinks just, where the injury caused by the disclaimer outweighs any advantage likely to be gained by the judicial manager or liquidator.
(4)
The Court may, on an application made under subsection (2), also make an order, on such terms as the Court thinks fit, for the vesting of the disclaimed property in, or for its delivery to —
a person entitled to the disclaimed property or a trustee for such a person; or
a person subject to a liability mentioned in subsection (2)(b) or a trustee for such a person.
(5)
The Court must not make an order under subsection (4)(b) except where it appears to the Court that it would be just to do so for the purpose of compensating the person subject to the liability in respect of the disclaimer.
(6)
The effect of any order under this section must be taken into account in assessing for the purpose of section 230(5) the extent of any loss or damage sustained by any person in consequence of the disclaimer.
(7)
An order under this section vesting property in any person —
need not be completed by conveyance, assignment or transfer; but(b)does not have any effect or operation in transferring or otherwise vesting land until the appropriate entries are made with respect to the vesting of land by the appropriate authority.