Section 198
Outstanding assets of company wound up on grounds of national security or interest
of Insolvency, Restructuring and Dissolution Act 2018
ActIn forceProvision 220 of 570
Section 198
Despite any written law or rule of law to the contrary, upon a company being wound up under section 125(1)(n) on the ground that it is being used for purposes against national security or interest, the Court may, on the application of the Minister, order that any assets of the company remaining, after payment of its debts and liabilities and the costs, charges and expenses of the winding up, be paid into the Consolidated Fund.