Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 6 · Corporate Insolvency — Receivership
73. Application of this Part
Feedback & supportThis Part applies to every person who —
is appointed as receiver or manager of the property (whether in Singapore or elsewhere) of a company; or
is appointed in Singapore, whether pursuant to an order of court or otherwise, as receiver or manager of the property in Singapore of a corporation.
Every person who is appointed outside Singapore as receiver or manager of the property in Singapore of a corporation, must before acting as receiver or manager of the property in Singapore of that corporation, lodge with the Registrar of Companies a notice of appointment stating the date the person was so appointed.
property
“property” includes —(a)money, goods, things in action, land and every description of property, wherever situated; and(b)obligations and every description of interest, whether present or future or vested or contingent, arising out of or incidental to property;
Upon the lodgment of the notice mentioned in subsection (2), sections 75 to 78, 81(2) and (3), 82, 85, 86 and 87 apply to the person and the corporation mentioned in that subsection.
corporation
“corporation” has the meaning given by section 4(1) of the Companies Act 1967;
Any person who defaults in complying with subsection (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 and also to a default penalty.
default penalty
“default penalty” means a default penalty within the meaning given by section 267;
Any reference in this Part to a receiver includes a reference to a receiver and manager.
In this section, a person is deemed to be appointed in Singapore as receiver or manager of any property if —
the person is appointed as the receiver or manager of the property under the powers contained in any instrument; and
the person’s usual place of business is in Singapore.
In this Part, “corporation” means a corporation other than a company.
company
“company” has the meaning given by section 4(1) of the Companies Act 1967;