Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 6 · Corporate Insolvency — Receivership
74. Disqualification from appointment as receiver or manager
Feedback & supportThe following are not qualified to be appointed, and must not act, as a receiver or manager of the property of a company (called in this subsection the relevant company), or of the property in Singapore of a corporation (called in this subsection the relevant corporation):
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;
a company or corporation;
an undischarged bankrupt;
a chargee or other security holder of any property of the relevant company or relevant corporation;
an auditor of the relevant company or relevant corporation;
a director, secretary or employee of the relevant company or relevant corporation, or of any company or corporation that is a chargee or other security holder of the property of the relevant company or relevant corporation;
any individual (other than the Official Receiver) who is not a licensed insolvency practitioner.
Subsection (1)(a) does not apply to any company or corporation authorised by any written law to act as a receiver or manager of the property of a company, or of the property in Singapore of a corporation.
company
“company” has the meaning given by section 4(1) of the Companies Act 1967;
Subsection (1) does not apply to a person acting as a receiver or manager of the property of a company, or of the property in Singapore of a corporation, under an appointment validly made before 30 July 2020.
corporation
“corporation” has the meaning given by section 4(1) of the Companies Act 1967;