Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 6 · Corporate Insolvency — Receivership
80. Time from which appointment of receiver or manager is effective
Feedback & supportIf any person obtains an order for the appointment of a receiver or manager of the property of a company, or of the property in Singapore of a corporation, the appointment is deemed to be made at the time the order is made.
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;
If any person is appointed as a receiver or manager of the property of a company, or of the property in Singapore of a corporation, under any powers contained in any instrument, the appointment —
company
“company” has the meaning given by section 4(1) of the Companies Act 1967;
is of no effect unless it is accepted by that person before the end of the business day next following that on which the instrument of appointment is received by or on behalf of that person; and
subject to paragraph (a), is deemed to be made at the time at which the instrument of appointment is so received.
This section applies to the appointment of 2 or more persons as joint receivers or managers of the property of a company, or of the property in Singapore of a corporation, subject to such modifications as may be prescribed by regulations.
corporation
“corporation” has the meaning given by section 4(1) of the Companies Act 1967;