Singapore legislation
Regulation 126
of Insolvency, Restructuring and Dissolution (Corporate Insolvency and Restructuring) Rules 2020
Regulation 126
Liquidator to collect and distribute assets of company
Subregulation 1
The powers and duties conferred and imposed on the Court by section 152(1) of the Act with regard to the collection of the assets of a company and the application of the assets in discharge of the company’s liabilities are to be exercised or performed by the liquidator subject to the control of the Court.
Subregulation 2
For the purpose of the exercise or discharge by the liquidator of the powers and duties imposed by section 152(1) of the Act read with paragraph (1), the liquidator is, for the purpose of acquiring or retaining possession of the property of the company, in the same position as if the liquidator were a receiver of the property appointed by the Court, and the Court may, on an application of the liquidator, enforce such acquisition or retention accordingly.