Malaysia legislation

Section 60

of INSOLVENCY ACT 1967

Section 60

Insolvency 81

Subject to this Act, the Director General of Insolvency may—

(a)

sell all or any part of the property of the bankrupt, including the goodwill of his business, if any, and the book-debts due or growing due to him, by public auction or private contract, with power to transfer the whole thereof to any person or company or to sell the same in parcels;

Insolvency 83

(b)

give receipts for any money received by him, which receipts shall effectually discharge the person paying the money from all responsibility in respect of the application thereof;

(c)

prove, rank, claim, and draw a dividend in respect of any debt due to the bankrupt;

(d)

exercise any powers, the capacity to exercise which is vested in the Director General of Insolvency under this

Act, and execute any powers of attorney, deeds and other instruments for the purpose of carrying into effect this

Act;

(e)

deal with any property to which the bankrupt is beneficially entitled sui juris, or other owner of an estate of inheritance less than an estate in perpetuity, in the same manner as the bankrupt might have dealt with it; and any such dealing with any property to which the bankrupt is before his discharge so entitled shall, although the bankrupt is dead at the time of that dealing, be as valid and have the same operation as though the bankrupt were then alive.

Powers exercisable by Director General of Insolvency subject to orders of court