Who is the Official Receiver?
The Official Receiver is a public officer who acts as:
A Liquidator in Compulsory Winding Up
The Official Receiver is a public officer who may be appointed by the High Court to act as the liquidator of companies undergoing compulsory winding up in Singapore. The Official Receiver’s role as a liquidator is to expeditiously recover and realise the assets of the wound up company for the distribution of dividends to creditors and administer any outstanding matters involving the wound up company.
A Regulator In Compulsory & Voluntary Winding Up
Where a private liquidator is appointed to administer the affairs of a wound up company, the Official Receiver will monitor the liquidator’s conduct to ensure that he performs his duties and complies with the requirements under the law.
A Representative in Defunct Cases (a company that was dissolved)
Where there are outstanding assets belonging to a defunct company, these are vested in the Official Receiver under section 346 of the Companies Act (Cap. 50). The Official Receiver will then act as a representative of the defunct company to administer these assets under sections 345 and 347 of the Companies Act (Cap. 50).
The Official Receiver may also represent the company in certain events, if it is proven to her satisfaction under section 345(1) of the Companies Act (Cap. 50).
A Liquidator for Unincorporated Entities
Where the Official Receiver is appointed as a liquidator to act for an unincorporated entity (i.e. trade unions, societies, mutual benefit organisations or cooperative societies) whose registration is cancelled by the Registrar, its properties will vest in the Official Receiver. The Official Receiver will pursue the Statement of Assets from the office bearers and take the necessary steps to realise the assets of the unincorporated entity. Any proceeds derived are used to repay the unincorporated entity’s debts and liabilities (if any) by way of a dividends declaration.