The Official Receiver’s office is governed by the Bankruptcy Act 1944, Companies Act 2015 and the Companies Regulations 2015. The duties are to establish whether persons against whom Receiving Orders and Winding up Orders have been made, are in fact insolvent and take steps accordingly to enforce the bankruptcy and winding up orders made by the Court.
The primary purpose of the Official Receiver is to discharge its statutory functions and duties in accordance with the provisions of the Bankruptcy Act 1944, Companies Act 2015 and Companies (Winding Up) Rules 2015. Under the Companies Act 2015, the Official Receiver acts as provisional liquidator of the affairs of the Companies against which winding Up Orders are issued.
The Official Receiver also ensures that the provisions of the Bankruptcy Act 1944 and Companies Act 2015 are properly and efficiently addressed. The responsibilities also include the administration of the office, court attendance, calling of meetings of debtors and creditors, publication of official notices, keeping of accounts relating to bankrupt estates and companies in liquidation, marshalling of assets, reception of claims by creditors and distribution of liquidated assets to creditors and contributories.
To improve the capacity to carry out investigative and distributive roles, the Official Receiver must ensure that at all times, there is transparency and accountability in the conduct of its officers.