The Department of Insolvency performs the following functions:
To administer the affairs of debtors and bankrupts pursuant to Insolvency Act 1967 [Act 360] and Insolvency Rules 2017.
To act as Provisional Liquidator or appointed Liquidator for companies that has been wound up pursuant to the Companies Act 2016 [Act 777] and Companies Rules (Winding-up) 1972.
To administer the affairs of societies that has been deregistered pursuant to the Societies Act 1966 [Act 335] and Societies Rules 1984.
To administer the affairs of trade unions that have been deregistered pursuant to the Trade Unions Act 1959 [Act 262] and Trade Unions Rules 1959.
To conduct investigation and enforcement of relevant laws in relation to any offences allegedly done by bankrupts pursuant to the Insolvency Act 1967, company directors pursuant to the Companies Act 2016, the Societies Act 1966, the Trade Unions Act 1959 and any laws in relation to bankruptcy and winding-up.
To conduct prosecution of all criminal and quasi-criminal cases pursuant to the Insolvency Act 1967 and the Companies Act 2016.
To be the reference for the Government of Malaysia and its departments on any legal issues related to bankruptcy, companies winding-up, deregistered societies and trade unions.
To represent the Government of Malaysia, its departments, bankrupts, and wound-up companies in all civil proceedings in court.
To provide search services on individual bankruptcy status and companies status.
To manage the financial and insolvency accounting affairs as well as asset realization activities provided under the Insolvency Act 1967, the Companies Act 2016, the Financial Procedure Act 1957 [Act 61] or the Treasury Instructions.
To manage and supervise the administration of the headquarters and all state and branch offices of the Department of Insolvency throughout Malaysia.