If any element is present in its maximum oxidation state then its can only show reduction but if it is present in its minimum oxidation number then it can show only oxidation.
If any element is present in its any of the moderate oxidation number then it can show both oxidation and reduction.
Here in OCl− , Cl is in its +1 oxidation number and oxidation number range of chlorine element is −1 to +7 so it means this anion can undergo both oxidation and reduction.