Companies (Application of Bankruptcy Act Provisions) (Revocation) Regulations 2020

Status:

Published in Subsidiary Legislation Supplement
on 23 Jul 2020

No. S 579

Companies Act

(CHAPTER 50)

Companies
(Application of Bankruptcy Act Provisions)
(Revocation) Regulations 2020

In exercise of the powers conferred by section 411 of the Companies Act, the Minister for Finance makes the following Regulations:

Citation and commencement

1. These Regulations are the Companies (Application of Bankruptcy Act Provisions) (Revocation) Regulations 2020 and come into operation on 30 July 2020.

Revocation

2. The Companies (Application of Bankruptcy Act Provisions) Regulations (Rg 3) are revoked.

Saving and transitional provision

3. Despite regulation 2, the Companies (Application of Bankruptcy Act Provisions) Regulations as in force immediately before 30 July 2020 continue to apply to or in relation to the following:

(a)

any settlement, conveyance or transfer of property, charge on property, payment made or obligation incurred, by a company that is placed under judicial management —

(i)	pursuant to an application made before that date under section 227B(1) of the Act; or
(ii)	arising from an application made before that date for recognition of a foreign proceeding under Article 15(1) of the Tenth Schedule to the Act;

(b)

any transfer, mortgage, delivery of goods, payment, execution or other act relating to property made or done by or against —

(i)	a company in respect of which a winding up order under section 216(2)(f) of the Act was made before that date;
(ii)	a company that is wound up pursuant to an application made before that date for winding up under section 253 of the Act;
(iii)	a company in respect of which voluntary winding up was commenced within the meaning of section 291(6) of the Act before that date;
(iv)	an unregistered company that is wound up pursuant to an application made before that date for winding up under section 351 of the Act;
(v)	a foreign company that is wound up pursuant to a notice of commencement of liquidation or dissolution proceedings in its place of incorporation or origin that was lodged under section 377(2)(a) of the Act before that date; or
(vi)	a corporation that is wound up pursuant to an application made before that date for recognition of a foreign proceeding under Article 15(1) of the Tenth Schedule to the Act.

Made on 6 July 2020.

TAN CHING YEE

Permanent Secretary,
Ministry of Finance,
Singapore.

[F14.1.35.V2; LAW 06/011/004; AG/LEGIS/SL/50/2015/19 Vol. 1]

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