Insolvency, Restructuring and Dissolution (Bankruptcy) (Amendment) Regulations 2023

Status:

Published in Subsidiary Legislation Supplement
on 27 Oct 2023

No. S 689

Insolvency, Restructuring
and Dissolution Act 2018

Insolvency, Restructuring and Dissolution
(Bankruptcy) (Amendment)
Regulations 2023

In exercise of the powers conferred by section 449 of the Insolvency, Restructuring and Dissolution Act 2018, the Minister for Law makes the following Regulations:

Citation and commencement

1. These Regulations are the Insolvency, Restructuring and Dissolution (Bankruptcy) (Amendment) Regulations 2023 and come into operation on 1 November 2023.

New regulation 13A

2. In the Insolvency, Restructuring and Dissolution (Bankruptcy) Regulations 2020 (G.N. No. S 587/2020), after regulation 13, insert —

“Remuneration sought by trustee in bankruptcy

13A.—(1) For the purposes of section 41(4)(a) of the Act, the prescribed manner for the trustee to notify the creditor of the remuneration sought by the trustee is by notice in Form BR‑18 sent to the creditor —

(a)	by registered post to the creditor’s usual or last known place of residence or business or at any address furnished by the creditor; or
(b)	by electronic means in accordance with section 442(1) of the Act.

(2) For the purposes of section 41(4)(b) of the Act —

(a)

the prescribed manner for the creditor to object to the remuneration is by notice in Form BR‑19 sent to the trustee; and

(b)

the prescribed time is —

(i)	if the notice was sent to the creditor under paragraph (1)(a) — 21 days after the day the notice is delivered; or
(ii)	if the notice was sent to the creditor under paragraph (1)(b) — 21 days after the day the notice is deemed to be delivered under section 442(3) or (4) of the Act.”.

[G.N. No. S 1049/2020]

Made on 3 October 2023.

LUKE GOH

Permanent Secretary,
Ministry of Law,
Singapore.

[LAW06/011/004; AG/LEGIS/SL/142B/2020/5 Vol. 1]

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