Insolvency, Restructuring and Dissolution (Official Assignee’s Fees) Regulations 2020

No. S 590

Insolvency, Restructuring
and Dissolution Act 2018

(ACT 40 OF 2018)

Insolvency, Restructuring and Dissolution
(Official Assignee’s Fees)
Regulations 2020

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 (Official Assignee’s Fees) Regulations 2020 and come into operation on 30 July 2020.

Definitions

2. In these Regulations —

“administration order” means an order for the administration in bankruptcy of a deceased debtor’s estate under section 419 of the Act;

“Bankruptcy Regulations” means the Insolvency, Restructuring and Dissolution (Bankruptcy) Regulations 2020 (G.N. No. S 587/2020).

Fees payable to Official Assignee for administering debt repayment schemes

3.—(1) The fees specified in the First Schedule are payable to the Official Assignee for the purposes of Part 15 of the Act and the Insolvency, Restructuring and Dissolution (Debt Repayment Scheme) Regulations 2020 (G.N. No. S 589/2020).

(2) The fees specified in items 1, 2 and 3 of the First Schedule are payable by the debtor.

Deposits and fees payable to Official Assignee in relation to bankruptcy proceedings, etc.

4.—(1) Subject to paragraph (2), the deposits specified in Part 1 of the Second Schedule are payable to the Official Assignee for the purposes of Parts 16, 17 and 21 of the Act and the Bankruptcy Regulations.

(2) The Official Assignee may allow a lower amount to be paid as a deposit in any particular case.

(3) Any part of the deposit that is not utilised by the Official Assignee or transferred to a trustee in bankruptcy (if one is appointed) must be refunded by the Official Assignee.

(4) The fees specified in Part 2 of the Second Schedule are payable to the Official Assignee for the purposes of Parts 16, 17 and 21 of the Act and the Bankruptcy Regulations.

Manner of payment of deposits and fees

5. The payment of any deposit or fee specified in these Regulations may be made by such means as the Official Assignee may, from time to time, direct.

Waiver, refund or remission of fee by Permanent Secretary of Ministry of Law

6. The Permanent Secretary of the Ministry of Law may, in his or her discretion, waive, refund or remit wholly or in part any fee under these Regulations.

Made on 21 July 2020.

LOH KHUM YEAN

Permanent Secretary,
Ministry of Law,
Singapore.

[LAW 06/011/004; AG/LEGIS/SL/142B/2015/8 Vol. 1]

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