Insolvency, Restructuring and Dissolution (Corporate Insolvency and Restructuring) Rules 2020

No. S 603

Insolvency, Restructuring
and Dissolution Act 2018

(ACT 40 OF 2018)

Insolvency, Restructuring and Dissolution
(Corporate Insolvency and Restructuring)
Rules 2020

In exercise of the powers conferred by section 448 of the Insolvency, Restructuring and Dissolution Act 2018, we, the Rules Committee, make the following Rules:

PART 1

PRELIMINARY

Citation and commencement

1. These Rules are the Insolvency, Restructuring and Dissolution (Corporate Insolvency and Restructuring) Rules 2020 and come into operation on 30 July 2020.

Definitions

2.—(1) In these Rules, unless the context otherwise requires —

“committee of creditors” means a committee established under section 109 of the Act;

“committee of inspection” means a committee of inspection comprising or representing creditors and contributories appointed under section 151 of the Act or a committee of inspection appointed under section 169 of the Act;

“Court” includes the Registrar when exercising the powers of the General Division of the High Court under the Act or these Rules;

[S 1039/2020 wef 02/01/2021]

“Court-Ordered Winding Up Regulations” means the Insolvency, Restructuring and Dissolution (Court-Ordered Winding Up) Regulations 2020 (G.N. No. S 607/2020);

“filed” means filed in the Court;

“Form” means a form set out in the First Schedule, and a form referred to by a number (where such number may include alphanumeric characters) means the form so numbered in that Schedule;

“gazetted” means published in the Gazette;

“Judicial Management Regulations” means the Insolvency, Restructuring and Dissolution (Judicial Management) Regulations 2020 (G.N. No. S 606/2020);

“judicial manager” has the meaning given by section 88(1) of the Act;

“liquidator” includes a provisional liquidator;

“Registry” means the Registry of the Supreme Court;

“regulations” means —

(a)	the Insolvency, Restructuring and Dissolution (Proofs of Debt in Schemes of Arrangement) Regulations 2020 (G.N. No. S 604/2020);
(b)	the Insolvency, Restructuring and Dissolution (Receivership) Regulations 2020 (G.N. No. S 605/2020);
(c)	the Judicial Management Regulations;
(d)	the Court‑Ordered Winding Up Regulations;
(e)	the Voluntary Winding Up Regulations; and
(f)	the Insolvency, Restructuring and Dissolution (Assignments of Proceeds of an Action) Regulations 2020 (G.N. No. S 611/2020);

“Rules of Court” means the Rules of Court 2021 (G.N. No. S 914/2021) for the time being in force;

[S 195/2022 wef 01/04/2022]

“scheme manager” and “scheme of arrangement” have the meanings given by section 61(1) of the Act;

“sealed” means sealed with the seal of the Court;

“Voluntary Winding Up Regulations” means the Insolvency, Restructuring and Dissolution (Voluntary Winding Up) Regulations 2020 (G.N. No. S 608/2020);

“working day” means any day other than a Saturday, Sunday or public holiday.

(2) In these Rules —

(a)

any reference to Part 3 of the Act is a reference to only those provisions in —

(i)	Division 1 of that Part concerning the Official Receiver; and
(ii)	Division 3 of that Part; and

(b)

any reference to Part 22 of the Act is a reference to that Part only in the case of a debtor that is a corporation.

(3) Where an act is required in these Rules to be done a specified number of clear working days before or after a specified date, at least that number of working days must intervene between the day on which the act is done and that date.

Application

3. These Rules apply to —

(a)	the proceedings, practice and procedure of the General Division of the High Court under Parts 3 to 12 and 22 of the Act; and [S 1039/2020 wef 02/01/2021]
(b)	the matters incidental to or relating to the proceedings, practice and procedure mentioned in paragraph (a).

Practice directions

4. The Registrar may issue practice directions concerning the business of the Registry in relation to applications to the Court under Parts 3 to 12 or Part 22 of the Act, these Rules or the regulations.

Made on 3 June 2020.

SUNDARESH MENON

Chief Justice.

LUCIEN WONG

Attorney-General.

TAY YONG KWANG

Judge of Appeal.

STEVEN CHONG

Judge of Appeal.

BELINDA ANG SAW EAN

Judge.

QUENTIN LOH

Judge.

VINODH COOMARASWAMY

Judge.

VINCENT HOONG SENG LEI

Presiding Judge of the State Courts.

JAMES LEONG

District Judge.

FRANCIS XAVIER, SC

Advocate and Solicitor.

KUAH BOON THENG, SC

Advocate and Solicitor.

[LAW 06/011/004; AG/LEGIS/SL/142B/2015/16 Vol. 6]

(To be presented to Parliament under section 448(3) of the Insolvency, Restructuring and Dissolution Act 2018).

Search within Legislation