Insolvency, Restructuring and Dissolution (Judicial Management) Regulations 2020

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1 Citation and commencement

4 Notice of special resolution

5 Notice of intention to appoint interim judicial manager required under section 94(2) of Act

6 Notice of appointment of interim judicial manager

7 Filing, inspection and adjudication of proof of debt for purposes of meeting under section 94(7) of Act

9 Adjournment of pre-appointment meeting of creditors

10 Information to be given by judicial manager under section 105 of Act

11 Application of this Part

14 Verification by proof

15 Contents of proof

18 Periodical payments

19 Prescribed rate of interest under section 222 of Act

20 Proof of debt filed by licensed moneylenders

21 Workmen’s wages

22 Production of bills of exchange and promissory notes

23 Notice of first meeting of creditors

24 Form of notice of first meeting of creditors

25 Notice of first meeting of creditors to officers of company

26 Mode of delivery of statement of proposals

27 Summary of statement of affairs

28 Judicial manager’s meeting of creditors

29 Application of regulations as to meetings

30 Summoning of judicial manager’s meeting of creditors

31 Place of meeting of creditors

32 Costs of summoning meeting of creditors

33 Chairperson of meeting

34 Ordinary resolution of creditors

36 Adjournment of meeting

37 Creditors entitled to vote

38 Cases in which creditors may not vote

39 Votes of secured creditors

40 Admission and rejection of proofs for purpose of voting

41 Statement of security

42 Minutes of meeting

43 Copy of resolution to be lodged

44 Copy of proposals, revised proposals and report of result of meeting of creditors

45 Notice to creditors to prove

46 Examination of proof

47 Appeal by creditor

48 Expunging proof at instance of judicial manager

49 Expunging proof at instance of creditor

51 Notice of disclaimer under section 230 of Act

52 Service of copy of notice of disclaimer on interested persons

53 Application by person interested in property

54 Constitution, meetings, etc., of committee of creditors

55 Notification and advertisement of appointment of replacement judicial manager

56 Prescribed value under section 234(1)(c) of Act

No. S 606

Insolvency, Restructuring
and Dissolution Act 2018

(ACT 40 OF 2018)

Insolvency, Restructuring and Dissolution
(Judicial Management) 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:

PART 1

PRELIMINARY

Citation and commencement

1. These Regulations are the Insolvency, Restructuring and Dissolution (Judicial Management) Regulations 2020 and come into operation on 30 July 2020.

Definitions

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

“application for a judicial management order” means an application made to the Court under section 91 of the Act for an order that a company should be placed under the judicial management of a judicial manager;

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

“Filing of Documents Regulations” means the Insolvency, Restructuring and Dissolution (Filing, Lodgment and Submission of Documents) Regulations 2020 (G.N. No. S 586/2020);

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

(2) For the purposes of these Regulations, a company “enters judicial management” or is “in judicial management” within the meanings given to those terms in section 88(2)(a), (b), (c), (d) and (e) of the Act.

Forms

3. The Forms to be used for the purposes of these Regulations are those set out on the Internet website of the Ministry of Law at https://www.mlaw.gov.sg, and any reference in these Regulations to a numbered form (where the number may include alphanumeric characters) is construed as a reference to the current version of the form bearing the corresponding number that is displayed at that website.

Made on 16 June 2020.

LOH KHUM YEAN

Permanent Secretary,
Ministry of Law,
Singapore.

[LAW 06/011/004; AG/LEGIS/SL/142B/2015/12 Vol. 2]

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