Insolvency, Restructuring and Dissolution (Court-Ordered Winding Up) Regulations 2020

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1 Citation and commencement

2 Application of these Regulations

7 Verification of proof

11 Periodical payments

12 Prescribed rate of interest under section 222 of Act

13 Proof for debt payable at future time

14 Proof of debt filed by licensed moneylenders

15 Workmen’s wages

16 Production of bills of exchange and promissory notes

17 Examination of proof

19 Creditor’s proof that has been admitted

20 Notice of disclaimer under section 230 of Act

21 Service of copy of notice of disclaimer on interested persons

22 Application by person interested in property

23 Dividends to creditors

24 Return of capital to contributories

25 Provisions as to security

26 Failure to give or keep up security

27 Preparation of statement of affairs

28 Extension of time for submission of statement of affairs under section 141(3) of Act

29 Preparation of statement of concurrence

30 Information subsequent to statement of affairs, etc.

31 Costs and expenses of preparing statement of affairs, etc.

32 Prescribed amount for section 144(2)(a) of Act

33 Remittances to authorised bank account or Companies Liquidation Account

34 Mode of payments out of Companies Liquidation Account

34A Mode of payments out of authorised bank account

35 Court may give directions

36 Restrictions relating to liquidator’s remuneration

37 Dealings with assets

38 Restriction on purchase of goods by liquidator

39 Committee of inspection not to make profit

42 Audit of Cash Book

43 Liquidator’s account and statement under section 192 of Act

44 Liquidator carrying on business

45 Liquidator’s trading account

46 Expenses of sales

47 Investment of company’s assets and realisation

48 Investments representing unclaimed funds

49 Liquidator to provide information to Official Receiver

50 Certificate of receipt of payment under section 197(1) of Act

51 Demand for payment out of Companies Liquidation Account

52 Application by liquidator for payment out

53 Disposal of outstanding interests under section 214 of Act

54 Notice of resignation of liquidator

55 Duties of liquidator on resignation, etc.

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

No. S 607

Insolvency, Restructuring
and Dissolution Act 2018

(ACT 40 OF 2018)

Insolvency, Restructuring and Dissolution
(Court-Ordered Winding Up)
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 (Court‑Ordered Winding Up) Regulations 2020 and come into operation on 30 July 2020.

Application of these Regulations

2.—(1) These Regulations apply to —

(a)	any company against which an application for an order of the Court for the winding up of the company has been made under section 124(1) of the Act;
(b)	any company that is wound up under an order of the Court under section 125(1) of the Act; or
(c)	any unregistered company that is wound up under Division 1 of Part 10 of the Act, read with Parts 8 and 9 and section 246(1) of the Act.

(2) In this regulation, “unregistered company” has the meaning given by section 245(1) of the Act.

Definition

3. In these Regulations, “statement of affairs” means a statement as to the affairs of a company submitted to the Official Receiver under section 141(1) of the Act.

Forms

4. 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 to be 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/2015/14 Vol. 2]

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