Insolvency, Restructuring and Dissolution (Court-Ordered Winding Up) Regulations 2020
Table of Contents
Enacting Formula
Part 1 PRELIMINARY
1 Citation and commencement
2 Application of these Regulations
3 Definition
4 Forms
Part 2 PROOF OF DEBTS
5 Proof of debts
6 Mode of proof
7 Verification of proof
8 Contents of proof
9 Costs of proof
10 Discount
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
Part 3 ADMISSION AND REJECTION OF PROOFS
17 Examination of proof
18 Oaths
19 Creditor’s proof that has been admitted
Part 4 DISCLAIMER
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
Part 5 DIVIDENDS
23 Dividends to creditors
24 Return of capital to contributories
Part 6 LIQUIDATOR AND COMMITTEE OF INSPECTION
Division 1 Provision of security by liquidator
25 Provisions as to security
26 Failure to give or keep up security
Division 2 Statement of affairs
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.
Division 3 Power of liquidator to compromise debt
32 Prescribed amount for section 144(2)(a) of Act
Division 4 Payments in and out of Companies Liquidation Account
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
Division 5 Company’s dealings and transactions with liquidator or committee of inspection
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
Division 6 Keeping and audit of liquidator’s books and accounts
40 Record Book
41 Cash Book
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
Division 7 Investment of assets of company and realisation of investment
47 Investment of company’s assets and realisation
Division 8 Unclaimed or undistributed assets and outstanding assets of defunct company
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
Division 9 Duties of liquidator upon resignation or release
54 Notice of resignation of liquidator
55 Duties of liquidator on resignation, etc.
Part 7 MISCELLANEOUS
56 Prescribed value for section 234(1)(c) of Act