Insolvency, Restructuring and Dissolution (Voluntary Winding Up) Regulations 2020

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1 Citation and commencement

2 Application of these Regulations

4 Statutory declaration and declaration under section 161(1) of Act

5 Affidavit and list of creditors under section 185 of Act

6 Notice of appointment, etc., under section 191 of Act

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

8 Statement of affairs under section 163(2) of Act

9 Notice of meeting under section 165(7) of Act

12 Verification of proof

13 Contents of proof

16 Periodical payments

17 Prescribed rate of interest under section 222 of Act

18 Proof for debt payable at a future time

19 Proof of debt filed by licensed moneylenders

20 Workmen’s wages

21 Production of bills of exchange and promissory notes

22 Notice to creditors to prove

23 Examination of proof

25 Creditor’s proof that has been admitted

27 Form of instrument of proxy

28 Form of instrument of proxy to be sent with notice of meeting

30 Proxy to liquidator

31 Holder of proxy not to vote on financially interested matter

32 Time for lodgment of instrument of proxy

33 Use of proxy by person appointed by Official Receiver

34 Proxy of creditor who is blind or incapable of writing

35 Notice of disclaimer under section 230 of Act

36 Service of copy of notice of disclaimer on interested persons

37 Application by person interested in property

38 Dividends to creditors

39 Restrictions relating to liquidator’s remuneration

40 Committee of inspection not to make profit

41 Books to be kept by liquidator

42 Liquidator carrying on business

43 Liquidator’s trading account

44 Expenses of sales

45 Notice of resignation of liquidator

46 Duties of liquidator on resignation, etc.

47 Dealings with assets

48 Restriction on purchase of goods by liquidator

49 Liquidator to provide information to Official Receiver

50 Certificate of moneys paid 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 Prescribed value under section 234(1)(c) of Act

No. S 608

Insolvency, Restructuring
and Dissolution Act 2018

(ACT 40 OF 2018)

Insolvency, Restructuring and Dissolution
(Voluntary 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 (Voluntary Winding Up) Regulations 2020 and come into operation on 30 July 2020.

Application of these Regulations

2.—(1) These Regulations apply to any company that is wound up under Division 3 of Part 8 of the Act but not a company that is wound up voluntarily under the simplified winding up programme established under section 250C of the Act.

[S 49/2021 wef 29/01/2021]

(2) Unless otherwise stated in these Regulations —

(a)	the provisions in Division 1 of Part 2 and Parts 6, 9, 10 and 11 apply to both a creditors’ voluntary winding up and a members’ voluntary winding up;
(b)	the provisions in Division 2 of Part 2 apply only to a members’ voluntary winding up; and
(c)	the provisions in Parts 3, 4, 5, 7 and 8 apply only to a creditors’ voluntary winding up.

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 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/2015/19 Vol. 1]

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