Insolvency, Restructuring and Dissolution (Voluntary Winding Up) Regulations 2020
Table of Contents
Enacting Formula
Part 1 PRELIMINARY
1 Citation and commencement
2 Application of these Regulations
3 Forms
Part 2 PRESCRIBED FORMS
Division 1 — Provisions applicable to every voluntary winding up
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
Division 2 — Provisions applicable only to members’ voluntary winding up
8 Statement of affairs under section 163(2) of Act
9 Notice of meeting under section 165(7) of Act
Part 3 PROOF OF DEBTS
10 Proof of debts
11 Mode of proof
12 Verification of proof
13 Contents of proof
14 Costs of proof
15 Discount
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
Part 4 ADMISSION AND REJECTION OF PROOFS
22 Notice to creditors to prove
23 Examination of proof
24 Oaths
25 Creditor’s proof that has been admitted
Part 5 PROXIES IN RELATION TO CREDITORS’ VOLUNTARY WINDING UP
26 Proxies
27 Form of instrument of proxy
28 Form of instrument of proxy to be sent with notice of meeting
29 Special proxy
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
Part 6 DISCLAIMER
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
Part 7 DIVIDENDS
38 Dividends to creditors
Part 8 GENERAL PROVISIONS RELATING TO LIQUIDATORS AND COMMITTEES OF INSPECTION OF COMPANIES IN CREDITORS’ VOLUNTARY WINDING UP
Division 1 — Company’s dealings and transactions with liquidator or committee of inspection
39 Restrictions relating to liquidator’s remuneration
40 Committee of inspection not to make profit
Division 2 — Keeping of liquidator’s books and accounts
41 Books to be kept by liquidator
42 Liquidator carrying on business
43 Liquidator’s trading account
44 Expenses of sales
Division 3 — Duties of liquidator upon resignation or release
45 Notice of resignation of liquidator
46 Duties of liquidator on resignation, etc.
Part 9 RESTRICTIONS ON COMPANY’S DEALINGS AND TRANSACTIONS WITH LIQUIDATOR OR COMMITTEE OF INSPECTION
47 Dealings with assets
48 Restriction on purchase of goods by liquidator
Part 10 UNCLAIMED OR UNDISTRIBUTED ASSETS AND OUTSTANDING ASSETS OF DEFUNCT COMPANY
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
Part 11 MISCELLANEOUS
54 Prescribed value under section 234(1)(c) of Act