Singapore legislation

Schedule 4

of Exchange Control Act 1953

Schedule 4

Legal proceedings, etc.

FOURTH SCHEDULESection 35(4)Legal proceedings, etc.1.—

(1)

The provisions of Part 3 of this Act shall apply to sums required to be paid by any judgment or order of any court or by any award as they apply in relation to other sums.(2) It shall be implied in any judgment or order of any court in Singapore, and in any award given under the law of Singapore, that any sum required to be paid by the judgment, order or award (whether as a debt, as damages or otherwise) to which the provisions of Part 3 of this Act apply shall not be paid except with the permission of the Authority.

2. Nothing in this Act shall be construed as preventing the payment by any person of any sum into any court in Singapore but the provisions of Part 3 of this Act shall apply to the payment of any sum out of court, whether under an order of the court or otherwise, to or for the credit of any person resident outside the scheduled territories.3.—

(1)

Without prejudice to the provisions of any written law relating to the making of Rules of Court, Rules of Court —

(a)

enabling any person who is required by any judgment, order or award to pay any sum, if he apprehends that the payment of that sum is unlawful under this Act except with the permission of the Authority, to pay that sum into court;

(b)

declaring that payment of a sum into court by virtue of sub-paragraph (a), together with the delivery to the other party concerned of such evidence of the payment as may be prescribed by the Rules, shall, to the extent of the payment, be a good discharge to the person making the payment; and

(c)

so regulating the process of execution which may issue in respect of any sum required to be paid by any judgment, order or award as to secure that, unless it is shown, in such manner as may be prescribed by the Rules, that the permission of the Authority for the payment of the sum is not required under this Act or has been given without conditions, the proceeds of the execution will be paid into court, and, so far as is necessary for that purpose, varying the form of any writ of execution or other similar document or the duties of the Sheriff or other officer to whom any such writ or other similar document is directed,may be made by the Rules Committee established under section 80 of the Supreme Court of Judicature Act 1969.(2) The form of any statutory demand shall be such as may be prescribed by the Authority.4.—

(1)

In any proceedings in a prescribed court and in any arbitration proceedings, a claim for the recovery of any debt shall not be defeated by reason only of the debt not being payable without the permission of the Authority and of that permission not having been given or having been revoked.(2) No court shall be prescribed for the purpose of this paragraph unless the Authority is satisfied that adequate provision has been made therefor by Rules of Court for the purposes specified under paragraph 3.5.—

(1)

In any bankruptcy, in the winding up of any company or in the administration of the estate of any deceased person (being a bankruptcy, winding up or administration carried on under the law of Singapore), a claim for a sum not payable without the permission of the Authority shall, notwithstanding that the permission has not been given or has been revoked, be admitted to proof as if it had been given and had not been revoked.(2) Nothing in sub-paragraph (1) shall be construed as affecting the application of the provisions of Part 3 of this Act to payments by any trustee, liquidator, personal representative or other person in any such bankruptcy, winding up or administration.(3) The provisions of this Act restricting the making of settlements shall not apply to any deed of arrangement made for the benefit of creditors generally, and sub‑paragraph (1) shall apply in relation to proceedings under any deed of arrangement as it applies in relation to proceedings in bankruptcy.

6. A debt for the payment of which the permission of the Authority is required under this Act shall, if in other respects it complies with the requirements of section 311(1) of the Insolvency, Restructuring and Dissolution Act 2018, be allowed to be a good petitioning creditor’s debt, notwithstanding those requirements, if and to the extent that the debt can be satisfied either by a payment into court or by a payment to a blocked account.[5/2014; 40/2018]