Singapore legislation
Section 44L
Section 44L
Power to make special administration order, etc.
(1)
If, on an application made to the Minister by the Board in relation to a designated entity, designated business trust or designated trust, the Minister is satisfied that any one or more of the grounds specified in subsection (2) are satisfied in relation to that designated entity, designated business trust or designated trust (as the case may be), the Minister may make any one or more of the following orders:
a special administration order in relation to that designated entity, designated business trust or designated trust, as the case may be;
an order requiring the designated entity, the trustee-manager of the designated business trust or the trustee of the designated trust (as the case may be) immediately to take any action or to do or not to do any act or thing in relation to the business or undertaking of the designated entity, the designated business trust or the designated trust as the Minister may consider necessary;
an order appointing a person to advise that designated entity, the trustee-manager of the designated business trust or the trustee of the designated trust (as the case may be) in the proper conduct of the business or undertaking of the designated entity, the designated business trust or the designated trust.
(2)
The grounds mentioned in subsection (1) are the following:
the designated entity, the trustee-manager of the designated business trust or the trustee of the designated trust (as the case may be) is or is likely to be unable to pay its debts;
the occurrence of a public emergency;
the Minister considers it in the interest of the security and reliability of the supply of water in Singapore;
the Minister considers it to be in the public interest.
(3)
The Minister may make a special administration order in relation to a designated entity, designated business trust or designated trust, despite the commencement of (if applicable) —
any proceedings relating to the making of an order under section 210 of the Companies Act 1967 or section 71 of the Insolvency, Restructuring and Dissolution Act 2018 in relation to a designated entity that is a corporation;
any proceedings relating to the making of a judicial management order under the Insolvency, Restructuring and Dissolution Act 2018 in relation to a designated entity that is a corporation; (c)any meeting convened under section 94(7) of the Insolvency, Restructuring and Dissolution Act 2018 in respect of a designated entity that is a corporation;
any proceedings under the Insolvency, Restructuring and Dissolution Act 2018 relating to the winding up of the affairs of a designated entity that is a company or an unregistered company;
any proceedings under the Limited Liability Partnerships Act 2005 relating to the winding up of the affairs of a designated entity that is a limited liability partnership; or
any proceedings before any court for the dissolution, winding up or termination (as the case may be) of any designated entity not mentioned in paragraph (d) or (e), or of any designated business trust or designated trust.
(4)
Notice of any application under subsection (1) must be given immediately by the Board to such persons and in such manner as may be determined by the Board.
(5)
Any order made by the Minister under subsection (1) must be published in such manner as will secure adequate publicity.
(6)
Any decision of the Minister under subsection (1) is final.
(7)
For the purposes of this section —
a designated entity that is a company is unable to pay its debts if it is deemed to be unable to pay its debts under section 125(2) of the Insolvency, Restructuring and Dissolution Act 2018;
a designated entity that is an unregistered company is unable to pay its debts if it is deemed to be unable to pay its debts under section 246(2) of the Insolvency, Restructuring and Dissolution Act 2018; and
a designated entity that is a limited liability partnership is unable to pay its debts if it is deemed to be unable to pay its debts under paragraph 3(2) of the Fifth Schedule to the Limited Liability Partnerships Act 2005.
(8)
The Minister may at any time (whether or not the appointment of the person has terminated) fix the remuneration and expenses to be paid by the designated entity, the trustee-manager of the designated business trust or the trustee of the designated trust (as the case may be) to any person appointed by the Minister under subsection (1)(c) to advise the designated entity, the trustee-manager of the designated business trust or the trustee of the designated trust (as the case may be) in the proper conduct of its business or undertaking.
(9)
Where —
the Minister issues an order under subsection (1) to a designated entity, the trustee-manager of a designated business trust or the trustee of a designated trust; and
the designated entity, the trustee-manager of the designated business trust or the trustee of the designated trust (as the case may be) fails to comply with that order,the designated entity, the trustee-manager of the designated business trust or the trustee of the designated trust (as the case may be) shall be guilty of an offence.