Singapore legislation
Section 81E
Section 81E
Duty to report on completion of default proceedings
(1)
An approved clearing house or a recognised clearing house —
must, upon the conclusion of any default proceedings commenced by it, make a report on those proceedings stating (as the case may be) in respect of each defaulter who is a subject of those proceedings —
the net sum (if any) certified by it to be payable by or to the defaulter; or
the fact that no sum is so payable; and
may include in that report such other particulars in respect of those proceedings as it thinks fit.
(2)
An approved clearing house, or a recognised clearing house, which has made a report under subsection (1) must supply the report to —
the Authority;
any relevant office holder acting in relation to —
the defaulter to whom the report relates; or
the estate of that defaulter; and
where there is no relevant office holder referred to in paragraph (b), the defaulter to whom the report relates.
(3)
The approved clearing house or recognised clearing house must publish a notice of the fact that a report has been made under subsection (1) in such manner as it thinks appropriate to bring that fact to the attention of the creditors of the defaulter to whom the report relates.
(4)
Where a relevant office holder or defaulter receives under subsection (2) a report made under subsection (1), the relevant office holder or defaulter must, at the request of a creditor of the defaulter to whom the report relates —
make the report available for inspection by the creditor; and
on payment of such reasonable fee as the relevant office holder or defaulter (as the case may be) determines, supply to the creditor the whole or any part of that report.
(5)
In subsections (2), (3) and (4), “report” includes a copy of a report.