Singapore legislation

Section 81L

of Securities and Futures Act 2001

Section 81L

Law of insolvency in other jurisdictions

Amended by34/201234/2012

(1)

Despite any other written law or rule of law, a court is not to recognise or give effect to —

(a)

an order of a court exercising jurisdiction under the law of insolvency in any place outside Singapore; or

(b)

an act of a person appointed in any place outside Singapore to perform a function under the law of insolvency in that place,insofar as the making of the order by a court in Singapore, or the doing of the act by a relevant office holder, would be prohibited under this Act.

Amended by34/2012

(2)

In this section, “law of insolvency”, in relation to a place outside Singapore, means any law of that place which is similar to, or serves the same purposes as, any part of the law of insolvency in Singapore.

Amended by34/2012