Singapore legislation
Section 73
Section 73
Meaning and effect of special administration order
(1)
A special administration order is an order of the Minister made in accordance with section 72(1)(a) in relation to an airport licensee and directing that, during the period for which the order is in force, the affairs, business and property of the airport licensee must be managed by a person appointed by the Minister —
for the achievement of all or any of the purposes of such an order; and
in a manner which protects the respective interests of the members, creditors and customers of the company.
(2)
The purposes of a special administration order made in relation to any company are for —
the security and reliability of the supply of airport services and facilities relating to the airport;
the survival of the company, or the whole or part of its undertaking as a going concern;
the transfer to another person, or (as respects different parts of its undertaking) to 2 or more different persons, as a going concern, of so much of the company’s undertaking as is necessary to transfer in order to ensure that the functions which have been vested in the company by virtue of its airport licence may be properly carried out; and
the carrying out of those functions pending the making of the transfer of those functions in the other person or persons.
(3)
The Minister may, by rules in the Gazette, give effect to this Part, including making provision for applying, omitting or modifying provisions of Part 7 of the Insolvency, Restructuring and Dissolution Act 2018 where a special administration order is made.