Singapore legislation
Clause 54
Clause 54
Saving and transitional provisions
(1)
Section 22 does not apply to or in relation to any compromise or arrangement proposed between a company and its creditors or any class of those creditors, for which an application under section 210(1) of the Companies Act is made before the date of commencement of section 22.
(2)
Despite section 25, section 227B of the Companies Act as in force immediately before the date of commencement of section 25 continues to apply to or in relation to any application under section 227B(1) of the Companies Act made before that date.
(3)
Despite section 26, section 227D of the Companies Act as in force immediately before the date of commencement of section 26 continues to apply to or in relation to any judicial management order arising from an application under section 227B(1) of the Companies Act made before that date.
(4)
Section 28 does not apply to or in relation to any judicial management order arising from an application under section 227B(1) of the Companies Act made before the date of commencement of section 28.
(5)
Despite section 29, section 227K(1)(b) of the Companies Act as in force immediately before the date of commencement of section 29 continues to apply to or in relation to any judicial management order arising from an application under section 227B(1) of the Companies Act made before that date.
(6)
Despite section 30, section 227M(2)(b) of the Companies Act as in force immediately before the date of commencement of section 30 continues to apply to or in relation to any judicial management order arising from an application under section 227B(1) of the Companies Act made before that date.
(7)
Despite section 31, section 227N(4) of the Companies Act as in force immediately before the date of commencement of section 31 continues to apply to or in relation to an order made by the Court under section 227N(4) of the Companies Act, if that order arose from a report given to the Court under section 227N(3) of the Companies Act by a judicial manager appointed under a judicial management order arising from an application under section 227B(1) of the Companies Act made before that date.
(8)
Despite section 32, section 227P(3) of the Companies Act as in force immediately before the date of commencement of section 32 continues to apply to or in relation to any statement of proposed revisions by a judicial manager appointed under a judicial management order arising from an application under section 227B(1) of the Companies Act made before that date.
(9)
Despite section 34, section 227X of the Companies Act as in force immediately before the date of commencement of section 34 continues to apply to or in relation to any judicial management order arising from an application under section 227B(1) of the Companies Act made before that date.
(10)
Despite section 40, section 351 of the Companies Act as in force immediately before the date of commencement of section 40 continues to apply to or in relation to an application made before that date for the winding up of an unregistered company.
(11)
Sections 41 and 50 do not apply to or in relation to —
any collective judicial or administrative proceeding, (including any interim proceeding) commenced before the date of commencement of sections 41 and 50, in a country other than Singapore, under a law relating to insolvency or adjustment of debt, in which proceeding the property and affairs of a corporation (as defined in section 4(1) of the Companies Act) are subject to control or supervision by a judicial or other authority (of that country) that is competent to control or supervise that proceeding, for the purpose of reorganisation or liquidation; or
any proceedings under any provision of sections 210 to 212 and Parts VIIIA and X of the Companies Act, or under any rule of law relating to insolvency or adjustment of debt, commenced before the date of commencement of sections 41 and 50.
(12)
Section 43 only applies to an order mentioned in section 372(4) of the Companies Act, if the order is made on or after the date of commencement of section 43.
(13)
Despite section 45, section 377 of the Companies Act as in force immediately before the date of commencement of section 45 continues to apply to or in relation to any liquidator of a foreign company appointed for Singapore by the High Court, or any person exercising the powers and functions of such a liquidator, if that foreign company went into liquidation or is dissolved in its place of incorporation or origin before that date.
(14)
For a period of 2 years after the date of commencement of any provision of this Act, the Minister may, by regulations, prescribe such additional provisions of a saving or transitional nature consequent on the enactment of that provision as the Minister may consider necessary or expedient.