Singapore legislation

Clause 142

of Insolvency, Restructuring and Dissolution Bill

Clause 142

Statements of concurrence

(1)

Where a statement of affairs has been submitted to the Official Receiver or the liquidator, the Official Receiver or the liquidator (as the case may be) may require any of the persons mentioned in section 141(2) to submit a statement of concurrence verified by affidavit, stating that the person concurs in the statement of affairs.

(2)

A statement of concurrence made under subsection (1) may be qualified in respect of matters dealt with in the statement of affairs, where the maker of the statement of concurrence —

(a)

is not in agreement with the persons making the statement of affairs;

(b)

considers the statement of affairs to be erroneous or misleading; or

(c)

is without the direct knowledge necessary for concurring in the statement of affairs.

(3)

Every statement of concurrence must be submitted to the Official Receiver or the liquidator (as the case may be) within 14 days after a request to submit the statement of concurrence or within such extended time as the Official Receiver or the liquidator or the Court may specify.

(4)

Where the Official Receiver is not the liquidator, a copy of the statement of concurrence must be lodged with the Official Receiver.

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