Singapore legislation

Clause 201

of Insolvency, Restructuring and Dissolution Bill

Clause 201

Meetings to ascertain wishes of creditors or contributories

(1)

The Court may —

(a)

as to all matters relating to the winding up of a company, have regard to the wishes of the creditors or contributories as proved to the Court by any sufficient evidence;

(b)

if the Court thinks fit for the purpose of ascertaining those wishes, direct meetings of the creditors or contributories to be called, held and conducted in such manner as the Court directs; and

(c)

appoint a person to act as chairperson of any such meeting and to report the result of that meeting to the Court.

(2)

In the case of creditors, regard must be had to the value of each creditor’s debt.

(3)

In the case of contributories, regard must be had to the number of votes conferred on each contributory by the Companies Act or the constitution of the company.

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