Singapore legislation

Clause 467

of Insolvency, Restructuring and Dissolution Bill

Clause 467

Amendment of Cross-Border Railways Act 2018

The Cross-Border Railways Act 2018 (Act 21 of 2018) is amended —

(a)

by deleting the words “Companies Act (Cap. 50)” in sections 20(1)(b) and 24(1)(b) and substituting in each case the words “Insolvency, Restructuring and Dissolution Act 2018”;

(b)

by inserting, immediately after paragraph (b) of section 20(1), the following paragraph:“(ba)the company must not appoint an interim judicial manager under section 94(3) of the Insolvency, Restructuring and Dissolution Act 2018, unless the company has served on the Minister 14 days’ notice in writing of the company’s intention to make the appointment;”;

(c)

by deleting the words “or 211I of the Companies Act” in sections 20(1)(c) and (2)(c) and 24(1)(c) and (2)(c) and substituting in each case the words “of the Companies Act or section 71 of the Insolvency, Restructuring and Dissolution Act 2018”;

(d)

by deleting the words “Companies Act” in sections 20(2)(a) and (b) and 24(2)(a) and (b) and substituting in each case the words “Insolvency, Restructuring and Dissolution Act 2018”;

(e)

by deleting the word “or” at the end of paragraph (b) of section 20(2), and by inserting immediately thereafter the following paragraph:“(ba)any meeting convened under section 94(7) of the Insolvency, Restructuring and Dissolution Act 2018 in relation to a company which is a concessionaire; or”;

(f)

by inserting, immediately after paragraph (b) of section 24(1), the following paragraph:“(ba)the company must not appoint an interim judicial manager under section 94(3) of the Insolvency, Restructuring and Dissolution Act 2018, unless the company has served on the Minister 14 days’ notice in writing of the company’s intention to make the appointment;”;

(g)

by deleting the word “or” at the end of paragraph (b) of section 24(2), and by inserting immediately thereafter the following paragraph:“(ba)any meeting convened under section 94(7) of the Insolvency, Restructuring and Dissolution Act 2018 in relation to a company which is a railway assets operator; or”; and

(h)

by deleting the words “section 254(2) of the Companies Act (Cap. 50)” in section 39(3) and substituting the words “section 125(2) of the Insolvency, Restructuring and Dissolution Act 2018”.

Read in full context — Insolvency, Restructuring and Dissolution Bill →