Singapore legislation

Clause 493

of Insolvency, Restructuring and Dissolution Bill

Clause 493

Amendment of Moneylenders Act

Section 11D(3) of the Moneylenders Act (Cap. 188, 2010 Ed.) is amended —

(a)

by deleting the words “under the Bankruptcy Act (Cap. 20)” in paragraph (a);

(b)

by deleting the words “Companies Act” in paragraphs (c), (d), (e), (f) and (g) and substituting in each case the words “Insolvency, Restructuring and Dissolution Act 2018 or any previous written law”; and

(c)

by inserting, immediately after paragraph (d), the following paragraph:“(da)the lodgment of a written notice of the appointment of an interim judicial manager under section 94(5)(a) of the Insolvency, Restructuring and Dissolution Act 2018 in respect of —

(i)

the licensee;

(ii)

any partner or substantial shareholder of the licensee; or

(iii)

any manager of the licensee, where the licensee is a limited liability partnership;”.

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