Singapore legislation
Clause 527
Clause 527
Other saving and transitional provisions
(1)
Despite anything in this Act, a person who is a qualified person may undertake the relevant work corresponding to the person’s qualification —
for a period of 6 months after the appointed day; and
if, within the period in paragraph (a), the person applies for a licence under section 51, until the earlier of the following:
the date on which the licensing officer grants the licence to the person;
the date on which the application is finally refused or withdrawn.
(2)
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.
(3)
In this section —
Definition
“appointed day” means the day Division 3 of Part 3 comes into operation;
Definition
“qualified person” means —
a person (each called in this subsection an approved liquidator) —
belonging to a class of persons declared, under section 9(1) of the Companies Act as in force immediately before the appointed day, to be approved liquidators; or
who is approved as a liquidator under section 9(2) of the Companies Act as in force immediately before that day;
a public accountant; or
a solicitor;
Definition
“relevant work” means —
in relation to a qualified person who is an approved liquidator, acting as a liquidator or provisional liquidator, or as a receiver or manager, under this Act;
in relation to a qualified person who is a public accountant, acting as a judicial manager or interim judicial manager, a trustee of a bankrupt’s estate or a nominee under a voluntary arrangement, under this Act; or
in relation to a qualified person who is a solicitor, acting as a trustee of a bankrupt’s estate or a nominee under a voluntary arrangement, under this Act.