Singapore legislation

Clause 114

Amendment of Insolvency, Restructuring and Dissolution Act 2018

Section 250(7) of the Insolvency, Restructuring and Dissolution Act 2018 (Act 40 of 2018) is amended —

(a)

by deleting paragraph (d) of the definition of “relevant company”; and

(b)

by deleting paragraphs (n) and (o) of the definition of “relevant company” and substituting the following paragraphs:“(n)an operator of a payment system designated under section 42 of the Payment Services Act 2019;

(o)

a person that has in force a licence granted under section 6 of the Payment Services Act 2019 that entitles the person to carry on a business of providing one or more of the following payment services:

(i)

a cross‑border money transfer service;

(ii)

a domestic money transfer service;

(iii)

an e‑money issuance service;

(iv)

a merchant acquisition service.”.

Read in full context — Payment Services Bill →