Singapore legislation
Clause 24
Clause 24
Amendment of section 58
Section 58 of the principal Act is amended —
by deleting subsection (1) and substituting the following subsection:“(1) The following are not subject to distress, and are not liable to be taken in execution under any process of a court in any bankruptcy or insolvency proceedings against any person, without the prior written approval of the Minister:
in relation to a public postal licensee — any installation or plant used for posts of the licensee;
in relation to the public parcel locker network operator — any public parcel locker, related installation or related software.”; and
by inserting, immediately after subsection (2), the following subsection:“(3) Every public parcel locker and related installation installed by the public parcel locker network operator remains the property of the public parcel locker network operator whether or not it has become in whole or in part a fixture.”.