Singapore legislation
Clause 21
Clause 21
New sections 62A and 62B
In the CAAS Act, in Part 5, in Division 2 (as renumbered by section 20), after section 62, insert —“Restrictions on voluntary winding up, etc., of airport licensees and designated business trusts62A.—
Despite any other written law —
an airport licensee cannot be wound up voluntarily without the consent of the Authority;
a person must not make any application under section 210 of the Companies Act 1967 or section 71 of the Insolvency, Restructuring and Dissolution Act 2018 in relation to an airport licensee, unless that person has served 14 days’ notice in writing of that person’s intention to make that application on the Authority;
no judicial management order under Part 7 of the Insolvency, Restructuring and Dissolution Act 2018 may be made in relation to an airport licensee without the consent of the Authority;
no interim judicial manager or judicial manager may be appointed under section 94 of the Insolvency, Restructuring and Dissolution Act 2018 in respect of an airport licensee without the consent of the Authority;
a designated business trust cannot be wound up voluntarily without the consent of the Authority;
a person must not take any step to enforce any security over —
the property of an airport licensee; or
the trust property of a designated business trust,unless that person has served 14 days’ notice in writing of that person’s intention to take that step on the Authority; and
a person must not take any step to execute or enforce any judgment or order of court obtained against an airport licensee or a designated business trust unless that person has served 14 days’ notice in writing of that person’s intention to take that step on the Authority.(2) The Authority must be a party to —
any proceedings relating to the making of an order under section 210 of the Companies Act 1967 or section 71 of the Insolvency, Restructuring and Dissolution Act 2018 in relation to an airport licensee;
any proceedings relating to the making of a judicial management order under Part 7 of the Insolvency, Restructuring and Dissolution Act 2018 in relation to an airport licensee;
any proceedings under the Insolvency, Restructuring and Dissolution Act 2018 relating to the winding up of the affairs of an airport licensee; and
any proceedings before any court for the dissolution, winding up or termination (as the case may be) of a designated business trust.(3) A court must, when deciding any proceedings mentioned in subsection (2), take into consideration any representations made by the Authority in those proceedings.Non-application and modification of Division 2 provisions in relation to Class 1 designated operating entities62B.—
Sections 57, 59, 60(1)(b) and (2), 61(2) and 62A do not apply to or in relation to any airport licensee or designated business trust that is also a Class 1 designated operating entity, starting on its effective designation date and while it remains so designated.(2) Section 58 applies to or in relation to an airport licensee or a designated business trust that is also a Class 1 designated operating entity with the following modifications, starting on its effective designation date and while it remains so designated:
the reference in section 58(1)(a) to the business of an airport licensee (or any part thereof) conducted pursuant to its licence for an airport is to such business (or any part thereof) of the airport licensee where the operation of the airport is not an essential transport service;
the reference in section 58(1)(b) to the business (or any part thereof) of a designated business trust relating to an airport or any part thereof in respect of which, wholly or in part, the business trust is established is to such business (or any part thereof) where the operation of the airport is not an essential transport service.(3) Section 60 applies to or in relation to an airport licensee or a designated business trust that is also a Class 1 designated operating entity with the following modifications, starting on its effective designation date and while it remains so designated:
the reference in section 60(1)(a) to section 57(1) or 58(1) is to section 58(1) as modified by subsection (2);
the reference in section 60(1)(c) and (3) to a business mentioned in section 58(1) is to a business mentioned in section 58(1) as modified by subsection (2).”.