Singapore legislation
Clause 48
of Insolvency, Restructuring and Dissolution (Amendment) Bill
Clause 48
Saving and transitional provisions
(1)
Despite sections 2 to 25, Part 5A of the principal Act as in force immediately before the date of commencement of sections 2 to 25 continues to apply in relation to a company that has applied to the Official Receiver for acceptance into, or is accepted by the Official Receiver into, the simplified debt restructuring programme before that date and that has not been discharged from the programme, and section 440 of the principal Act as amended by section 46 does not apply in relation to that company.
(2)
Despite sections 26 to 45, Part 10A of the principal Act as in force immediately before the date of commencement of sections 26 to 45 continues to apply in relation to a company that has applied to the Official Receiver for acceptance into, or has been accepted by the Official Receiver into, the simplified winding up programme by the Official Receiver, before that date and that has not been discharged from the programme.
(3)
For a period of 2 years after the date of commencement of any provision of this Act, the Minister may, by regulations, prescribe any additional provisions of a saving or transitional nature consequent on the enactment of that provision that the Minister may consider necessary or expedient.