Clause 75
Restrictions on voluntary winding up
of Civil Aviation Authority of Singapore Bill
BillNot in forceProvision 85 of 109
Clause 75
(1)
Notwithstanding the provisions of any other written law, where a company is an airport licensee —
(a)
the company shall not be wound up voluntarily without the consent of the Authority;
(b)
no judicial management order under the Companies Act (Cap. 50) shall be made in relation to the company; and
(c)
no step shall be taken by any person to enforce any security over the company’s property except where that person has served 14 days’ notice of his intention to take that step on the Authority.
(2)
The Authority shall be a party to any proceedings under the Companies Act relating to the winding up of the affairs of a company which is an airport licensee.