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laws.sgby aturio
In forceUpdated to 1 Dec 2023
Contents

Schedules

Schedule 1

FIRST SCHEDULESections 2(1) and 44(1)Part 1EXCLUDED PERSONS1. An excluded person is —

(a)

any of the following persons, when acting in that capacity:

(i)

the Official Assignee;

(ii)

the Official Receiver;

(iii)

a licensed insolvency practitioner;

(iv)

a regulated legal practitioner;

(v)

a regulated non-practitioner;

(b)

a Joint Law Venture;

(c)

a licensed foreign law practice;

(d)

a Qualifying Foreign Law Practice;

(e)

a Singapore law practice;

(ea)

an accounting corporation;[S 723/2023 wef 01/12/2023]

(eb)

an accounting firm;[S 723/2023 wef 01/12/2023]

(ec)

an accounting limited liability partnership;[S 723/2023 wef 01/12/2023]

(ed)

a chartered accountant, when acting in that capacity;[S 723/2023 wef 01/12/2023]

(ee)

a public accountant, when acting in that capacity;[S 723/2023 wef 01/12/2023]

(f)

a person who purchases a debt or debts through acquiring or merging with a business (other than a debt collection business) in a transaction that includes the transfer of accounts receivable; or

(g)

a person who acquires a debt or debts through the seizure of accounts receivable under a security agreement.

2. In paragraph 1 —“accounting corporation”, “accounting firm”, “accounting limited liability partnership” and “public accountant” have the meanings given by section 2(1) of the Accountants Act 2004;[S 723/2023 wef 01/12/2023]“chartered accountant” has the meaning given by section 2(1) of the Accounting and Corporate Regulatory Authority Act 2004;[S 723/2023 wef 01/12/2023]“Joint Law Venture”, “licensed foreign law practice”, “Qualifying Foreign Law Practice”, “regulated legal practitioner”, “regulated non‑practitioner” and “Singapore law practice” have the meanings given by section 2(1) of the Legal Profession Act 1966;“licensed insolvency practitioner”, “Official Assignee” and “Official Receiver” have the meanings given by section 2(1) of the Insolvency, Restructuring and Dissolution Act 2018.Part 2REGULATED BUSINESSES1. A regulated business is any of the following:

(a)

a banking business conducted by a bank;

(b)

a permitted business conducted by a merchant bank;

(c)

a business of issuing credit cards or charge cards conducted by a licensed credit card or charge card issuer;

(d)

a financing business conducted by a finance company;

(e)

a business of moneylending conducted by a licensed moneylender or an exempt moneylender.

2. In paragraph 1 —“bank”, “banking business” and “merchant bank” have the meanings given by section 2(1) of the Banking Act 1970;“credit card” and “charge card” have the meanings given by section 56 of the Banking Act 1970;“exempt moneylender” has the meaning given by section 2 of the Moneylenders Act 2008;“finance company” and “financing business” have the meanings given by section 2 of the Finance Companies Act 1967;“licensed credit card or charge card issuer” means a person who is granted a licence to carry on the business of issuing credit cards or charge cards in Singapore under section 57B of the Banking Act 1970;“licensed moneylender” means a holder of a licence issued or renewed under the Moneylenders Act 2008;“permitted business” has the meaning given by section 55Q of the Banking Act 1970.

Report

Read on from Sch 2