Finance Companies Act 1967 · 2020 Revised Edition · Part 8 · Miscellaneous
54. Winding up provisions
Feedback & supportLast amended by an amending law of 2022. 3 amendments in all.
Without affecting the provisions of the Insolvency, Restructuring and Dissolution Act 2018 and Part 8 of the Financial Services and Markets Act 2022 —
a company (whether or not it is being wound up voluntarily) may be wound up under an order of the court on the application of the Authority; and
the court may order the winding up of a company if —
the company has held a licence under this Act and that licence has expired or has been revoked; or
the company has carried on financing business in Singapore in contravention of the provisions of this Act.
In the winding up of a company that has been carrying on financing business, the depositors are deemed to be holders of debentures issued to them by the company and secured by a floating charge over all the property and undertaking of the company.
company
“company” means a company incorporated or registered under the Companies Act 1967 or pursuant to any corresponding previous written law;