Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 5A · Simplified Restructuring of Debts
72Q. Discharge from simplified debt restructuring programme
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Subject to this section, a company (in simplified debt restructuring) is discharged from the simplified debt restructuring programme at the expiry of its moratorium period.
company (in simplified debt restructuring)
“company (in simplified debt restructuring)” means a company that is accepted by the Official Receiver into the simplified debt restructuring programme under section 72G, and that has not been discharged from the simplified debt restructuring programme under section 72Q;
A company (in simplified debt restructuring) or the Restructuring Adviser may apply to the Official Receiver for an extension of the moratorium period, in the prescribed form and manner, to defer its discharge from the simplified debt restructuring programme, but only if the application is accompanied by evidence of consent of at least two-thirds in total value of the creditors.
Official Receiver
“Official Receiver” means the Official Receiver appointed under section 17(1) and includes a Deputy Official Receiver, a Senior Assistant Official Receiver and an Assistant Official Receiver;
On an application under subsection (2), the Official Receiver may —
extend the moratorium period —
for such number of days as may be prescribed by regulations made under section 72V after the expiry of the moratorium period;
only once; and
only before the expiry of the moratorium period; or
decline to extend the moratorium period.
The Official Receiver’s decision under subsection (3) is final.
Where an extension is granted by the Official Receiver under subsection (3), the company (in simplified debt restructuring) is discharged from the simplified debt restructuring programme at the expiry of the moratorium period and the period of the extension.
simplified debt restructuring programme
“simplified debt restructuring programme” means the programme established in section 72C;
Where the compromise or arrangement provided by any debt restructuring proposal becomes effective under section 72M(16) before the expiry of the moratorium period (including any period of extension), the company is discharged from the simplified debt restructuring programme on the day the compromise or arrangement becomes effective.
debt
“debt” means any debt, or any liability to pay money, that is unsecured, present, certain, and of an amount that is fixed or liquidated;
[Deleted by Act 3 of 2025 wef 29/01/2026]
[Deleted by Act 3 of 2025 wef 29/01/2026]
[Deleted by Act 3 of 2025 wef 29/01/2026]
Notice of every discharge under this section must be published by the Restructuring Adviser on the designated website.
designated website
“designated website” means the Internet website prescribed by regulations made under section 72V for the purpose of publishing notices to creditors and other persons under this Part;