Singapore legislation

Clause 23

of Insolvency, Restructuring and Dissolution (Amendment) Bill

Clause 23

Amendment of section 72V

In the principal Act, in section 72V(2) —

(a)

in paragraph (c), replace “, for making an application to the Official Receiver to be accepted into the simplified debt restructuring programme, or for making an objection to such an application” with “to a Restructuring Adviser, in connection with the entry into the simplified debt restructuring programme and remaining on the programme”;

(b)

in paragraph (d), replace “by a company or an officer or a contributory of a company to the Official Receiver or a” with “to a”;

(c)

delete paragraph (e);

(d)

in paragraph (f), delete “and” at the end; and

(e)

replace paragraph (g) with —“(g)the moratorium period, and the period of extension under section 72Q(3)(a); and

(h)

the form of, and the information to be contained in, reports that must be submitted by a Restructuring Adviser to the Official Receiver after the completion of or discharge of a company from the simplified debt restructuring programme.”.