Singapore legislation

Regulation 122

of Insolvency, Restructuring and Dissolution (Corporate Insolvency and Restructuring) Rules 2020

Regulation 122

Application to Court for permission to make call

Amended byS 195/2022 wef 01/04/2022S 195/2022 wef 01/04/2022S 195/2022 wef 01/04/2022

Subregulation 1

Amended byS 195/2022 wef 01/04/2022

An application to the Court by a liquidator for permission to make any call for a purpose authorised by the Act (called in this rule the intended call) —

(a)

must be made by summons in Form CIR-40;

(b)

must state the amount of the intended call;

(c)

must contain a statement of the amount claimed as due from each contributory;

(d)

must be supported by an affidavit in Form CIR-41; and

(e)

subject to paragraph (2), must be served on every contributory proposed to be included in the intended call at least 7 days before the day appointed for the hearing of the application.

Subregulation 2

The Court may direct that notice of the intended call in Form CIR-42 be given by advertisement without the summons being separately served on each contributory proposed to be included in the intended call.

Subregulation 3

Amended byS 195/2022 wef 01/04/2022

Upon the hearing of the summons, the Court —

(a)

may grant permission to the liquidator to make the call; and

(b)

may also order in Form CIR-43 the payment by the contributories respectively of the amounts due in respect of the call within a time to be specified in the order.