Singapore legislation
Regulation 171
of Insolvency, Restructuring and Dissolution (Corporate Insolvency and Restructuring) Rules 2020
Regulation 171
Definitions of this Part
Subregulation 1
In this Part, unless the context otherwise requires —
Definition
“approving body” means —
in relation to a company in judicial management — the committee of creditors, if any; or
in relation to a company in insolvent winding up — the committee of inspection (if any) or the creditors of the company;
Definition
“company” means any corporation liable to be wound up under the Act;
Definition
“liquidator”, in relation to a company, means a person —
appointed by the Court as the liquidator of the company under section 134 of the Act; or
nominated by the company or its creditors, or directed by the Court, under section 167 of the Act to be the liquidator of the company;
Definition
“officeholder”, in relation to a company, means a judicial manager or liquidator of the company;
Definition
“remuneration” includes salary.
Subregulation 2
For the purposes of this Part —
a company “enters judicial management” or is “in judicial management” within the meanings given to those terms in section 88(2)(a) to (e) of the Act; and
the date of commencement of the winding up of a company is —
in the case of a company being wound up by the Court — the day on which the order for the winding up of the company is made by the Court under section 124 of the Act; or
in the case of a company in voluntary winding up — to be determined in accordance with section 161(6) of the Act.
Subregulation 3
In this Part, unless the context otherwise requires, a reference to a judicial manager or a liquidator includes a reference to a person who has ceased to be a judicial manager or a person who has ceased to be a liquidator, as the case may be.