Singapore legislation

Regulation 4

of Insolvency, Restructuring and Dissolution (Electronic Meeting and Resolution by Correspondence) Regulations 2020

Regulation 4

Procedure for requests for place for meeting to be specified

Subregulation 1

Where a proposed virtual meeting has been summoned, called or convened, a creditor, contributory or member (as the case may be) may request the convener in writing no later than 5 days after the date of the notice mentioned in regulation 3(2)(b), to specify a place for the meeting.

Subregulation 2

It is the convener’s responsibility to check whether any request for a place for the meeting to be specified is submitted before the deadline and if so whether in aggregate it meets or surpasses one of the thresholds under section 445(8)(c) of the Act requiring the convener to specify a place for the meeting.

Subregulation 3

Where the prescribed threshold of creditors or contributories or members under section 445(8)(c)(i) or (ii) of the Act is met, the convener must —

(a)

not later than 3 days after the expiry of the time specified in regulation 3(2)(b), deliver a notice to all persons who were given notice of the meeting —

(i)

to inform the persons that the meeting will be held at a specified place; and

(ii)

stating whether the convener will be permitting any creditor, contributory or member (as the case may be) to attend the meeting remotely; and

(b)

give at least 7 days’ notice of the specified place for the meeting to all those previously given notice of the meeting.

Subregulation 4

Where the convener has specified a place for the meeting under this regulation, the chairperson of the meeting must attend the meeting physically at that place.