Singapore legislation
Regulation 8
of Insolvency, Restructuring and Dissolution (Judicial Management) Regulations 2020
Regulation 8
Quorum
Subregulation 1
At the pre‑appointment meeting of creditors, the creditors may not act for any purpose unless there are present (either in person or by proxy) at the meeting —
at least 3 creditors entitled to vote; or
all the creditors entitled to vote if the number of the creditors entitled to vote does not exceed 3.
Subregulation 2
Paragraph (1) does not apply to the appointment by the creditors of a chairperson, the proving of debts and the adjournment of the meeting.
Subregulation 3
If after half an hour from the time appointed for the pre‑appointment meeting of creditors, a quorum of creditors is not present (either in person or by proxy), the meeting must be adjourned —
in a case where no chairperson is appointed — to the same day in the following week at the same time and place; or
in a case where a chairperson is appointed — to another day that the chairperson may appoint (which is not less than 5 days and not more than 10 days after the day from which the meeting was adjourned) and at a time and place that the chairperson may determine.
Subregulation 4
If after half an hour from the time appointed for the adjourned meeting, a quorum of creditors is not present (either in person or by proxy), the adjourned meeting must be adjourned —
in a case where no chairperson is appointed — to another day and at a time and place that the interim judicial manager may determine; or
in a case where a chairperson is appointed — to another day and at a time and place that the chairperson may determine.
Subregulation 5
Where a chairperson is appointed for a meeting mentioned in paragraph (3) or (4), the chairperson must issue to the creditors —
in a case mentioned in paragraph (3)(b) — a notice of adjournment of the pre‑appointment meeting of creditors in accordance with Form JM‑3; or (b)in a case mentioned in paragraph (4)(b) — a notice of proceedings at an adjourned pre‑appointment meeting of creditors in accordance with Form JM‑4.
Subregulation 6
Where no chairperson is appointed for a meeting mentioned in paragraph (3) or (4), the interim judicial manager must issue to the creditors —
in a case mentioned in paragraph (3)(a) — a notice of adjournment of the pre‑appointment meeting of creditors in accordance with Form JM‑3; or
in a case mentioned in paragraph (4)(a) — a notice of proceedings at an adjourned pre‑appointment meeting of creditors in accordance with Form JM‑4.
Subregulation 7
The list of creditors assembled to be used at every meeting must be in accordance with Form JM‑5.