Singapore legislation

Regulation 5

of Insolvency, Restructuring and Dissolution (Prescribed Companies and Entities) Order 2020

Regulation 5

Prescribed entities under Article 1(2) of Third Schedule to Act

Amended byS 247/2023 wef 31/12/2021S 411/2021 wef 01/07/2021S 247/2023 wef 31/12/2021S 247/2023 wef 28/04/2023S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 28/04/2023S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 31/12/2021S 247/2023 wef 28/04/2023

Subregulation 1

The following corporations are prescribed for the purposes of Article 1(2) of the Third Schedule to, read with section 252(1) of, the Act:

(a)

a banking corporation;

(b)

a corporation licensed under section 57B of the Banking Act 1970 to carry on the business of issuing credit cards or charge cards in Singapore;

(c)

a corporation that —

(i)

is a financial institution approved under, or treated as approved, under section 4 of the Financial Services and Markets Act 2022; or

(ii)

holds a merchant bank licence, or is treated as having been granted a merchant bank licence, under the Banking Act 1970; (d)a finance company licensed under section 6 of the Finance Companies Act 1967;

(e)

a corporation that holds a licence under section 6 of the Payment Services Act 2019 to carry on a business of providing any type of payment service;

(f)

a corporation that is the operator of a payment system that is designated as a designated payment system under section 42 of the Payment Services Act 2019;

(g)

an authorised reinsurer as defined in section 2 of the Insurance Act 1966;

(h)

a licensed insurer licensed under section 11 of the Insurance Act 1966;

(i)

an insurance broker registered under section 76 of the Insurance Act 1966;

(j)

an approved insurance broker as defined in regulation 2(1) of the Insurance (Approved Marine, Aviation and Transit Insurance Brokers and Approved Reinsurance Brokers) Regulations (Rg 14);

(k)

the administrator as defined in regulation 2 of the Insurance (Lloyd’s Scheme) Regulations (Rg 8);

(l)

a member of Lloyd’s that is permitted to carry on general class of insurance business in accordance with regulation 3 of the Insurance (Lloyd’s Scheme) Regulations, or any insurance business specified in the First Schedule to the Insurance (Lloyd’s Asia Scheme) Regulations (Rg 9) in accordance with regulation 3 of the Insurance (Lloyd’s Asia Scheme) Regulations;

(m)

a Service Company as defined in regulation 2 of the Insurance (Lloyd’s Asia Scheme) Regulations;

(n)

an approved MAT insurer as defined in regulation 2(1) of the Insurance (Approved Marine, Aviation and Transit Insurers) Regulations (Rg 15);

(o)

an approved clearing house as defined in section 2(1) of the Securities and Futures Act 2001;

(p)

an approved exchange as defined in section 2(1) of the Securities and Futures Act 2001;

(q)

an approved holding company as defined in section 2(1) of the Securities and Futures Act 2001;

(r)

an authorised benchmark administrator as defined in section 2(1) of the Securities and Futures Act 2001;

(s)

an authorised benchmark submitter as defined in section 2(1) of the Securities and Futures Act 2001;

(t)

a licensed foreign trade repository as defined in section 2(1) of the Securities and Futures Act 2001;

(u)

a licensed trade repository as defined in section 2(1) of the Securities and Futures Act 2001;

(v)

a recognised clearing house as defined in section 2(1) of the Securities and Futures Act 2001;

(w)

a recognised market operator as defined in section 2(1) of the Securities and Futures Act 2001;

(x)

the Depository as defined in section 81SF of the Securities and Futures Act 2001;

(y)

a holder of a capital markets services licence granted under section 86 of the Securities and Futures Act 2001;

(z)

a trustee for a collective investment scheme authorised under section 286 of the Securities and Futures Act 2001, that is approved under section 289 of that Act;

(za)[Deleted by S 634/2024 wef 01/08/2024](zb)a financial adviser licensed under section 10 of the Financial Advisers Act 2001;

(zc)a licensed trust company licensed under section 5 of the Trust Companies Act 2005;

(zd)a corporation that is the operator of a designated system designated under section 3 of the Payment and Settlement Systems (Finality and Netting) Act 2002;

(ze)a trustee‑manager of a business trust registered under the Business Trusts Act 2004;

(zf)any other corporation that is licensed, approved, authorised, designated, recognised or registered, or treated as licensed, approved, authorised, designated, recognised or registered, under the provisions of any of the following written laws:

(i)

the Banking Act 1970;

(ii)

the Business Trusts Act 2004;

(iii)

the Finance Companies Act 1967;

(iv)

the Financial Advisers Act 2001; (iva)the Financial Services and Markets Act 2022;

(v)

the Insurance Act 1966;

(vi)

[Deleted by S 247/2023 wef 28/04/2023](vii)the Payment and Settlement Systems (Finality and Netting) Act 2002;

(viii)

the Payment Services Act 2019;

(ix)

the Securities and Futures Act 2001;

(x)

the Trust Companies Act 2005.

Subregulation 2

In this paragraph, “member of Lloyd’s” has the meaning given by regulation 2 of the Insurance (Lloyd’s Scheme) Regulations.

Read in full context — Insolvency, Restructuring and Dissolution (Prescribed Companies and Entities) Order 2020 →