Regulation 1
Citation and commencement
This Order is the Insolvency, Restructuring and Dissolution (Prescribed Criteria and Circumstances under Sections 72F and 250F) Order 2021 and comes into operation on 29 January 2021.
/akn/sg/act/sub_leg/2018/IRDA-S52-2021
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Quick answer
Insolvency, Restructuring and Dissolution (Prescribed Criteria and Circumstances under Sections 72F and 250F) Order 2021 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation IRDA-S52-2021 2018, currently marked in force and first recorded in 2018.
Citation and commencement
This Order is the Insolvency, Restructuring and Dissolution (Prescribed Criteria and Circumstances under Sections 72F and 250F) Order 2021 and comes into operation on 29 January 2021.
Prescribed criterion under section 72F(2)(e) of Act
For the purposes of section 72F(2)(e) of the Act, an additional eligibility criterion is that the company seeking to enter into the simplified debt restructuring programme is not a foreign company.
Prescribed circumstance under section 72F(3)(l) of Act
For the purposes of section 72F(3)(l) of the Act, the circumstance mentioned in sub‑paragraph (2) is also a circumstance that makes a company unsuitable for entry into the simplified debt restructuring programme.
The circumstance is that a declaration or an injunction has been made or granted by the District Court or the General Division of the High Court against the company under section 9(1)(a) or (b) of the Consumer Protection (Fair Trading) Act (Cap. 52A).
Prescribed criterion under section 250F(2)(f) of Act
For the purposes of section 250F(2)(f) of the Act, an additional eligibility criterion is that the company seeking to enter into the simplified winding up programme is not a foreign company.
Prescribed circumstance under section 250F(3)(m) of Act
For the purposes of section 250F(3)(m) of the Act, the circumstance mentioned in sub‑paragraph (2) is also a circumstance that makes a company unsuitable for entry into the simplified winding up programme.
The circumstance is that a declaration or an injunction has been made or granted by the District Court or the General Division of the High Court against the company under section 9(1)(a) or (b) of the Consumer Protection (Fair Trading) Act.