Singapore legislation
Regulation 25
of Insolvency, Restructuring and Dissolution (Saving and Transitional Provisions) Regulations 2020
Regulation 25
Saving and transitional provisions for amendment of Finance Companies Act
Subregulation 1
Despite section 477(a) of the Act, section 44(2) of the Finance Companies Act (Cap. 108) as in force immediately before 30 July 2020 continues to apply to or in relation to any finance company that is wound up pursuant to —
an order for winding up of the company made under section 216(2)(f) of the Companies Act before that date;
an application for winding up made under section 253 of the Companies Act before that date; or
a voluntary winding up that commenced within the meaning of section 291(6) of the Companies Act before that date.
Subregulation 2
Despite section 477(b) of the Act, section 54(1) of the Finance Companies Act as in force immediately before 30 July 2020 continues to apply to or in relation to any finance company that is wound up pursuant to —
an order for winding up of the company made under section 216(2)(f) of the Companies Act before that date;
an application for winding up made under section 253 of the Companies Act before that date; or
a voluntary winding up that commenced within the meaning of section 291(6) of the Companies Act before that date.
Subregulation 3
Despite section 477(c) of the Act, section 55(1)(b) of the Finance Companies Act as in force immediately before 30 July 2020 continues to apply to or in relation to any finance company that is wound up pursuant to —
an order for winding up of the company made under section 216(2)(f) of the Companies Act before that date;
an application for winding up made under section 253 of the Companies Act before that date; or
a voluntary winding up that commenced within the meaning of section 291(6) of the Companies Act before that date.