Singapore legislation
Regulation 30
of Insolvency, Restructuring and Dissolution (Saving and Transitional Provisions) Regulations 2020
Regulation 30
Saving and transitional provisions for amendment of Insurance Act
Subregulation 1
Despite section 483(b) of the Act —
section 49FO(15) of the Insurance Act (Cap. 142) as in force immediately before 30 July 2020 continues to apply to or in relation to any proceedings for the winding up of the affairs of a licensed insurer or registered insurance broker arising from —
an order for winding up of a 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;
an application made before that date for the winding up of an unregistered company under section 351 of the Companies Act;
a voluntary winding up that commenced within the meaning of section 291(6) of the Companies Act before that date; or
a notice of commencement of liquidation or dissolution proceedings in its place of incorporation or origin that was lodged under section 377(2)(a) of the Companies Act before that date; and
section 49FO(16) of the Insurance Act as in force immediately before 30 July 2020 continues to apply to or in relation to any proceedings for the winding up of the affairs of a licensed insurer arising from —
an order for winding up of a 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;
an application made before that date for the winding up of an unregistered company under section 351 of the Companies Act;
a voluntary winding up that commenced within the meaning of section 291(6) of the Companies Act before that date; or
a notice of commencement of liquidation or dissolution proceedings in its place of incorporation or origin that was lodged under section 377(2)(a) of the Companies Act before that date.
Subregulation 2
Despite section 483(b) and (h) of the Act, section 49FP(1) of the Insurance Act as in force immediately before 30 July 2020 continues to apply to or in relation to any licensed insurer that is wound up pursuant to —
an order for winding up of a 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;
an application made before that date for the winding up of an unregistered company under section 351 of the Companies Act;
a voluntary winding up that commenced within the meaning of section 291(6) of the Companies Act before that date; or
an application for winding up arising from a notice of commencement of liquidation or dissolution proceedings in its place of incorporation or origin that was lodged under section 377(2)(a) of the Companies Act before that date.
Subregulation 3
Despite section 483(e) of the Act, section 49FO(19) of the Insurance Act as in force immediately before 30 July 2020 continues to apply to or in relation to any licensed insurer that is wound up pursuant to —
an order for winding up of a 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;
an application made before that date for the winding up of an unregistered company under section 351 of the Companies Act;
a voluntary winding up that commenced within the meaning of section 291(6) of the Companies Act before that date; or
an application for winding up arising from a notice of commencement of liquidation or dissolution proceedings in its place of incorporation or origin that was lodged under section 377(2)(a) of the Companies Act before that date.
Subregulation 4
Despite section 483(i) of the Act, section 49FP(6) of the Insurance Act as in force immediately before 30 July 2020 continues to apply to or in relation to the winding up of the affairs of an insurer under an order under section 49FP(2) of the Insurance Act that is made pursuant to —
an application for winding up made under section 253 of the Companies Act before that date;
an application made before that date for the winding up of an unregistered company under section 351 of the Companies Act; or
an application for winding up arising from a notice of commencement of liquidation or dissolution proceedings in its place of incorporation or origin that was lodged under section 377(2)(a) of the Companies Act before that date.
Subregulation 5
Despite section 483(j), (k) and (l) of the Act, section 49FQ of the Insurance Act as in force immediately before 30 July 2020 continues to apply to or in relation to the winding up of any co‑operative society which is a licensed insurer pursuant to an application made before that date for the winding up of an unregistered company under section 351 of the Companies Act.
Subregulation 6
Despite section 483(m) of the Act, section 49FR(2) of the Insurance Act as in force immediately before 30 July 2020 continues to apply to or in relation to the winding up of any licensed insurer pursuant to —
an order for winding up of a 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;
an application made before that date for the winding up of an unregistered company under section 351 of the Companies Act;
a voluntary winding up that commenced within the meaning of section 291(6) of the Companies Act before that date; or
an application for winding up arising from a notice of commencement of liquidation or dissolution proceedings in its place of incorporation or origin that was lodged under section 377(2)(a) of the Companies Act before that date.