Singapore legislation

Regulation 5A

of Insolvency, Restructuring and Dissolution (Simplified Debt Restructuring) Regulations 2021

Regulation 5A

General provisions for Restructuring Advisers

Amended byS 24/2026 wef 29/01/2026

Subregulation 1

For the purposes of section 72L(d) of the Act, the Restructuring Adviser must —

(a)

act as the chairperson of the meeting of the company and its creditors under section 72M of the Act;

(b)

at the meeting, ascertain the right to vote of any person wishing to vote at the meeting; and

(c)

at the meeting, admit or reject any claim of a creditor.

Subregulation 2

For the purposes of section 72L(e) of the Act, the report to be submitted by a Restructuring Adviser to the Official Receiver, after the completion by a company of, or the discharge of a company from, the simplified debt restructuring programme, must be in Form SDR-1 set out on the designated website, and contain the following information (as is relevant):

(a)

the company’s name and Unique Entity Number;

(b)

the Restructuring Adviser’s name;

(c)

the date of the company’s entry into the simplified debt restructuring programme and the date of its completion of or discharge from the programme;

(d)

a description of the company’s core business;

(e)

whether the Restructuring Adviser or the company had attempted to enter into a voluntary arrangement with one or more of its creditors prior to the company’s entry into the simplified debt restructuring programme;

(f)

the date of appointment of the Restructuring Adviser under section 72D(1) of the Act;

(g)

the Restructuring Adviser’s fees and expenses, including for the administration of the simplified debt restructuring programme;

(h)

the identities of the 3 creditors of the company who held the largest amounts of debt, and the total amount of the debts owed to each of them;

(i)

where a compromise or an arrangement was proposed to the company’s creditors —

(i)

the number of creditors who are bound by the proposed compromise or arrangement and the key particulars of debts as specified in Form SDR-1 which are the subject of the proposed compromise or arrangement;

(ii)

if the proposed compromise or arrangement involves the repayment of cash to creditors, how (if at all) such repayment is proposed to be funded under the proposed compromise or arrangement; and

(iii)

the proposed period between the date that the proposed compromise or arrangement becomes effective and the date of completion of the proposed compromise or arrangement or the final repayment of any instalment under the proposed compromise or arrangement (whichever is later);

(j)

where a creditors’ meeting was held to vote on a proposed compromise or arrangement —

(i)

the outcome of the creditors’ vote at the creditors’ meeting;

(ii)

the proposed payout rate to the creditors who are to be bound by the proposed compromise or arrangement; and

(iii)

the number of creditors who are not entitled to vote at the creditors’ meeting and the aggregate amount of the debts of the company held by those creditors;

(k)

where a compromise or an arrangement was approved by the company’s creditors —

(i)

the date of implementation of any debt repayment proposal under the approved compromise or arrangement;

(ii)

the final payout rate to the creditors under the approved compromise or arrangement; and

(iii)

the number of creditors who approved the approved compromise or arrangement;

(l)

if the company was discharged from the simplified debt restructuring programme without an approved compromise or arrangement, the reason for this.