25. Consequences upon order of Minister under section 24
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Upon the making of an order of dissolution against any society under section 24 —
society
“society” includes any club, company, partnership or association of 10 or more persons, whatever its nature or object, but does not include —(a)any company registered under any written law relating to companies for the time being in force in Singapore;(b)any company or association constituted under any written law;(c)any limited liability partnership registered under the Limited Liability Partnerships Act 2005;(d)any trade union registered or required to be registered under any written law relating to trade unions for the time being in force in Singapore;(e)any cooperative society registered as such under any written law;(f)any mutual benefit organisation registered as such under any written law relating to mutual benefit organisations for the time being in force in Singapore;(g)any company, association or partnership, consisting of not more than 20 persons, formed for the sole purpose of carrying on any lawful business that has for its object the acquisition of gain by the company, association or partnership, or the individual members thereof;(h)any class, society or association of foreign insurers carrying on insurance business in Singapore under any foreign insurer scheme established under Part 2A of the Insurance Act 1966; or(i)any school or management committee of a school constituted under any law regulating schools for the time being in force in Singapore.
the property of the society shall forthwith vest either in the Official Receiver or, if any other officer is appointed for the purpose of winding up by the Minister in the notification of the order, then in that officer; and
the Official Receiver or that other officer shall proceed to wind up the affairs of the society and, after satisfying and providing for all debts and liabilities of the society and the costs of winding up, shall pay the surplus assets, if any, of the society —
where the Minister so directs, into the Consolidated Fund; and
in the absence of a direction by the Minister, to the members of the society according to the rules of the society.
For the purposes of the winding up of the affairs of the society, the Official Receiver or that other officer shall have all the powers vested in the Official Receiver under the Insolvency, Restructuring and Dissolution Act 2018 for the purpose of the discovery and realisation of the property of a debtor, and the provisions of that Act shall apply, with the necessary modifications, to the winding up of the affairs of the society under this Act.
officer
“officer” means the president, the secretary and members of the committee of a society and includes persons holding positions analogous to those of president, secretary or member of a committee;
The Minister may, for the purpose of enabling a society to wind up its own affairs, suspend the operation of this section for such period as to him seems expedient.