Singapore legislation
Regulation 99
Regulation 99
Mode of payments out of Limited Liability Partnerships Liquidation Account
Subregulation 1
All payments out of the Limited Liability Partnerships Liquidation Account shall be made by the Official Receiver.
Subregulation 2
All necessary disbursements made by a liquidator on account of an LLP which is being wound up by the Court to the date of his application for release shall be repaid to him out of any moneys standing to the credit of the LLP in the Limited Liability Partnerships Liquidation Account on application to the Official Receiver.
Subregulation 3
After the liquidator has declared a dividend he may apply to the Official Receiver for funds available for the purpose standing to the credit of the LLP in the Limited Liability Partnerships Liquidation Account, the application to be supported by a certified list of creditors showing the amounts of their proofs and the moneys they are due to receive by way of dividend.
Subregulation 4
The Official Receiver shall in no case be held liable for any payments made on the requisition of a liquidator.