Singapore legislation
Regulation 23
of Insolvency, Restructuring and Dissolution (Bankruptcy) Regulations 2020
Regulation 23
Quorum
Subregulation 1
Unless the quorum is formed at a meeting of creditors, the meeting is competent to act only for the following purposes:
(a)
the appointment of a chairperson;
(b)
the admission by the chairperson of creditors’ proofs of debt, for the purpose of their entitlement to vote; (c)the adjournment of the meeting.
Subregulation 2
The quorum for a meeting of creditors is the following number of creditors present in person or by proxy, being persons entitled to vote at the meeting: (a)if the number of creditors of the bankrupt in question exceeds 3 creditors — 3 creditors; (b)if the number of creditors of the bankrupt in question does not exceed 3 creditors — all the creditors.