Singapore legislation
Regulation 12
of Insolvency, Restructuring and Dissolution (Voluntary Arrangements) Regulations 2020
Regulation 12
Chairperson of creditors’ meeting
Subregulation 1
The nominee appointed under a proposal is, by default, the chairperson of the creditors’ meeting to consider the proposal.
Subregulation 2
The chairperson of a creditors’ meeting must not, by virtue of any proxy held by the chairperson, vote to increase or decrease the amount of the remuneration or expenses of the nominee in question or the expenses relating to the supervision of the voluntary arrangement in question, unless the proxy specifically directs the chairperson to so vote.