Insolvency, Restructuring and Dissolution Act 2018 (2024)

PART 24

CONSEQUENTIAL AND RELATED AMENDMENTS
TO OTHER ACTS

Division 1 — Companies Act

Amendment of Companies Act

451.—(1)Section 3 of the Companies Act (Cap.50, 2006Ed.) is amended by deleting subsection(4).
(2)Section 4 of the Companies Act is amended—
(a)by deleting the definitions of “approved liquidator”, “creditors’ voluntary winding up”, “members’ voluntary winding up” and “resolution for voluntary winding up” in subsection(1);
(b)by inserting, immediately after the definition of “chief executive officer” in subsection(1), the following definition:
““commencement of winding up” —
(a)in a winding up by the Court, has the meaning given by section126 of the Insolvency, Restructuring and Dissolution Act2018; and
(b)in a voluntary winding up, has the meaning given by section161(6) of the Insolvency, Restructuring and Dissolution Act2018;”;
(c)by deleting paragraph(g) of the definition of “officer” in subsection(1) and substituting the following paragraph:
“(g)a judicial manager appointed under Part7 of the Insolvency, Restructuring and Dissolution Act2018;”;
(d)by deleting the definition of “Official Receiver” in subsection(1) and substituting the following definitions:

““Official Assignee” means the Official Assignee appointed under section16(1) of the Insolvency, Restructuring and Dissolution Act2018 and includes a Deputy Official Assignee, a Senior Assistant Official Assignee and an Assistant Official Assignee;

“Official Receiver” means the Official Receiver appointed under section17(1) of the Insolvency, Restructuring and Dissolution Act2018 and includes a Deputy Official Receiver, a Senior Assistant Official Receiver and an Assistant Official Receiver;”;

(e)by deleting the words “,section254(1)(f), 286, 287 or” in subsection(8) and substituting the words “orsection”; and
(f)by deleting “9(6),” in subsection (12).

(3)Sections 9 and 11 of the Companies Act are repealed.

(4)Section 13(1) of the Companies Act is amended—
(a)by inserting, immediately after the word “law” in paragraph(a), the words “(other than the Insolvency, Restructuring and Dissolution Act2018)”; and
(b)by deleting the words “or the Official Receiver” wherever they appear.

(5)Section 21(6G) of the Companies Act is amended by deleting the words “,232(1)(a)(i) and 268(4)” and substituting the words “and232(1)(a)(i)”.

(6)Section 27(1A) of the Companies Act is amended by deleting the words “PartX” in paragraph(a)(i) and substituting the words “the Insolvency, Restructuring and Dissolution Act2018”.

(7)Section 42A(2) of the Companies Act is amended by deleting the words “section 254(1)(m)” and substituting the words “section125(1)(n) of the Insolvency, Restructuring and Dissolution Act2018”.

(8)Section 64(4) of the Companies Act is amended by deleting the words “section290” in paragraph(a) and substituting the words “section160 of the Insolvency, Restructuring and Dissolution Act2018”.

(9)Section 76(8) of the Companies Act is amended—
(a)by deleting the words “section306” in paragraph(e) and substituting the words “section178 of the Insolvency, Restructuring and Dissolution Act2018”; and
(b)by deleting the words “section309” in paragraph(f) and substituting the words “section187 of the Insolvency, Restructuring and Dissolution Act2018”.

(10)Section91(9) of the Companies Act is amended by deleting the words “Section347” and substituting the words “Section214 of the Insolvency, Restructuring and Dissolution Act2018”.

(11)Section 149 of the Companies Act is amended—
(a)by deleting the words “section291(1)” in subsection(5)(a)(ii) and substituting the words “section161(1) of the Insolvency, Restructuring and Dissolution Act2018”;
(b)by deleting the words “section254(2)” in subsection(5)(b) and substituting the words “section125(2) of the Insolvency, Restructuring and Dissolution Act2018”;
(c)by deleting the words “section 259” in subsection(6)(b)(iii) and substituting the words “section130(1) of the Insolvency, Restructuring and Dissolution Act2018”; and
(d)by deleting the words “Division 5 of PartX” in subsection(8) and substituting the words “Division1 of Part10 of the Insolvency, Restructuring and Dissolution Act2018”.

(12)Section 149A(1) of the Companies Act is amended by deleting the words “section254(1)(m)” and substituting the words “section125(1)(n) of the Insolvency, Restructuring and Dissolution Act2018”.

(13)Section 154 of the Companies Act is amended by deleting subsection(2) and substituting the following subsection:
“(2)The court may, in addition to any other sentence imposed, make a disqualification order against any person who is convicted in Singapore of any of the following offences:
(a)any offence in connection with the formation or management of a corporation;
(b)any offence under section 157 or 396B;
(c)any offence under section 237 or 239 of the Insolvency, Restructuring and Dissolution Act2018.”.

(14)Section 155(11) of the Companies Act is amended by deleting the words “section350(1)” and substituting the words “section245(1) of the Insolvency, Restructuring and Dissolution Act2018”.

(15)Section 210 of the Companies Act is amended —
(a)by deleting subsections (3A) and (4A);
(b)by deleting the words “Subject to subsection(4A), the” in subsection(4) and substituting the word “The”;
(c)by deleting the words “section322” in subsection(10B)(a) and (b) and substituting in each case the words “section197 of the Insolvency, Restructuring and Dissolution Act2018”; and
(d)by deleting the words “this Act” in the definition of “company” in subsection(11) and substituting the words “the Insolvency, Restructuring and Dissolution Act2018”.

(16)Sections 211A to 211J of the Companies Act are repealed.

(17)Section 212 of the Companies Act is amended—
(a)by inserting, immediately after the words “under this Part” in subsection(1), the words “or section71 of the Insolvency, Restructuring and Dissolution Act2018”;
(b)by deleting the words “,subject to subsection(1A),” in subsection(1);
(c)by deleting subsection(1A); and
(d)by deleting the words “this Act” in subsection(6) and substituting the words “the Insolvency, Restructuring and Dissolution Act2018”.

(18)Section 215(7) of the Companies Act is amended by deleting the words “section322” in paragraphs(a) and (b) and substituting in each case the words “section197 of the Insolvency, Restructuring and Dissolution Act2018”.

(19)Section 215K(2) of the Companies Act is amended by deleting the words “section322” in paragraphs(a) and (b) and substituting in each case the words “section197 of the Insolvency, Restructuring and Dissolution Act2018”.

(20)Section216(3) of the Companies Act is amended by deleting the words “this Act” and substituting the words “theInsolvency, Restructuring and Dissolution Act2018”.

(21)Part VIII (sections 217 to 227) of the CompaniesAct is repealed.

(22)Part VIIIA (sections 227AA to 227X) of the CompaniesAct is repealed.

(23)Section 231(8) of the Companies Act is amended by deleting the words “section328(1)(a)” and substituting the words “section203(1)(a) of the Insolvency, Restructuring and Dissolution Act2018”.

(24)Section 241(1) of the Companies Act is amended by deleting the words “thisAct” and substituting the words “the Insolvency, Restructuring and Dissolution Act2018”.

(25)Part X of the Companies Act is amended by deleting the Part heading and substituting the following Part heading:

“DISSOLUTION”.

(26)Division 1 of Part X (sections 247 to 252) of the CompaniesAct is repealed.

(27)Division 2 of Part X (sections 253 to 289) of the CompaniesAct is repealed.

(28)Division 3 of Part X (sections 290 to 312) of the CompaniesAct is repealed.

(29)Subdivisions (1) to (4) of Division 4 of Part X (sections313 to 342) (including Division 4heading) of the CompaniesAct are repealed.

(30)Part X of the Companies Act is amended by deleting Subdivision(5) heading of Division 4.

(31)Section 343 of the Companies Act is repealed.

(32)Section 344(3) of the Companies Act is amended by inserting, immediately after the words “Division2” in paragraph(c), the words “of Part8 of the Insolvency, Restructuring and Dissolution Act2018”.

(33)Sections 345 to 349 of the Companies Act are repealed.

(34)Division 5 of Part X (sections 350 to 354) of the CompaniesAct is repealed.

(35)Division 6 of Part X (sections 354A to 354C) of the CompaniesAct is repealed.

(36)Section 372(4) of the Companies Act is amended by deleting the words “or211I” and substituting the words “of this Act or section71 of the Insolvency, Restructuring and Dissolution Act2018”.

(37)Section 377 of the Companies Act is amended—
(a)by deleting subsection(2) and substituting the following subsection:
“(2)If a foreign company goes into liquidation or is dissolved in its place of incorporation or origin, each person who immediately before the commencement of the liquidation proceedings was an authorised representative must—
(a)within 14days after the commencement of the liquidation or the dissolution; or
(b)within such further time as the Registrar in special circ*mstances allows,

lodge or cause to be lodged with the Registrar notice of that fact and, when a liquidator is appointed, notice of such appointment.”; and

(b)by deleting subsections(3), (4), (4A), (7) and (14).

(38)Section 378(2) of the Companies Act is amended by deleting the words “PartX” in paragraph(a)(i) and substituting the words “Part8 of the Insolvency, Restructuring and Dissolution Act2018”.

(39)Section 389 of the Companies Act is amended by deleting the words “or under section285 or 286”.

(40)Section 390(3) of the Companies Act is amended by deleting the words “section322” and substituting the words “section197 of the Insolvency, Restructuring and Dissolution Act2018”.

(41)The Companies Act is amended by inserting, immediately after section396A, the following section:

“Liability where proper accounts not kept

396B.—(1)If, on an investigation under this Act, it is shown that proper books of account were not kept by the company throughout the shorter of—
(a)the period of 2 years immediately preceding the commencement of the investigation; or
(b)the period between the incorporation of the company and the commencement of the investigation,

every officer who is in default shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 or to imprisonment for a term not exceeding 12months.

(2)Where a person is charged with an offence under subsection(1), it is a defence for the person charged to prove that the person acted honestly and to show that, in the circ*mstances in which the business of the company was carried on, the default was excusable.

(3)For the purposes of this section, proper books of account are deemed not to have been kept in the case of a company—
(a)if there have not been kept such books or accounts as are necessary to exhibit and explain the transactions and financial position of the trade or business of the company, including books containing entries from day to day in sufficient detail of all cash received and cash paid, and, where the trade or business has involved dealings in goods, statements of the annual stocktakings and (except in the case of goods sold by way of ordinary retail trade) of all goods sold and purchased, showing the goods and the buyers and sellers of the goods in sufficient detail to enable those goods and those buyers and sellers to be identified; or
(b)if such books or accounts have not been kept in such manner as to enable them to be conveniently and properly audited, whether or not the company has appointed an auditor.”.
(42)Section 410 of the Companies Act is amended—
(a)by inserting the word “and” at the end of paragraph(b);
(b)by deleting the word “;and” at the end of paragraph(c) and substituting a full‑stop; and
(c)by deleting paragraph(d).

(43)Section 411(1) of the Companies Act is amended by deleting paragraph(b).

(44)The Tenth Schedule to the Companies Act is repealed.

(45)The Eleventh Schedule to the Companies Act is repealed.

Division 2 — Other Acts

Amendment of Accounting and Corporate Regulatory AuthorityAct

452.The Accounting and Corporate Regulatory Authority Act (Cap.2A, 2005Ed.) is amended—
(a)by inserting, immediately after the definition of “FATFrecommendation” in section28A, the following definition:

““Fifth Schedule Act” means any of the written laws specified in the first column of the FifthSchedule;”;

(b)by deleting the definition of “Registrar” in section28A and substituting the following definition:
““Registrar” means —
(a)the Registrar appointed under a scheduled Act; or
(b)the person specified in the second column of the FifthSchedule, in respect of a FifthSchedule Act specified in the first column of that Schedule;”;
(c)by inserting, immediately after the words “scheduledAct” in paragraphs(a), (b), (c) and (d) of the definition of “transaction” in section28A, the words “or FifthSchedule Act”;
(d)by inserting, immediately after the words “scheduledAct” wherever they appear in sections28B(1)(b) and (d), (2)(c), (3)(b) and (5)(a), 28C(1)(a) and (b), 28E(1)(a) and 28G(14), the words “or Fifth Schedule Act”;
(e)by inserting, immediately after the words “scheduledActs” in section28B(6)(a) and (b), the words “or FifthSchedule Acts”;
(f)by deleting the words “Second and Fourth” in section37 and substituting the words “Second, Fourth and Fifth”;
(g)by deleting the Schedule reference of the First Schedule and substituting the following Schedule reference:

“Section 5(4)”;

(h)by deleting the Schedule reference of the SecondSchedule and substituting the following Schedule reference:

“Sections 6(1), 13(2), 28A, 31(1), 33(1) and (2), 34(1) and (5) and 37”; and

(i)by inserting, immediately after the Fourth Schedule, the following Schedule:

“FIFTH SCHEDULE

Sections 28A and 37

Written laws under which transaction
may be carried out using electronic
transaction system

First column

Second column

1.Insolvency, Restructuring and Dissolution Act 2018

Registrar of Companies mentioned in section2(1) of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Air Navigation Act

453.Section 29B(1) of the Air Navigation Act (Cap.6, 2014Ed.) is amended by deleting the words “section127 of the Bankruptcy Act (Cap.20)” in paragraph(b) and substituting the words “section397 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Banking Act

454.The Banking Act (Cap. 19, 2008 Ed.) is amended —
(a)by inserting, immediately after the words “CompaniesAct (Cap.50)” in section16(3), the words “or the Insolvency, Restructuring and DissolutionAct 2018”;
(b)by deleting the words “section 328(1) of the CompaniesAct (Cap.50)” in section61(2) and substituting the words “section203(1) of the Insolvency, Restructuring and Dissolution Act2018”; and
(c)by deleting the words “section 270 of the CompaniesAct (Cap.50)” in section63(1)(b) and substituting the words “section141 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Bus Services Industry Act 2015

455.The Bus Services Industry Act 2015 (Act 30 of 2015) is amended—
(a)by deleting paragraph(b) of section21(1) and substituting the following paragraph:
“(b)no judicial manager may be appointed under Part7 of the Insolvency, Restructuring and Dissolution Act2018 in relation to the company;”;
(b)by deleting the full-stop at the end of paragraph(c) of section21(1) and substituting the word “;and”, and by inserting immediately thereafter the following paragraph:
“(d)no application under section210 of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018 may be made by any person in relation to the company, unless that person has served 14days’ written notice of that person’s intention to make the application on the LTA.”;
(c)by deleting subsection(2) of section21 and substituting the following subsection:
“(2)The LTA must be a party to —
(a)any proceedings under the Insolvency, Restructuring and Dissolution Act2018 relating to the winding up of the affairs of a company that is a public bus operator holding a Class 1 bus service licence; or
(b)any proceedings relating to the making of an order under section210 of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018 in relation to a company that is a public bus operator holding a Class1 bus service licence.”;
(d)by deleting the words “Part VIIIA of the CompaniesAct (Cap.50)” in section33(1) and substituting the words “Part7 of the Insolvency, Restructuring and Dissolution Act2018”; and
(e)by deleting the words “section254(2) of the Companies Act (Cap.50)” in section39(10) and substituting the words “section125(2) of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Business Names Registration Act 2014

456.Section 17(2) of the Business Names Registration Act2014 (Act29 of 2014) is amended by deleting the words “PartX of the Companies Act” in paragraph(b)(i) and substituting the words “Part8 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Business Trusts Act

457.The Business Trusts Act (Cap.31A, 2005 Ed.) is amended—
(a)by deleting the definition of “approved liquidator” in section2;
(b)by inserting, immediately after the definition of “liabilities” in section2, the following definition:

““licensed insolvency practitioner” has the meaning given by section2(1) of the Insolvency, Restructuring and Dissolution Act2018;”;

(c)by deleting the definition of “Official Receiver” in section2 and substituting the following definition:

““Official Receiver” has the meaning given by section2(1) of the Insolvency, Restructuring and Dissolution Act2018;”; and

(d)by deleting the words “an approved liquidator” in section48(1) and substituting the words “a licensed insolvency practitioner”.

Amendment of Charities Act

458.Section 32(1) of the Charities Act (Cap. 37, 2007Ed.) is amended by deleting the words “Companies Act (Cap.50)” and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Child Development Co-Savings Act

459.Section 5 of the Child Development Co-Savings Act (Cap.38A, 2002 Ed.) is amended by deleting the words “section98 or 99 of the Bankruptcy Act (Cap.20)” in paragraph(b) and substituting the words “section361 or 362 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Chit Funds Act

460.The Chit Funds Act (Cap. 39, 2013 Ed.) is amended—
(a)by deleting the words “Companies Act (Cap.50)” in section53(1) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”; and
(b)by deleting the words “section 270 of the Companies Act (Cap.50)” in section54(1) and substituting the words “section141 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Civil Aviation Authority of Singapore Act

461.The Civil Aviation Authority of Singapore Act (Cap.41, 2014Ed.) is amended—
(a)by deleting the words “section 254(2) of the Companies Act (Cap.50)” in section72(6) and substituting the words “section125(2) of the Insolvency, Restructuring and Dissolution Act2018”;
(b)by deleting the words “Part VIIIA of the Companies Act (Cap.50)” in section73(3) and substituting the words “Part7 of the Insolvency, Restructuring and Dissolution Act2018”;
(c)by deleting paragraph(b) of section75(1) and substituting the following paragraph:
“(b)no judicial manager may be appointed under Part7 of the Insolvency, Restructuring and Dissolution Act2018 in relation to the company;”;
(d)by deleting the full-stop at the end of paragraph(c) of section75(1) and substituting the word “;and”, and by inserting immediately thereafter the following paragraph:
“(d)no application under section210 of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018 may be made by any person in relation to the company, unless that person has served 14days’ written notice of that person’s intention to make the application on the Authority.”; and
(e)by deleting subsection(2) of section 75 and substituting the following subsection:
“(2)The Authority must be a party to —
(a)any proceedings under the Insolvency, Restructuring and Dissolution Act2018 relating to the winding up of the affairs of a company that is an airport licensee; or
(b)any proceedings relating to the making of an order under section210 of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018 in relation to a company that is an airport licensee.”.

Amendment of Civil Law Act

462.Section4(1) of the Civil Law Act (Cap. 43, 1999 Ed.) is amended by deleting the words “Companies Act (Cap.50)” and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Consumer Protection (Fair Trading) Act

463.Section 9(4) of the Consumer Protection (Fair Trading) Act (Cap.52A, 2009Ed.) is amended—
(a)by inserting, immediately after sub‑paragraph(iv) of paragraph(d), the following sub‑paragraph:
“(iva)an order is made under section71 of the Insolvency, Restructuring and Dissolution Act2018 approving a compromise or an arrangement between the supplier and the supplier’s creditors;”;
(b)by deleting the words “Part VIII of the CompaniesAct” in paragraph(d)(v) and substituting the words “Part6 of the Insolvency, Restructuring and Dissolution Act2018”;
(c)by deleting the words “Part VIIIA of the Companies Act” in paragraph(d)(vi) and substituting the words “Part7 of the Insolvency, Restructuring and Dissolution Act2018”; and
(d)by deleting the words “Part X of the Companies Act” in paragraph(d)(vii) and substituting the words “Part8 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Conveyancing and Law of Property Act

464.Section 73B of the Conveyancing and Law of Property Act (Cap.61, 1994Ed.) is repealed.

Amendment of Co-operative Societies Act

465.Section 101 of the Co-operative Societies Act (Cap.62, 2009Ed.) is amended by inserting, immediately after the words “Companies Act (Cap.50)”, the words “,the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act

466.The Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (Cap. 65A, 2000Ed.) is amended—
(a)by deleting the words “section 90 of the Bankruptcy Act (Cap.20)” in section12(6)(a) and substituting the words “section352 of the Insolvency, Restructuring and Dissolution Act2018”;
(b)by deleting the words “section 328 of the Companies Act (Cap.50)” in section12(6)(b) and substituting the words “section203 of the Insolvency, Restructuring and Dissolution Act2018”;
(c)by deleting the words “Bankruptcy Act (Cap.20)” in section23(1) and (3) and substituting in each case the words “Insolvency, Restructuring and Dissolution Act2018”;
(d)by deleting the words “Bankruptcy Act” in section23(2)(a) and (5)(a) and substituting in each case the words “Insolvency, Restructuring and Dissolution Act2018”;
(e)by deleting the words “section78(2)” in section23(2)(b) and substituting the words “section329(2)”;
(f)by deleting the words “section124(3)(c)” in section23(2)(c) and substituting the words “section394(3)(c)”;
(g)by deleting the words “section 73 of the Bankruptcy Act” in section23(5) and substituting the words “section324 of the Insolvency, Restructuring and Dissolution Act2018”;
(h)by deleting the words “section127(2) of the Bankruptcy Act” in section23(6) and substituting the words “section397(2) of the Insolvency, Restructuring and Dissolution Act2018”;
(i)by deleting the words “Companies Act (Cap. 50)” in section24(3) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”; and
(j)by deleting the words “Companies Act” in the definition of “company” in section24(5) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Cross-Border Railways Act 2018

467.The Cross-Border Railways Act 2018 (Act21 of 2018) is amended—
(a)by deleting the words “Companies Act (Cap.50)” in sections20(1)(b) and 24(1)(b) and substituting in each case the words “Insolvency, Restructuring and Dissolution Act2018”;
(b)by inserting, immediately after paragraph(b) of section20(1), the following paragraph:
“(ba)the company must not appoint an interim judicial manager under section94(3) of the Insolvency, Restructuring and Dissolution Act2018, unless the company has served on the Minister 14days’ notice in writing of the company’s intention to make the appointment;”;
(c)by deleting the words “or 211I of the Companies Act” in sections20(1)(c) and (2)(c) and 24(1)(c) and (2)(c) and substituting in each case the words “of the CompaniesAct or section71 of the Insolvency, Restructuring and Dissolution Act2018”;
(d)by deleting the words “CompaniesAct” in sections20(2)(a) and (b) and 24(2)(a) and (b) and substituting in each case the words “Insolvency, Restructuring and Dissolution Act2018”;
(e)by deleting the word “or” at the end of paragraph(b) of section20(2), and by inserting immediately thereafter the following paragraph:
“(ba)any meeting convened under section94(7) of the Insolvency, Restructuring and Dissolution Act2018 in relation to a company which is a concessionaire; or”;
(f)by inserting, immediately after paragraph (b) of section24(1), the following paragraph:
“(ba)the company must not appoint an interim judicial manager under section94(3) of the Insolvency, Restructuring and Dissolution Act2018, unless the company has served on the Minister 14days’ notice in writing of the company’s intention to make the appointment;”;
(g)by deleting the word “or” at the end of paragraph(b) of section24(2), and by inserting immediately thereafter the following paragraph:
“(ba)any meeting convened under section94(7) of the Insolvency, Restructuring and Dissolution Act2018 in relation to a company which is a railway assets operator; or”; and
(h)by deleting the words “section254(2) of the Companies Act (Cap.50)” in section 39(3) and substituting the words “section125(2) of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Deposit Insurance and Policy Owners’ Protection Schemes Act

468.The Deposit Insurance and Policy Owners’ Protection Schemes Act (Cap.77B, 2012Ed.) is amended—
(a)by deleting the definition of “liquidator” in section2(1) and substituting the following definition:

““liquidator” has the meaning given by section2(1) of the Insolvency, Restructuring and Dissolution Act2018;”;

(b)by deleting the words “Companies Act (Cap.50)” in paragraph(a)(i) of the definition of “quantification date” in section2(1) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”;
(c)by deleting the words “Companies Act” in paragraphs(a)(iii), (iv) and (vi) and (b)(i), (iii), (iv) and (vi) of the definition of “quantification date” in section2(1) and substituting in each case the words “Insolvency, Restructuring and Dissolution Act2018”;
(d)by deleting the words “Companies Act” in section21(1)(aa) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”;
(e)by deleting the words “Companies Act” in section27(5) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”;
(f)by deleting the words “Section322(3), (6), (7), (8) and (9) of the Companies Act (Cap.50)” in sections28(5) and 53(5) and substituting in each case the words “Section197(4), (7), (8), (9) and (10) of the Insolvency, Restructuring and Dissolution Act2018”;
(g)by deleting the words “Companies Act” in section28A(1)(a) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”;
(h)by deleting the words “Companies Act” in section46(1)(b) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”;
(i)by deleting the words “Companies Act” in section52(5) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”; and
(j)by deleting the words “Companies Act” in section54A(1)(a) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of District Cooling Act

469.The District Cooling Act (Cap. 84A, 2002 Ed.) is amended—
(a)by deleting the words “PartVIIIA of the Companies Act (Cap.50)” in section21(3) and substituting the words “Part7 of the Insolvency, Restructuring and Dissolution Act2018”;
(b)by deleting paragraph(b) of section22(4) and substituting the following paragraph:
“(b)no judicial manager may be appointed under Part7 of the Insolvency, Restructuring and Dissolution Act2018 in relation to the licensee;”;
(c)by deleting the full-stop at the end of paragraph(c) of section22(4) and substituting the word “;and”, and by inserting immediately thereafter the following paragraph:
“(d)no application under section210 of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018 may be made by any person in relation to the licensee, unless that person has served 14days’ written notice of that person’s intention to make the application on the Authority.”; and
(d)by deleting subsection (5) of section 22 and substituting the following subsection:
“(5)The Authority must be a party to —
(a)any proceedings under the Insolvency, Restructuring and Dissolution Act2018 relating to the winding up of the affairs of a company that is a licensee; or
(b)any proceedings relating to the making of an order under section210 of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018 in relation to a company that is a licensee.”.

Amendment of Early Childhood Development Centres Act2017

470.Section 16(12) of the Early Childhood Development Centres Act2017 (Act19 of 2017) is amended by deleting the words “section254(2) of the Companies Act (Cap.50)” and substituting the words “section125(2) of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Education Endowment and Savings Schemes Act

471.Section 16G(3) of the Education Endowment and Savings Schemes Act (Cap.87A, 2009Ed.) is amended by deleting the words “section98 or 99 of the Bankruptcy Act (Cap.20)” and substituting the words “section361 or 362 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Education Service Incentive Payment Act

472.Section 7(2) of the Education Service Incentive PaymentAct (Cap.87B, 2002Ed.) is amended by deleting the words “Bankruptcy Act (Cap.20)” and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Electricity Act

473.The Electricity Act (Cap. 89A, 2002 Ed.) is amended—
(a)by deleting the words “Part VIIIA of the Companies Act (Cap.50)” in section28(3)(b) and substituting the words “Part7 of the Insolvency, Restructuring and Dissolution Act2018”;
(b)by deleting the words “section254(2) of the Companies Act (Cap.50)” in section29(6) and substituting the words “section125(2) of the Insolvency, Restructuring and Dissolution Act2018”;
(c)by deleting paragraph(b) of section29(7) and substituting the following paragraph:
“(b)no judicial manager may be appointed under Part7 of the Insolvency, Restructuring and Dissolution Act2018 in relation to an electricity licensee without the consent of the Authority;”;
(d)by deleting the word “and” at the end of section29(7)(c);
(e)by deleting the full-stop at the end of paragraph(d) of section29(7) and substituting the word “;and”, and by inserting immediately thereafter the following paragraph:
“(e)no application under section210 of the CompaniesAct or section71 of the Insolvency, Restructuring and Dissolution Act2018 may be made by any person in relation to an electricity licensee, unless that person has served 14days’ written notice of that person’s intention to make the application on the Authority.”;
(f)by deleting subsection(8) of section 29 and substituting the following subsection:
“(8)The Authority must be a party to —
(a)any proceedings under the Insolvency, Restructuring and Dissolution Act2018 relating to the winding up of the affairs of an electricity licensee; or
(b)any proceedings relating to the making of an order under section210 of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018 in relation to an electricity licensee.”; and
(g)by inserting, immediately after the words “Companies Act (Cap.50)” in section44(2), the words “or the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Employment Act

474.Section 47(1) of the Employment Act (Cap. 91, 2009Ed.) is amended—
(a)by deleting the words “section 328 of the Companies Act (Cap.50)” in paragraph(a) and substituting the words “section203 of the Insolvency, Restructuring and Dissolution Act2018”; and
(b)by deleting the words “section 90 of the Bankruptcy Act (Cap.20)” in paragraph(b) and substituting the words “section352 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Environmental Public Health Act

475.The Environmental Public Health Act (Cap. 95, 2002Ed.) is amended—
(a)by deleting the words “section254(2) of the Companies Act (Cap.50)” in section31A(6) and substituting the words “section125(2) of the Insolvency, Restructuring and Dissolution Act2018”;
(b)by deleting the words “Part VIIIA of the CompaniesAct” in section31B(3) and substituting the words “Part7 of the Insolvency, Restructuring and Dissolution Act2018”;
(c)by deleting paragraph(b) of section 31D(1) and substituting the following paragraph:
“(b)no judicial manager may be appointed under Part7 of the Insolvency, Restructuring and Dissolution Act2018 in relation to a public waste collector licensee;”;
(d)by deleting the word “and” at the end of section31D(1)(c);
(e)by deleting the full-stop at the end of paragraph(d) of section31D(1) and substituting the word “;and”, and by inserting immediately thereafter the following paragraph:
“(e)no application under section210 of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018 may be made by any person in relation to a public waste collector licensee, unless that person has served 14days’ written notice of that person’s intention to make the application on the Agency.”;
(f)by deleting subsection (2) of section 31D and substituting the following subsection:
“(2)The Agency must be a party to —
(a)any proceedings under the Insolvency, Restructuring and Dissolution Act2018 relating to the winding up of the affairs of a public waste collector licensee; or
(b)any proceedings relating to the making of an order under section210 of the CompaniesAct or section71 of the Insolvency, Restructuring and Dissolution Act2018 in relation to a public waste collector licensee.”; and
(g)by deleting the words “section 127 of the Bankruptcy Act (Cap.20)” in section80K(4)(b) and substituting the words “section397 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Exchange Control Act

476.Paragraph 6 of the Fourth Schedule to the Exchange Control Act (Cap. 99, 2000Ed.) is amended by deleting the words “section61(1) of the Bankruptcy Act (Cap.20)” and substituting the words “section311(1) of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Finance Companies Act

477.The Finance Companies Act (Cap. 108, 2011 Ed.) is amended—
(a)by deleting the words “section 328(1) of the Companies Act (Cap.50)” in section44(2) and substituting the words “section203(1) of the Insolvency, Restructuring and Dissolution Act2018”;
(b)by deleting the words “Companies Act (Cap.50)” in section54(1) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”; and
(c)by deleting the words “section 270 of the Companies Act (Cap.50)” in section55(1)(b) and substituting the words “section141 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Financial Advisers Act

478.The Financial Advisers Act (Cap. 110, 2007Ed.) is amended—
(a)by deleting the words “Companies Act (Cap. 50)” in section66(1) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”;
(b)by deleting the words “Companies Act” in section66(2) and (3) and substituting in each case the words “Insolvency, Restructuring and Dissolution Act2018”; and
(c)by deleting the words “Bankruptcy Act (Cap.20)” in paragraph8 of the FirstSchedule and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Financial Holding Companies Act 2013

479.The Financial Holding Companies Act2013 (Act13 of 2013) is amended—
(a)by inserting, immediately after the words “CompaniesAct (Cap.50)” in section18(3), the words “or the Insolvency, Restructuring and Dissolution Act2018”;
(b)by inserting, immediately after the words “CompaniesAct (Cap.50)” in section24(3), the words “or the Insolvency, Restructuring and Dissolution Act2018”;
(c)by deleting the words “Division 5 of Part X of the Companies Act (Cap.50) and may be wound up by the Court under the Companies Act” in section52(2) and substituting the words “Part10 of the Insolvency, Restructuring and Dissolution Act2018 and may be wound up by the Court under the Insolvency, Restructuring and Dissolution Act2018”;
(d)by deleting paragraphs(a) and (b) of section52(3) and substituting the following paragraph:
“(a)in applying the provisions of the Insolvency, Restructuring and Dissolution Act2018, any reference to the Registrar of Companies is to be read as a reference to the Registrar under the Co‑operative Societies Act;”; and
(e)by inserting, immediately after subsection(3) of section52, the following subsection:
“(3A)Despite subsection (2) and section 101 of the Co‑operative Societies Act, in any winding up of a designated financial holding company that is a co‑operative society, section344 of the Companies Act is applicable and in applying this provision—
(a)any reference to the register under the Companies Act is to be read as a reference to the register of societies mentioned in section10A(1)(a) of the Co‑operative Societies Act; and
(b)any reference to the Registrar under the Companies Act is to be read as a reference to the Registrar under the Co-operative Societies Act.”.

Amendment of Gas Act

480.The Gas Act (Cap. 116A, 2002 Ed.) is amended—
(a)by deleting the words “Part VIIIA of the Companies Act (Cap.50)” in section 33(3) and substituting the words “Part7 of the Insolvency, Restructuring and Dissolution Act2018”;
(b)by deleting the words “section254(2) of the Companies Act (Cap.50)” in section 34(5) and substituting the words “section125(2) of the Insolvency, Restructuring and Dissolution Act2018”;
(c)by deleting paragraph(b) of section 34(6) and substituting the following paragraph:
“(b)no judicial manager may be appointed under Part7 of the Insolvency, Restructuring and Dissolution Act2018 in relation to a gas licensee without the consent of the Authority;”;
(d)by deleting the word “and” at the end of section34(6)(c);
(e)by deleting the full-stop at the end of paragraph(d) of section34(6) and substituting the word “;and”, and by inserting immediately thereafter the following paragraph:
“(e)no application under section210 of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018 may be made by any person in relation to a gas licensee, unless that person has served 14days’ written notice of that person’s intention to make the application on the Authority.”; and
(f)by deleting subsection (7) of section 34 and substituting the following subsection:
“(7)The Authority must be a party to —
(a)any proceedings under the Insolvency, Restructuring and Dissolution Act2018 relating to the winding up of the affairs of a gas licensee; or
(b)any proceedings relating to the making of an order under section210 of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018 in relation to a gas licensee.”.

Amendment of Home Affairs Uniformed Services Superannuation Act

481.Section 8(1) of the Home Affairs Uniformed Services Superannuation Act (Cap.126B, 2012Ed.) is amended by deleting the words “Bankruptcy Act (Cap.20)” and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Housing Developers (Control and Licensing) Act

482.Section 25(2) of the Housing Developers (Control and Licensing) Act (Cap. 130, 1985Ed.) is amended by deleting the words “by a court under the Companies Act (Cap.50)” in paragraph(a) and substituting the words “up by a court under the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Insurance Act

483.The Insurance Act (Cap. 142, 2002 Ed.) is amended—
(a)by inserting, immediately after the words “CompaniesAct (Cap.50)” in section29B(3), the words “or the Insolvency, Restructuring and Dissolution Act2018”;
(b)by deleting the words “Companies Act” in sections49FO(15) and (16) and 49FP(1) and substituting in each case the words “Insolvency, Restructuring and Dissolution Act2018”;
(c)by deleting the words “section 410 of the Companies Act” in section49FO(17) and substituting the words “section448 of the Insolvency, Restructuring and Dissolution Act2018”;
(d)by deleting the words “Part X of the Companies Act (Cap.50)” in section49FO(18) and substituting the words “Part8 of the Insolvency, Restructuring and Dissolution Act2018”;
(e)by deleting the words “section327(2) of the Companies Act (which applies bankruptcy rules in the winding up of insolvent companies),” in section49FO(19) and substituting the words “section218(2) to (8) of the Insolvency, Restructuring and Dissolution Act2018”;
(f)by deleting the semi-colon at the end of the definition of “liquidator” in section49FO(22) and substituting a full‑stop;
(g)by deleting the definition of “unregistered company” in section49FO(22);
(h)by deleting the words “Division 5 of PartX” in section 49FP(1) and substituting the words “Part10”;
(i)by deleting subsection (6) of section 49FP and substituting the following subsection:
“(6)In the winding up of the affairs of an insurer under such an order, the Insolvency, Restructuring and Dissolution Act2018 has effect subject to the following modifications:
(a)section 121 (or, as the case may be, section247) of that Act and other sections so far as they relate to contributories do not apply;
(b)section 129 applies after, as it applies before, the making of the winding up order, and section133(1) of that Act does not apply;
(c)sections 130, 194, 205, 206, 207, 224 to 233 of that Act do not apply.”;
(j)by deleting the words “Division 5 of Part X of the Companies Act (Cap.50) and may be wound up by the Court under the Companies Act” in section49FQ(2) and substituting the words “Part 10 of the Insolvency, Restructuring and Dissolution Act2018 and may be wound up by the Court under the Insolvency, Restructuring and Dissolution Act2018”;
(k)by deleting paragraphs(a) and (b) of section 49FQ(3) and substituting the following paragraph:
“(a)in applying the provisions of the Insolvency, Restructuring and Dissolution Act2018, any reference to the Registrar of Companies is to be read as a reference to the Registrar under the Co-operative Societies Act;”;
(l)by inserting, immediately after subsection (3) of section49FQ, the following subsection:
“(3A)Despite subsection (2) and section 101 of the Co‑operative Societies Act, in any winding up of a co‑operative society that is a licensed insurer, section344 of the Companies Act is applicable and in applying this provision—
(a)any reference to the register under the Companies Act is to be read as a reference to the register of societies mentioned in section10A(1)(a) of the Co‑operative Societies Act; and
(b)any reference to the Registrar under the Companies Act is to be read as a reference to the Registrar under the Co-operative Societies Act.”; and
(m)by deleting the words “section 328(1) of the Companies Act (Cap.50)” in section49FR(2) and substituting the words “section203(1) of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of International Interests in Aircraft Equipment Act

484.The International Interests in Aircraft Equipment Act (Cap.144B, 2012 Ed.) is amended—
(a)by deleting the definition of “commencement of insolvency proceedings” in section2(1) and substituting the following definition:
““commencement of insolvency proceedings” means—
(a)in the case of proceedings in bankruptcy under Part16 of the Insolvency, Restructuring and Dissolution Act2018, the date of presentation of the bankruptcy application under section307 or 308 of that Act;
(b)in the case of winding up proceedings under Part8 of the Insolvency, Restructuring and Dissolution Act2018, the time the winding up is deemed to have commenced under section126 of that Act or the time specified under section161(6) of that Act;
(c)in the case of a voluntary arrangement under Part14 of the Insolvency, Restructuring and Dissolution Act2018, the date of the application for an interim order under section276(1) of that Act;
(d)in the case of a compromise or an arrangement under section210 of the Companies Act, the date of the application for an order under section210(1) of that Act;
(e)in the case of a compromise or an arrangement under section71 of the Insolvency, Restructuring and Dissolution Act2018, the date of the application under section71 of that Act; or
(f)in the case of judicial management proceedings under Part7 of the Insolvency, Restructuring and Dissolution Act2018—
(i)the date of the application for a judicial management order under section91 of that Act; or
(ii)the date of lodgment of the notice of appointment of the interim judicial manager under section94(5)(a) of that Act;”;
(b)by deleting the definitions of “insolvency administrator” and “insolvency proceedings” in section2(1) and substituting the following definitions:
““insolvency administrator” means —
(a)in the case of proceedings in bankruptcy under Part16 of the Insolvency, Restructuring and Dissolution Act2018, the trustee of the bankrupt’s estate;
(b)in the case of winding up proceedings under Part8 of the Insolvency, Restructuring and Dissolution Act2018, the liquidator or provisional liquidator; or
(c)in the case of judicial management proceedings under Part7 of the Insolvency, Restructuring and Dissolution Act2018, the judicial manager or interim judicial manager;
“insolvency proceedings” means —
(a)proceedings in bankruptcy under Part16 of the Insolvency, Restructuring and Dissolution Act2018;
(b)winding up proceedings under Part8 of the Insolvency, Restructuring and Dissolution Act2018;
(c)the making of a voluntary arrangement under Part14 of the Insolvency, Restructuring and Dissolution Act2018 or a compromise or an arrangement under section210 of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018; or
(d)judicial management proceedings under Part7 of the Insolvency, Restructuring and Dissolution Act2018;”; and
(c)by deleting subsection (12) of section 4 and substituting the following subsection:

“(12)In this section, “insolvency law” means a provision of Part VII of the Companies Act, or Part5, 7, 8, 9, 10, 11, 14 or 16 of the Insolvency, Restructuring and Dissolution Act2018.”.

Amendment of Land Titles Act

485.Section 110(1A) of the Land Titles Act (Cap. 157, 2004Ed.) is amended by deleting the words “Bankruptcy Act (Cap.20)” and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Land Titles (Strata) Act

486.Section 83 of the Land Titles (Strata) Act (Cap. 158, 2009Ed.) is amended by deleting the words “an approved liquidator under the Companies Act (Cap.50)” and substituting the words “a licensed insolvency practitioner under the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Legal Aid and Advice Act

487.Section 12(4) of the Legal Aid and Advice Act (Cap.160, 2014Ed.) is amended by deleting the words “rules made under section166 of the Bankruptcy Act (Cap.20)” in paragraph(d) and substituting the words “regulations made under section449 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Legal Profession Act

488.The Legal Profession Act (Cap.161, 2009Ed.) is amended—
(a)by deleting the words “section124(5)(a), (b), (c), (d), (e), (f), (h), (i), (k), (l) or (m) of the Bankruptcy Act (Cap.20)” in sections82A(3)(b), 82B(2)(c), 83(2)(c) and 83A(2)(c) and substituting in each case the words “section394(5)(a), (b), (c), (d), (e), (f), (h), (i), (k) or (l) of the Insolvency, Restructuring and Dissolution Act2018”;
(b)by deleting the words “Companies Act (Cap.50)” in section160(1) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”;
(c)by deleting the words “Companies Act” in section160(2) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”; and
(d)by deleting sub-paragraph(c) of paragraph 5(1) of the FirstSchedule and substituting the following sub‑paragraph:
“(c)a judicial manager has been appointed, or a winding up order has been made under the Insolvency, Restructuring and Dissolution Act2018, with respect to a law corporation, or a resolution for voluntary winding up has been passed with respect to a law corporation (other than a resolution passed solely for the purposes of its reconstruction or its amalgamation with another company); or”.

Amendment of Limited Liability Partnerships Act

489.The Limited Liability Partnerships Act (Cap.163A, 2006Ed.) is amended—
(a)by deleting the definition of “Official Receiver” in section2(1) and substituting the following definition:

““Official Receiver” has the meaning given by section2(1) of the Insolvency, Restructuring and Dissolution Act2018;”;

(b)by deleting the words “PartX of the Companies Act (Cap.50)” in section 19A(2)(c)(i) and substituting the words “Part8 of the Insolvency, Restructuring and Dissolution Act2018”;
(c)by deleting sub-paragraphs (c) and (d) of paragraph2(1) of the FourthSchedule and substituting the following sub‑paragraphs:
“(c)a chargee or other security holder of any property of the limited liability partnership;
(d)an auditor of the limited liability partnership;
(e)a partner, manager or employee of the limited liability partnership;
(f)a director, secretary or employee of any corporation that is a chargee or other security holder of the property of the limited liability partnership;
(g)any person who is neither a licensed insolvency practitioner nor the Official Receiver.”;
(d)by deleting the words “or(d)” in paragraph2(2) of the FourthSchedule and substituting the words “or(g)”;
(e)by deleting the definition of “approved liquidator” in paragraph1 of the FifthSchedule;
(f)by inserting, immediately after the definition of “Court” in paragraph1 of the FifthSchedule, the following definition:

““licensed insolvency practitioner” has the meaning given by section2(1) of the Insolvency, Restructuring and Dissolution Act2018;”;

(g)by deleting the words “an approved liquidator” in paragraphs10(1)(a), 15 and 37(1) of the FifthSchedule and substituting in each case the words “a licensed insolvency practitioner”; and
(h)by deleting paragraph11 of the Fifth Schedule and substituting the following paragraph:

“Appointment, style, etc., of liquidators

11.The following provisions have effect on a winding up order being made:
(a)the Court may appoint a licensed insolvency practitioner or, if the Official Receiver consents, the Official Receiver, to be the liquidator;
(b)at any time when the Official Receiver is the liquidator of the limited liability partnership, the Official Receiver may summon separate meetings of the creditors and partners of the limited liability partnership for the purpose of determining whether or not an application is to be made to the Court for appointing a liquidator in the place of the Official Receiver;
(c)the Court may make any appointment and order required to give effect to any determination mentioned in sub‑paragraph(b), and, if there is a difference between the determinations of the meetings of the creditors and partners in respect of the matter mentioned in sub‑paragraph(b), the Court must decide the difference and make such order on the difference as the Court may think fit;
(d)in a case where a winding up order is made under paragraph3(1)(f) on the ground that the limited liability partnership is being used for purposes against national security or interest, the Official Receiver must be the liquidator of the limited liability partnership;
(e)any vacancy in the office of a liquidator appointed by the Court must be filled by the Court, and pending the appointment of a replacement liquidator by the Court, the Official Receiver is by virtue of the Official Receiver’s office the liquidator during such vacancy;
(f)a liquidator must be described, where a person other than the Official Receiver is liquidator, by the style of “theliquidator”, and, where the Official Receiver is liquidator, by the style of “the Official Receiver and liquidator”, of the particular limited liability partnership in respect of which the liquidator is appointed, and not by the liquidator’s individual name.”.

Amendment of Limited Partnerships Act

490.Section 17A(2) of the Limited Partnerships Act (Cap.163B, 2010Ed.) is amended by deleting the words “PartX of the Companies Act” in paragraph(c)(i) and substituting the words “Part8 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Maritime and Port Authority of Singapore Act

491.The Maritime and Port Authority of Singapore Act (Cap.170A, 1997 Ed.) is amended—
(a)by deleting paragraph(d) of the definition of “officer” in section86A(1) and substituting the following paragraph:
“(d)any judicial manager of the corporation appointed under Part7 of the Insolvency, Restructuring and Dissolution Act2018;”;
(b)by deleting the definition of “Official Receiver” in section86A(1) and substituting the following definition:

““Official Receiver” has the meaning given by section2(1) of the Insolvency, Restructuring and Dissolution Act2018;”;

(c)by deleting the words “Part VIIIA of the Companies Act (Cap.50)” in section 87(3) and substituting the words “Part7 of the Insolvency, Restructuring and Dissolution Act2018”;
(d)by deleting paragraph (b) of section 88(4) and substituting the following paragraph:
“(b)no judicial manager may be appointed under Part7 of the Insolvency, Restructuring and Dissolution Act2018 in relation to the company;”;
(e)by deleting the full-stop at the end of paragraph(c) of section88(4) and substituting the word “; and”, and by inserting immediately thereafter the following paragraph:
“(d)no application under section210 of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018 may be made by any person in relation to the company, unless that person has served 14days’ written notice of that person’s intention to make the application on the Authority.”;
(f)by deleting subsection (5) of section 88 and substituting the following subsection:
“(5)The Authority must be a party to —
(a)any proceedings under the Insolvency, Restructuring and Dissolution Act2018 relating to the winding up of the affairs of a company that is a relevant public licensee; or
(b)any proceedings relating to the making of an order under section210 of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018 in relation to a company that is a relevant public licensee.”; and
(g)by deleting the words “section 254(2) of the CompaniesAct (Cap.50)” in section88(7) and substituting the words “section125(2) of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Monetary Authority of Singapore Act

492.The Monetary Authority of Singapore Act (Cap.186, 1999Ed.) is amended—
(a)by inserting, immediately after section40, the following section:

“Provisions as to compromise or arrangement relating to certain financial institutions, etc.

40A.—(1)This section applies despite any other written law.
(2)In any proceedings under section 210 of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018 in relation to a company that is a TypeA financial institution, the Authority—
(a)has the same powers and rights as a creditor of the company under the Companies Act or the Insolvency, Restructuring and Dissolution Act2018 respectively (including the right to appear and be heard before the Court in any proceedings under those provisions); but
(b)does not have the right to vote at any meeting summoned under section210 of the CompaniesAct.
(3)In the case of a company that is a TypeB financial institution, the Court must not—
(a)approve under section 210 of the CompaniesAct or section71 of the Insolvency, Restructuring and Dissolution Act2018 any compromise or arrangement that has been proposed for the purposes of or in connection with any scheme mentioned in section212(1) of the Companies Act under which the whole or any part of the undertaking or the property of the company is to be transferred; or
(b)without affecting paragraph(a), make any order under section212(1) of the CompaniesAct providing for the transfer of the whole or any part of the undertaking or the property of the company,

unless the Minister has consented to such compromise or arrangement or such transfer (as the case may be) or has certified that the Minister’s consent is not required.

(4)In the case of a company that is a Type C financial institution, the Court must not—
(a)approve under section210 of the CompaniesAct or section71 of the Insolvency, Restructuring and Dissolution Act2018 any compromise or arrangement that has been proposed for the purposes of or in connection with any scheme mentioned in section212(1) of the Companies Act under which the whole or any part of the undertaking or the property of the company is to be transferred; or
(b)without affecting paragraph(a), make any order under section212(1) of the CompaniesAct providing for the transfer of the whole or any part of the undertaking or the property of the company,

unless the Authority has consented to such compromise or arrangement or such transfer (as the case may be) or has certified that the Authority’s consent is not required.

(5)For the purposes of this section, the Authority may make regulations under section41 to prescribe any financial institution or class of financial institutions as a TypeA financial institution, TypeB financial institution or TypeC financial institution.

(6)In this section, “company” means any corporation liable to be wound up under the Insolvency, Restructuring and Dissolution Act2018.”;

(b)by deleting paragraph (b) of section 53(2) and substituting the following paragraph:
“(b)that no judicial manager may be appointed under Part7 of the Insolvency, Restructuring and Dissolution Act2018 in relation to the specified financial institution, or that the specified financial institution be discharged from judicial management;”;
(c)by deleting the words “section 254(1) of the CompaniesAct (Cap.50)” in section 54(1) and substituting the words “section125(1) of the Insolvency, Restructuring and Dissolution Act2018”;
(d)by deleting the words “section 351(1) of the CompaniesAct” in section54(2) and substituting the words “section246(1) of the Insolvency, Restructuring and Dissolution Act2018”;
(e)by deleting the words “sections 254(2) and 351(2) of the CompaniesAct” in section 54(3) and substituting the words “sections125(2) and246(2) of the Insolvency, Restructuring and Dissolution Act2018”;
(f)by deleting the words “section 254(1)(e) or 351(1)(c)(ii) of the Companies Act” in section54(3) and substituting the words “section125(1)(e) or 246(1)(c)(ii) of that Act”;
(g)by deleting the words “Companies Act” in section54(4)(a), (7) and (8) and substituting in each case the words “Insolvency, Restructuring and Dissolution Act2018”;
(h)by deleting the words “section263(a), (d), (da) or (e) of the CompaniesAct” in section 54(5) and substituting the words “section134(a), (d) or (e) of the Insolvency, Restructuring and Dissolution Act2018”;
(i)by deleting the words “section350 of the CompaniesAct” in the definition of “unregistered company” in section54(9) and substituting the words “section245 of the Insolvency, Restructuring and Dissolution Act2018”;
(j)by deleting the words “Section 259 of the Companies Act (Cap.50) shall” in sections58(11) and 67(8) and substituting in each case the words “Section130(1) of the Insolvency, Restructuring and Dissolution Act2018 does”;
(k)by deleting the words “no judicial management order under PartVIIIA of the Companies Act (Cap.50) shall be made” in section59(1) and substituting the words “nojudicial manager may be appointed under Part7 of the Insolvency, Restructuring and Dissolution Act2018”;
(l)by deleting the words “no judicial management order under Part VIIIA of the Companies Act shall be made” in sections67(13)(h) and 70(13)(b) and substituting in each case the words “no judicial manager may be appointed under Part7 of the Insolvency, Restructuring and Dissolution Act2018”;
(m)by deleting the words “no judicial management order under PartVIIIA of the Companies Act (Cap.50) may be made” in section77(1)(b) and substituting the words “no judicial manager may be appointed under Part7 of the Insolvency, Restructuring and Dissolution Act2018”;
(n)by inserting, immediately after the words “CompaniesAct” in section78(10), the words “or the Insolvency, Restructuring and Dissolution Act2018”;
(o)by deleting the words “section328(1) of the Companies Act (Cap.50)” in section110 and substituting the words “section203(1) of the Insolvency, Restructuring and Dissolution Act2018”; and
(p)by deleting the words “, the Bankruptcy Act (Cap.20) and the Companies Act (Cap.50)” in section122 and substituting the words “, the Companies Act and the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Moneylenders Act

493.Section 11D(3) of the Moneylenders Act (Cap. 188, 2010Ed.) is amended—
(a)by deleting the words “under the BankruptcyAct (Cap.20)” in paragraph(a);
(b)by deleting the words “Companies Act” in paragraphs(c), (d), (e), (f) and (g) and substituting in each case the words “Insolvency, Restructuring and Dissolution Act2018 or any previous written law”; and
(c)by inserting, immediately after paragraph(d), the following paragraph:
“(da)the lodgment of a written notice of the appointment of an interim judicial manager under section94(5)(a) of the Insolvency, Restructuring and Dissolution Act2018 in respect of—
(i)the licensee;
(ii)any partner or substantial shareholder of the licensee; or
(iii)any manager of the licensee, where the licensee is a limited liability partnership;”.

Amendment of Motor Vehicles (Third-Party Risks and Compensation) Act

494.The Motor Vehicles (Third-Party Risks and Compensation) Act (Cap. 189, 2000Ed.) is amended—
(a)by deleting the words “section 148 of the Bankruptcy Act (Cap.20)” in sections10(2) and 11(2)(a) and substituting in each case the words “section419 of the Insolvency, Restructuring and Dissolution Act2018”;
(b)by deleting the words “Bankruptcy Act (Cap.20)” in section10(2) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”; and
(c)by deleting the words “section148 of the Bankruptcy Act” in section10(3) and substituting the words “section419 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Mutual Assistance in Criminal Matters Act

495.The Mutual Assistance in Criminal Matters Act (Cap.190A, 2001 Ed.) is amended—
(a)by deleting item 38A of the Second Schedule;
(b)by inserting, immediately after item 105B of the Second Schedule, the following items:

“Insolvency, Restructuring and Dissolution Act2018

105C.Section 238(4)

Fraudulent trading by responsible person

105D.Section 239(6)

Wrongful trading by responsible person”;

(c)by deleting the words “Bankruptcy Act (Cap.20)” in paragraph13(1) and (3) of the ThirdSchedule and substituting in each case the words “Insolvency, Restructuring and Dissolution Act2018”;
(d)by deleting the words “Bankruptcy Act” in paragraph13(2)(a) of the ThirdSchedule and substituting the words “Insolvency, Restructuring and Dissolution Act2018”;
(e)by deleting the words “section 78(2) of the Bankruptcy Act” in paragraph13(2)(b) of the Third Schedule and substituting the words “section329(2) of the Insolvency, Restructuring and Dissolution Act2018”;
(f)by deleting the words “section124(3)(c) of the BankruptcyAct” in paragraph 13(2)(c) of the ThirdSchedule and substituting the words “section394(3)(c) of the Insolvency, Restructuring and Dissolution Act2018”;
(g)by deleting the words “section 73 of the Bankruptcy Act” in paragraph13(5) of the Third Schedule and substituting the words “section324 of the Insolvency, Restructuring and Dissolution Act2018”;
(h)by deleting the words “section 127(2) of the BankruptcyAct” in paragraph13(6) of the Third Schedule and substituting the words “section397(2) of the Insolvency, Restructuring and Dissolution Act2018”;
(i)by deleting the words “Companies Act (Cap. 50)” in paragraph14(3) of the Third Schedule and substituting the words “Insolvency, Restructuring and Dissolution Act2018”; and
(j)by deleting the words “Companies Act” in the definition of “company” in paragraph14(5) of the Third Schedule and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Mutual Benefit Organisations Act

496.Section 31(1) of the Mutual Benefit Organisations Act (Cap.191, 1985Ed.) is amended—
(a)by deleting the words “Companies Act” in paragraph(e) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”; and
(b)by deleting the marginal reference “Cap.50.” in paragraph(e).

Amendment of Nanyang Technological University (Corporatisation) Act

497.Section 7(2) of the Nanyang Technological University (Corporatisation) Act (Cap. 192A, 2006Ed.) is amended by inserting, immediately after the words “Companies Act (Cap.50)”, the words “and the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of National University of Singapore (Corporatisation) Act

498.Section7(2) of the National University of Singapore (Corporatisation) Act (Cap. 204A, 2006 Ed.) is amended by inserting, immediately after the words “Companies Act (Cap.50)”, the words “and the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Parking Places Act

499.Section 8P(10) of the Parking Places Act (Cap.214, 2014Ed.) is amended by deleting the words “section254(2) of the Companies Act (Cap.50)” and substituting the words “section125(2) of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Pawnbrokers Act 2015

500.The Pawnbrokers Act 2015 (Act 2 of 2015) is amended—
(a)by deleting the words “Companies Act” in section2(2)(a)(v) and substituting the words “Insolvency, Restructuring and Dissolution Act2018 or any previous written law”;
(b)by inserting, immediately after paragraph(c) of section29(1), the following paragraph:
“(ca)an application has been made to the court for an order under section71 of the Insolvency, Restructuring and Dissolution Act2018 in respect of the licensee;”;
(c)by deleting the words “Companies Act (Cap.50)” in sections29(1)(d) and 40(b) and substituting in each case the words “Insolvency, Restructuring and Dissolution Act2018”;
(d)by inserting, immediately after paragraph(d) of section29(1), the following paragraph:
“(da)a written notice of the appointment of an interim judicial manager has been lodged under section94(5)(a) of the Insolvency, Restructuring and Dissolution Act2018 in respect of the licensee;”; and
(e)by deleting the words “Companies Act” in section29(1)(e) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Payment and Settlement Systems (Finality and Netting) Act

501.The Payment and Settlement Systems (Finality and Netting)Act (Cap.231, 2003Ed.) is amended—
(a)by deleting the words “Bankruptcy Act (Cap.20)” in paragraph(a) of the definition of “relevant office holder” in section2(1) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”;
(b)by deleting paragraphs(a) and (b) of section2(2) and substituting the following paragraph:
“(a)the Insolvency, Restructuring and Dissolution Act2018; and”;
(c)by deleting the words “section110 of the Bankruptcy Act (Cap.20) and section332 of the Companies Act (Cap.50)” in section9(a) and substituting the words “sections230, 231, 373 and 374 of the Insolvency, Restructuring and Dissolution Act2018”;
(d)by deleting the words “section77 of the Bankruptcy Act and section259 of the Companies Act” in section9(b) and substituting the words “sections130(1) and 328 of the Insolvency, Restructuring and Dissolution Act2018”;
(e)by deleting the words “section211D of the Companies Act” in section9(c) and substituting the words “section66 of the Insolvency, Restructuring and Dissolution Act2018”;
(f)by repealing section10 and substituting the following section:

“Adjustment of prior transactions

10.Without limiting section8, no order may be made by a court under section67, 101, 224, 225, 228, 361, 362, 366 or 438 of the Insolvency, Restructuring and Dissolution Act2018 in relation to a transfer order or any disposition of property pursuant to such an order.”;

(g)by deleting the words “section87 or 88 of the Bankruptcy Act and section327 of the Companies Act” in section11(2) and substituting the words “sections218, 219, 345 and 346 of the Insolvency, Restructuring and Dissolution Act 2018”;
(h)by deleting the words “section88 of the Bankruptcy Act or section327 of the Companies Act” in section11(2)(b) and substituting the words “section219 or 346 of the Insolvency, Restructuring and Dissolution Act2018”;
(i)by deleting the word “or” at the end of paragraph(a) of section12, and by inserting immediately thereafter the following paragraph:
“(aa)a resolution for the participant to be placed under the judicial management of a judicial manager was passed under section94(11) of the Insolvency, Restructuring and Dissolution Act2018; or”;
(j)by inserting, immediately after paragraph(a) of section16(1), the following paragraph:
“(aa)the passing of a resolution for the participant to be placed under the judicial management of a judicial manager under section94(11) of the Insolvency, Restructuring and Dissolution Act2018;”; and
(k)by deleting the words “(1)(a) or (b)” in section16(3)(b) and substituting the words “(1)(a), (aa) or (b)”.

Amendment of Prevention of Corruption Act

502.Section4E(2) of the Prevention of Corruption Act (Cap.241, 1993Ed.) is amended by deleting the words “Bankruptcy Act (Cap.20)” and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Private Education Act

503.Section60(7) of the Private Education Act (Cap.247A, 2011Ed.) is amended by deleting the words “Companies Act (Cap.50)” and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Public Utilities Act

504.Section41(8) of the Public Utilities Act (Cap.261, 2002Ed.) is amended by deleting the words “section 127 of the Bankruptcy Act (Cap.20)” in paragraph(b) and substituting the words “section397 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Rapid Transit Systems Act

505.The Rapid Transit Systems Act (Cap.263A, 2004Ed.) is amended—
(a)by deleting the words “Companies Act (Cap.50)” in section27A(4) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”;
(b)by deleting the words “section254(2) of the Companies Act (Cap.50)” in section27B(5) and substituting the words “section125(2) of the Insolvency, Restructuring and Dissolution Act2018”;
(c)by deleting paragraph(b) of section27D(1) and substituting the following paragraph:
“(b)no judicial manager may be appointed under Part7 of the Insolvency, Restructuring and Dissolution Act2018 in relation to the company;”;
(d)by deleting the full-stop at the end of paragraph(c) of section27D(1) and substituting the word “;and”, and by inserting immediately thereafter the following paragraph:
“(d)no application under section210 of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018 may be made by any person in relation to the company, unless that person has served 14days’ written notice of that person’s intention to make the application on the Authority.”; and
(e)by deleting subsection(2) of section27D and substituting the following subsection:
“(2)The Authority must be a party to—
(a)any proceedings under the Insolvency, Restructuring and Dissolution Act2018 relating to the winding up of the affairs of a company that is a licensee; or
(b)any proceedings relating to the making of an order under section210 of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018 in relation to a company that is a licensee.”.

Amendment of Registration of Criminals Act

506.PartII of the First Schedule to the Registration of Criminals Act (Cap.268, 1985Ed.) is amended by inserting, immediately after the item relating to the “House to House and Street Collections Act”, the following item:

“Insolvency, Restructuring and Dissolution Act 2018

...

Sections236, 405, 406, 407, 408, 409, 410, 411(1) and (2), 412, 413, 414, 415 and 416(1), (2) and (3).”.

Amendment of Securities and Futures Act

507.The Securities and Futures Act (Cap.289, 2006Ed.) is amended—
(a)by inserting, immediately after the words “Companies Act” in section2(2)(d)(iii), the words “or section71 of the Insolvency, Restructuring and Dissolution Act 2018”;
(b)by deleting the words “Bankruptcy Act (Cap.20)” in paragraph(a) of the definition of “relevant office holder” in section48(1) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”;
(c)by deleting paragraphs(a) and (b) of section48(4) and substituting the following paragraph:
“(a)the Insolvency, Restructuring and Dissolution Act2018; and”;
(d)by deleting subsection(3) of section81D and substituting the following subsection:

“(3)Section 210 of the Companies Act and sections71, 129, 130(2), 133(1), 170(1), 187, 276, 325 and 327 of the Insolvency, Restructuring and Dissolution Act2018 do not prevent, or interfere with, any default proceedings.”;

(e)by deleting the words “sections 87 and 88 of the Bankruptcy Act (Cap.20) and section327 of the Companies Act (Cap.50)” in section81F(2) and substituting the words “sections218, 219, 345 and 346 of the Insolvency, Restructuring and Dissolution Act2018”;
(f)by deleting the words “section88 of the Bankruptcy Act or section327 of the Companies Act” in section 81F(2)(b) and substituting the words “section219 or 346 of the Insolvency, Restructuring and Dissolution Act2018”;
(g)by deleting the words “Section110 of the Bankruptcy Act (Cap.20) and section332 of the Companies Act (Cap.50)” in section81G(1) and substituting the words “Sections230, 231, 373 and 374 of the Insolvency, Restructuring and Dissolution Act 2018”;
(h)by deleting the words “Section77 of the Bankruptcy Act and sections259 and 299(1) of the Companies Act” in section81G(2) and substituting the words “Sections130(1), 170(1) and 328 of the Insolvency, Restructuring and Dissolution Act2018”;
(i)by deleting paragraphs(a), (b) and (c) of section81H(1) and substituting the following paragraph:

“section 224, 225, 228, 361, 362, 366 or 438 of the Insolvency, Restructuring and Dissolution Act2018.”;

(j)by deleting the words “section291(1) of the Companies Act (Cap.50)” in paragraph(b) of the definition of “specified event” in section81I(4) and substituting the words “section161(1) of the Insolvency, Restructuring and Dissolution Act2018”;
(k)by deleting the words “section296 of the Companies Act” in paragraph(c) of the definition of “specified event” in section81I(4) and substituting the words “section166 of the Insolvency, Restructuring and Dissolution Act2018”;
(l)by deleting paragraph(e) of the definition of “specified event” in section81I(4) and substituting the following paragraph:
“(e)the appointment of a judicial manager under Part7 of the Insolvency, Restructuring and Dissolution Act2018 in respect of the second participant or that person, as the case may be;”;
(m)by deleting the words “Bankruptcy Act (Cap.20)” in section186(2) and substituting the words “Insolvency, Restructuring and Dissolution Act 2018”;
(n)by deleting the words “PartV of the Bankruptcy Act” in section186(3) and (4)(a), (b) and (c) and substituting in each case the words “Part14 of the Insolvency, Restructuring and Dissolution Act2018”;
(o)by deleting the words “section306 of the Companies Act (Cap.50)” in section273(1)(ci) and substituting the words “section178 of the Insolvency, Restructuring and Dissolution Act2018”;
(p)by deleting the definition of “Official Receiver” in section295A(14) and substituting the following definition:

““Official Receiver” has the meaning given by section2(1) of the Insolvency, Restructuring and Dissolution Act2018;”; and

(q)by deleting the words “Bankruptcy Act (Cap.20)” in paragraph4 of the Third Schedule and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Singapore Armed Forces Act

508.Section205A(2) of the Singapore Armed Forces Act (Cap.295, 2000Ed.) is amended by deleting the words “Bankruptcy Act (Cap.20)” in paragraph(b) and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Singapore Institute of Technology Act

509.Section7(2) of the Singapore Institute of Technology Act (Cap.299B, 2015Ed.) is amended by inserting, immediately after the words “Companies Act (Cap.50)”, the words “and the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Singapore Management University Act

510.Section5(2) of the Singapore Management University Act (Cap.302A, 2014Ed.) is amended by inserting, immediately after the words “Companies Act (Cap.50)”, the words “and the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Singapore Tourism (Cess Collection) Act

511.Section 24 of the Singapore Tourism (Cess Collection) Act (Cap.305C, 1997Ed.) is amended—
(a)by deleting the words “section90 of the Bankruptcy Act (Cap.20)” in subsection(1) and substituting the words “section352 of the Insolvency, Restructuring and Dissolution Act2018”; and
(b)by deleting the words “section328 of the Companies Act (Cap.50)” in subsection(2) and substituting the words “section203 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Singapore University of Social Sciences Act2017

512.Section7(2) of the Singapore University of Social Sciences Act2017 (Act30 of 2017) is amended by inserting, immediately after the words “Companies Act (Cap.50)”, the words “and the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Singapore University of Technology and Design Act

513.Section7(2) of the Singapore University of Technology and Design Act (Cap.305E, 2012Ed.) is amended by inserting, immediately after the words “Companies Act (Cap.50)”, the words “and the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Skills Development Levy Act

514.Section24 of the Skills Development Levy Act (Cap.306, 2012Ed.) is amended—
(a)by deleting the words “section90 of the Bankruptcy Act (Cap.20)” in subsection(1) and substituting the words “section352 of the Insolvency, Restructuring and Dissolution Act2018”; and
(b)by deleting the words “section 328 of the Companies Act (Cap.50)” in subsection(2) and substituting the words “section203 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Societies Act

515.Section25(1A) of the Societies Act (Cap.311, 2014Ed.) is amended by deleting the words “Companies Act (Cap.50)” and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Stamp Duties Act

516.Section 36 of the Stamp Duties Act (Cap.312, 2006Ed.) is amended by deleting the words “Bankruptcy Act (Cap.20)” in paragraph(h) and substituting the words “Insolvency, Restructuring and Dissolution Act 2018”.

Amendment of Telecommunications Act

517.The Telecommunications Act (Cap.323, 2000Ed.) is amended—
(a)by deleting the words “PartVIIIA of the Companies Act (Cap.50)” in section32I(3)(b) and substituting the words “Part7 of the Insolvency, Restructuring and Dissolution Act2018”;
(b)by deleting the words “or 211I of the Companies Act (Cap.50)” in sections32J(3)(a) and 32L(1)(b) and substituting in each case the words “of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018”;
(c)by deleting the words “Companies Act” in sections32J(3)(b) and (c) and 32L(1)(c) and (2)(b) and (c) and substituting in each case the words “Insolvency, Restructuring and Dissolution Act 2018”;
(d)by deleting the word “or” at the end of paragraph(b) of section32J(3), and by inserting immediately thereafter the following paragraph:
“(ba)any meeting convened under section94(7) of the Insolvency, Restructuring and Dissolution Act2018 in relation to the specified telecommunication licensee; or”;
(e)by deleting the words “section254(2) of the Companies Act” in section32J(6) and substituting the words “section125(2) of the Insolvency, Restructuring and Dissolution Act2018”;
(f)by inserting, immediately after paragraph(c) of section32L(1), the following paragraph:
“(ca)a specified telecommunication licensee must not appoint an interim judicial manager under section94(3) of the Insolvency, Restructuring and Dissolution Act2018, unless that licensee has served 14days’ notice in writing of that licensee’s intention to make the appointment on the Authority;”;
(g)by deleting the words “or 211I of the Companies Act” in section32L(2)(a) and substituting the words “of the Companies Act or section71 of the Insolvency, Restructuring and Dissolution Act2018”; and
(h)by deleting the word “and” at the end of paragraph(b) of section32L(2), and by inserting immediately thereafter the following paragraph:
“(ba)any meeting convened under section94(7) of the Insolvency, Restructuring and Dissolution Act2018 in relation to a specified telecommunication licensee; and”.

Amendment of Third Parties (Rights against Insurers) Act

518.The Third Parties (Rights against Insurers) Act (Cap.395, 1994Ed.) is amended—
(a)by deleting the words “section 124 of the Bankruptcy Act” in sections1(2) and (3) and 2(1) and substituting in each case the words “section 419 of the Insolvency, Restructuring and Dissolution Act 2018”; and
(b)by deleting the marginal reference “Cap.20.” in sections1(2) and 2(1).

Amendment of Third-Party Taxi Booking Service Providers Act2015

519.Section28 of the Third-Party Taxi Booking Service Providers Act2015 (Act17 of 2015) is amended by deleting the words “section127 of the Bankruptcy Act (Cap.20)” in paragraph(b) and substituting the words “section397 of the Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Trade Unions Act

520.Section20(3) of the Trade Unions Act (Cap.333, 2004 Ed.) is amended by deleting the words “Companies Act (Cap.50)” and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Trust Companies Act

521.The Trust Companies Act (Cap.336, 2006Ed.) is amended—
(a)by deleting the words “Companies Act (Cap.50)” in section12(1) and substituting the words “Insolvency, Restructuring and Dissolution Act 2018”;
(b)by deleting the words “Companies Act” in section12(2) and (3) and substituting in each case the words “Insolvency, Restructuring and Dissolution Act2018”; and
(c)by inserting, immediately after the words “Internal Security Act (Cap.143),” in the definition of “specified written law” in PartIII of the Third Schedule, the words “the Insolvency, Restructuring and Dissolution Act2018,”.

Amendment of Trustees Act

522.The Trustees Act (Cap.337, 2005Ed.) is amended—
(a)by repealing section86 and substituting the following section:

“Dispositions and trusts created to defraud creditors

86.To avoid doubt, every settlement or disposition of property made or caused to be made on trust, before, on or after the date of commencement of section438 of the Insolvency, Restructuring and Dissolution Act2018, that is a transaction at an undervalue within the meaning in that section, is subject to that section.”; and

(b)by repealing section87 and substituting the following section:

“Effect of Insolvency, Restructuring and Dissolution Act2018 on transactions at undervalue and unfair preferences

87.—(1)To avoid doubt, every settlement or disposition of property made or caused to be made on trust, before, on or after the date of commencement of section522(b) of the Insolvency, Restructuring and Dissolution Act2018, that is—
(a)a transaction at an undervalue as defined in section361 (read with sections363 and 364) of the Insolvency, Restructuring and Dissolution Act2018; or
(b)an unfair preference as defined in section362 (read with sections363 and 364) of the Insolvency, Restructuring and Dissolution Act2018,

is subject to the respective sections, as the case may be.

(2)Where the person making the settlement or disposition is a body corporate, the provisions of sections224 to 227 of the Insolvency, Restructuring and Dissolution Act2018 are to apply.”.

Amendment of Women’s Charter

523.Section57(1) of the Women’s Charter (Cap.353, 2009Ed.) is amended by deleting the words “CompaniesAct (Cap.50)” and substituting the words “Insolvency, Restructuring and Dissolution Act2018”.

Amendment of Work Injury Compensation Act

524.Section19(4) of the Work Injury Compensation Act (Cap.354, 2009Ed.) is amended—
(a)by deleting the words “section 90 of the Bankruptcy Act (Cap.20)” in paragraph(a) and substituting the words “section352 of the Insolvency, Restructuring and Dissolution Act 2018”;
(b)by deleting the words “section 328 of the Companies Act (Cap. 50)” in paragraph(b) and substituting the words “section203 of the Insolvency, Restructuring and Dissolution Act2018”;
(c)by deleting the words “section226 of the Companies Act” in paragraph(c) and substituting the words “section 86 of the Insolvency, Restructuring and Dissolution Act 2018”; and
(d)by deleting the words “section226 of the Companies Act (Cap.50)” in paragraph(iii) and substituting the words “section86 of the Insolvency, Restructuring and Dissolution Act2018”.
Insolvency, Restructuring and Dissolution Act 2018 (2024)

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