§ 241 — Winding up of company

241.—(1) An application to the Court —(a)

in the case of a company — for the winding up of the company; or

(b)

in the case of a foreign company — for the winding up so far as the assets of the company in Singapore are concerned of the affairs of the company,

may be made by the Minister at any time after a report has been made in respect of a declared company by an inspector whereupon the provisions of the Insolvency, Restructuring and Dissolution Act 2018, with such adaptations as are necessary, apply as if —

(c)

in the case of a company — a winding up application had been duly made to the Court by the company; and

(d)

in the case of a foreign company — an application for an order for the affairs of the company so far as assets in Singapore are concerned to be wound up in Singapore had been duly made to the Court by a creditor or contributory of the company upon the liquidation of the company in the place in which it is incorporated.[40/2018]

(2) Where, in the case of a foreign company, on any application under subsection (1) an order is made for the affairs of the company so far as assets in Singapore are concerned to be wound up in Singapore the company must not carry on business or establish or keep a place of business in Singapore.

—(1) An application to the Court —(a)

in the case of a company — for the winding up of the company; or

(b)

in the case of a foreign company — for the winding up so far as the assets of the company in Singapore are concerned of the affairs of the company,

may be made by the Minister at any time after a report has been made in respect of a declared company by an inspector whereupon the provisions of the Insolvency, Restructuring and Dissolution Act 2018, with such adaptations as are necessary, apply as if —

(c)

in the case of a company — a winding up application had been duly made to the Court by the company; and

(d)

in the case of a foreign company — an application for an order for the affairs of the company so far as assets in Singapore are concerned to be wound up in Singapore had been duly made to the Court by a creditor or contributory of the company upon the liquidation of the company in the place in which it is incorporated.[40/2018]

(2) Where, in the case of a foreign company, on any application under subsection (1) an order is made for the affairs of the company so far as assets in Singapore are concerned to be wound up in Singapore the company must not carry on business or establish or keep a place of business in Singapore.