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← Insolvency, Restructuring and Dissolution Act 2018

Insolvency, Restructuring and Dissolution Act 2018 s 527

s 527 Other saving and transitional provisions

527.—(1) Despite anything in this Act, a person who is a qualified person may undertake the relevant work corresponding to the person’s qualification —(a) for a period of 6 months after 30 July 2020; and (b) if, within the period in paragraph (a), the person applies for a licence under section 51, until the earlier of the following:(i) the date on which the licensing officer grants the licence to the person; (ii) the date on which the application is finally refused or withdrawn. (2) For a period of 2 years after the date of commencement of any provision of this Act, the Minister may, by regulations, prescribe such additional provisions of a saving or transitional nature consequent on the enactment of that provision as the Minister may consider necessary or expedient. (3) In this section —“qualified person” means —(a) a person (each called in this subsection an approved liquidator) —(i) belonging to a class of persons declared, under section 9(1) of the Companies Act 1967 as in force immediately before 30 July 2020, to be approved liquidators; or (ii) who is approved as a liquidator under section 9(2) of the Companies Act 1967 as in force immediately before that date; (b) a public accountant; or (c) a solicitor; “relevant work” means —(a) in relation to a qualified person who is an approved liquidator, acting as a liquidator or provisional liquidator, or as a receiver or manager, under this Act; (b) in relation to a qualified person who is a public accountant, acting as a judicial manager or interim judicial manager, a trustee of a bankrupt’s estate or a nominee under a voluntary arrangement, under this Act; or (c) in relation to a qualified person who is a solicitor, acting as a trustee of a bankrupt’s estate or a nominee under a voluntary arrangement, under this Act.

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Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗

Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.

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