s 72Q Discharge from simplified debt restructuring programme
72Q.—(1) Subject to this section, a company (in simplified debt restructuring) is discharged from the simplified debt restructuring programme at the expiry of its moratorium period.[Act 3 of 2025 wef 29/01/2026] (2) A company (in simplified debt restructuring) or the Restructuring Adviser may apply to the Official Receiver for an extension of the moratorium period, in the prescribed form and manner, to defer its discharge from the simplified debt restructuring programme, but only if the application is accompanied by evidence of consent of at least two-thirds in total value of the creditors.[Act 3 of 2025 wef 29/01/2026] (3) On an application under subsection (2), the Official Receiver may —(a) extend the moratorium period —(i) for such number of days as may be prescribed by regulations made under section 72V after the expiry of the moratorium period;[Act 3 of 2025 wef 29/01/2026] (ii) only once; and (iii) only before the expiry of the moratorium period; or[Act 3 of 2025 wef 29/01/2026] (b) decline to extend the moratorium period.[39/2020] [Act 3 of 2025 wef 29/01/2026] (3A) The Official Receiver’s decision under subsection (3) is final.[Act 3 of 2025 wef 29/01/2026] (4) Where an extension is granted by the Official Receiver under subsection (3), the company (in simplified debt restructuring) is discharged from the simplified debt restructuring programme at the expiry of the moratorium period and the period of the extension.[39/2020] [Act 3 of 2025 wef 29/01/2026] (5) Where the compromise or arrangement provided by any debt restructuring proposal becomes effective under section 72M(16) before the expiry of the moratorium period (including any period of extension), the company is discharged from the simplified debt restructuring programme on the day the compromise or arrangement becomes effective.[Act 3 of 2025 wef 29/01/2026] (6) [Deleted by Act 3 of 2025 wef 29/01/2026] (7) [Deleted by Act 3 of 2025 wef 29/01/2026] (8) [Deleted by Act 3 of 2025 wef 29/01/2026] (9) Notice of every discharge under this section must be published by the Restructuring Adviser on the designated website.[39/2020] [Act 3 of 2025 wef 29/01/2026]