s 46 Meaning and effect of special administration order
46.—(1) A special administration order is an order of the Minister, made in accordance with section 47 in relation to a specified telecommunication licensee, directing that during the period for which the order is in force, the affairs, business and property of that licensee must be managed by a person appointed by the Minister (which may include the Authority) —(a) for securing one or more of the purposes of such an order set out in subsection (2); and (b) in a manner which protects the respective interests of the shareholders and the creditors of the licensee.[19/2011] (2) The purposes mentioned in subsection (1)(a) are —(a) the security and reliability of the supply of telecommunication services in Singapore; (b) the survival of the specified telecommunication licensee, or the whole or any part of its business or undertaking, as a going concern; (c) the transfer to another person, or (as respects different parts of its business or undertaking) to 2 or more different persons, as a going concern, of so much of the specified telecommunication licensee’s business or undertaking as it is necessary to transfer in order to ensure that the functions and duties which have been vested in the licensee by virtue of its licence may be properly carried out; and (d) the carrying out of the functions and duties vested in the specified telecommunication licensee, pending the making of the transfer and the vesting of those functions and duties in any other person or persons.[19/2011] (3) The Minister may make regulations for giving effect to this Part, including —(a) regulations governing the transfer of a specified telecommunication licensee’s business or undertaking mentioned in subsection (2)(c); and (b) where a special administration order is made, regulations for applying, omitting or modifying the provisions of Parts 7 and 9 of the Insolvency, Restructuring and Dissolution Act 2018.[32I [19/2011; 40/2018] [Act 31 of 2022 wef 01/11/2022]