s 49 Restrictions on voluntary winding up, etc.
49.—(1) Despite any other written law —(a) a specified telecommunication licensee must not be wound up voluntarily without the consent of the Authority; (b) a person must not make any application under section 210 of the Companies Act 1967 or section 71 of the Insolvency, Restructuring and Dissolution Act 2018 in relation to a specified telecommunication licensee, unless that person has served 14 days’ notice in writing of the person’s intention to make that application on the Authority; (c) a person must not make any application for a judicial management order under the Insolvency, Restructuring and Dissolution Act 2018 in relation to a specified telecommunication licensee, unless that person has served 14 days’ notice in writing of the person’s intention to make that application on the Authority; (d) a specified telecommunication licensee must not appoint an interim judicial manager under section 94(3) of the Insolvency, Restructuring and Dissolution Act 2018, unless that licensee has served 14 days’ notice in writing of that licensee’s intention to make the appointment on the Authority; (e) a person must not take any step to enforce any security over a specified telecommunication licensee’s property, unless that person has served 14 days’ notice in writing of the person’s intention to take that step on the Authority; and (f) a person must not take any step to enforce any judgment or order of court obtained against a specified telecommunication licensee, unless that person has served 14 days’ notice in writing of the person’s intention to take that step on the Authority.[19/2011; 15/2017; 40/2018] [Act 25 of 2021 wef 01/04/2022] (2) The Authority is a party to —(a) any proceedings relating to the making of an order under section 210 of the Companies Act 1967 or section 71 of the Insolvency, Restructuring and Dissolution Act 2018 in relation to a specified telecommunication licensee; (b) any proceedings relating to the making of a judicial management order under the Insolvency, Restructuring and Dissolution Act 2018 in relation to a specified telecommunication licensee; (c) any meeting convened under section 94(7) of the Insolvency, Restructuring and Dissolution Act 2018 in relation to a specified telecommunication licensee; and (d) any proceedings under the Insolvency, Restructuring and Dissolution Act 2018 relating to the winding up of the affairs of a specified telecommunication licensee.[19/2011; 15/2017; 40/2018] (3) A court must, when deciding any proceedings mentioned in subsection (2), take into consideration any representations made by the Authority in those proceedings.[32L [19/2011]