Companies (Approved Liquidators) (Transitional and Savings Provisions) Regulations 2004

No. S 136

Companies (Amendment) Act 2004

(Act 5 of 2004)

Companies (Approved Liquidators) (Transitional and Savings Provisions) Regulations 2004

In exercise of the powers conferred by section 60 of the Companies (Amendment) Act 2004, the Minister for Finance hereby makes the following Regulations:

Citation and commencement

1.  These Regulations may be cited as the Companies (Approved Liquidators) (Transitional and Savings Provisions) Regulations 2004 and shall come into operation on 1st April 2004.

Persons approved as liquidators before 1st April 2004

2.—(1)  Subject to paragraph (2), where —

(a) a person has been approved by the Minister as a liquidator under section 9(3) of the Companies Act (Cap. 50) in force immediately before 1st April 2004; and

(b) such approval (referred to in this regulation as the original approval) remained in force immediately before that date,

the person shall be deemed to be approved by the Minister as a liquidator under section 9 (2) of that Act.

(2)  The deemed approval of a person as a liquidator under paragraph (1) shall —

(a) be subject to the same limitation or condition imposed by the Minister in respect of the original approval; and

(b) expire on the date on which the original approval would have expired if the Companies (Amendment) Act 2004 had not been enacted.

Made this 25th day of March 2004.

LIM SIONG GUAN

Permanent Secretary,
Ministry of Finance,
Singapore.

[F14.1.0032 V12.; AG/LEG/SL/50/2002/1 Vol. 6]