The amendment replaces multiple prescribed forms in the pre-packaged insolvency resolution process framework with formats notified by the Board, and omits one clause in regulation 2. It also substitutes the previous form references across regulations 7, 14, 15, 16, 17, 19, 20, 43, 49 and 51, and removes the Schedule after regulation 51. Regulation 18 is rewritten to specify the information and documents a corporate applicant must file with a pre-packaged insolvency application, including director or partner declarations, the resolution initiation approval, proof of at least 51% approval from unrelated financial creditors, insolvency professional consents and reports, financial statements, and authorised representative submissions where applicable.
The amendment replaces multiple prescribed forms in the pre-packaged insolvency resolution process framework with formats notified by the Board, and omits one clause in regulation 2. It also substitutes the previous form references across regulations 7, 14, 15, 16, 17, 19, 20, 43, 49 and 51, and removes the Schedule after regulation 51. Regulation 18 is rewritten to specify the information and documents a corporate applicant must file with a pre-packaged insolvency application, including director or partner declarations, the resolution initiation approval, proof of at least 51% approval from unrelated financial creditors, insolvency professional consents and reports, financial statements, and authorised representative submissions where applicable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
