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Is a deposit payable for all applications to wind up a company?
mlaw
Source: https://www.mlaw.gov.sgFor applications under the Insolvency, Restructuring and Dissolution Act, the applicant is required to pay the winding up deposit of $10,400 prior to the application is filed with the High Court. Please email Finance@mlaw.gov.sg for account details to pay the said deposit via PayNow or bank transfer.
An Official Receipt will be issued via email to you within 4 working days upon receiving the completed Deposit Form. You are required to exhibit the Official Receipt as part of your winding up application.
For applications under the Companies Act, the applicant has to pay a winding up deposit of $10,400 after serving the application to the Official Receiver. The deposit may be paid via the following modes:
An Official Receipt will be issued via email to you within 4 working days upon receiving the completed Deposit Form. You are required to exhibit the Official Receipt as part of your winding up application.
For applications under the Companies Act, the applicant has to pay a winding up deposit of $10,400 after serving the application to the Official Receiver. The deposit may be paid via the following modes:
1. Lodgment Form;
2. Cheque; or
3. Cash/ Nets at Singpost (only available 1 working day after the application is filed and accepted by the Official Receiver)
The processing time for payment of winding up deposit paid via Lodgment form and cheque is 5 working days, after which, an official receipt will be emailed to the solicitors.
Both the official receipt from IPTO and receipt from Singpost can be filed to the High Court as evidence of payment of the winding up deposit.
This information provided here is sourced from the MLAW website.
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