Bankruptcy Act(CHAPTER 20)
Table of Contents
Long Title
PRELIMINARY
1 Short title
2 Interpretation
Part I PROCEEDINGS FROM ACT OF BANKRUPTCY TO DISCHARGE
Acts of bankruptcy
3 Acts of bankruptcy
Receiving order
4 Jurisdiction to make receiving order
5 Conditions on which creditor may petition
6 Proceedings and order on creditor’s petition
7 Debtor’s petition and order thereon
8 Effect of receiving order
9 Court may detain or order arrest of debtor and commit him to prison unless he gives security not to leave Singapore
10 Discretionary powers as to appointment of receiver and stay of proceedings
11 Service of order staying proceedings
12 Power to appoint special manager
13 Advertisement of receiving order
14 Power of court to rescind receiving order in certain cases
Proceedings consequent on receiving order
15 First and other meetings of creditors
16 Debtor’s statement of affairs
Public examination of debtor
17 Public examination of debtor
Composition or scheme of arrangement
18 Power for creditors to accept and court to approve composition or arrangement
19 Effect of composition or scheme
20 No deed of arrangement valid except under section 18 or 26 unless registered
21 Penalty for collusive preference
22 Power of Minister to make rules
23 Rectification of registers
Adjudication of bankruptcy
24 Adjudication of bankruptcy
25 Consultative committee
26 Power to accept composition or scheme after bankruptcy adjudication
Control over person and property of debtor
27 Duties of debtor as to discovery and realisation of property
28 Arrest of debtor under certain circumstances
29 Release of debtor on security
30 Redirection of letters and telegrams
31 Discovery of debtor’s property
32 Official Assignee to settle list of debtors to the estate
Discharge of bankrupt
33 Discharge of bankrupt
34 Fraudulent settlements
35 Effect of order of discharge
Part II DISQUALIFICATION AND DISABILITIES OF BANKRUPT
36 Disqualification of bankrupt
37 Vacating offices by bankruptcy
Undischarged bankrupt
38 Consequences of refusal of discharge
39 List of undischarged bankrupts to be kept
Part III ADMINISTRATION OF PROPERTY
Proof of debts
40 Description of debts provable in bankruptcy
41 Mutual credit and set-off
42 Rules as to proof of debts
43 Priority of debts
44 Preferential claim in case of apprenticeship and in respect of passage money
45 Power of landlord to distrain for rent
Property available for payment of debts
46 Relation back of Official Assignee’s title
47 Description of bankrupt’s property divisible amongst creditors
Effect of bankruptcy on antecedent transactions
48 Provisions as to second bankruptcy
49 Restriction of rights of creditor under execution or attachment
50 Duties of Sheriff as to property taken in execution
51 Duties of District Court bailiff as to property taken in execution
52 Avoidance of voluntary settlements
53 Avoidance of preferences in certain cases
54 Protection of bona fide transactions without notice
Realisation of property
55 Possession of property by Official Assignee
56 Seizure of property of bankrupt
57 Appropriation of portion of pay or salary to creditors
58 Vesting and transfer of property
59 Disclaimer of onerous property
60 Powers of Official Assignee to deal with property
61 Powers exercisable by Official Assignee subject to orders of court
Distribution of property
62 Declaration and distribution of dividends
63 Joint and separate dividends
64 Provision for creditors residing at a distance, etc.
65 Right of creditor who has not proved debt before declaration of a dividend
66 Final dividend
67 No action for dividend
68 Power to allow bankrupt to manage property
69 Right of bankrupt to surplus
Part IV OFFICIAL ASSIGNEE
Appointment and removal
70 Appointment of Official Assignee of debtors’ estates
Duties
71 Status of Official Assignee
72 Duties of Official Assignee as regards the debtor’s conduct
73 Duties of Official Assignee as to debtor’s estate
Costs
74 Allowance and taxation of costs
Receipts, payments, accounts and audit
75 Bankruptcy Estates Account
76 Investment of surplus funds
77 Profit and loss on the sale of securities
78 Inspection and audit of Official Assignee’s accounts
79 Official Assignee to furnish list of creditors
80 Books to be kept by Official Assignee
81 Official examination of Official Assignee’s records
Release
82 Release of Official Assignee
Official name
83 Official name of Official Assignee
Vacation of office on insolvency
84 Office of Official Assignee vacated by insolvency
Control
85 Discretionary powers of Official Assignee and control thereof
86 Appeal to court against Official Assignee
87 Control of court over Official Assignee
Part V CONSTITUTION, PROCEDURE AND POWERS OF COURT
Jurisdiction
88 High Court to be the court having jurisdiction in bankruptcy
89 Exercise in chambers of jurisdiction
90 Jurisdiction in bankruptcy of Registrar
91 General power of bankruptcy court
Appeals
92 Appeals in bankruptcy
Procedure
93 Discretionary powers of the court
94 Consolidation of petitions
95 Power to change carriage of proceedings
96 Continuance of proceedings on death of debtor
97 Power to stay proceedings
98 Power to present petition against one partner
99 Power to dismiss petition against some respondents only
100 Actions by Official Assignee and bankrupt’s partners
101 Actions on joint contracts
102 Proceedings in partnership name
103 Action in aid of courts of Malaysia
104 Reciprocal recognition of Official Assignees
Annulment of adjudication
105 Power of court to annul adjudication in certain cases
Part VI SMALL BANKRUPTCIES
106 Interpretation
107 Summary administration in small cases
108 Receiving orders in small cases
109 Public examination in small cases
Part VII FRAUDULENT DEBTORS AND CREDITORS
110 Interpretation
111 Punishment of fraudulent debtors
112 Bankrupt failing to keep proper accounts
113 Bankrupt incurring debt without reasonable ground of expectation of paying it
114 Penalty for absconding with property
115 Penalty for absconding in order to avoid service of bankruptcy process or embarrass bankruptcy proceedings
116 Penalty on fraudulently obtaining credit, etc.
117 Penalty on false claim, etc.
118 Debts incurred by fraud
119 Prosecution for offences
120 Criminal liability after discharge or composition
121 Form of charge
Part VIII SUPPLEMENTAL PROVISIONS
Application of Act
122 Application to married women
123 Exclusion of corporations and companies
124 Administration in bankruptcy of estate of person dying insolvent
General rules
125 Power to make general rules
Fees
126 Fees
Evidence
127 Gazette to be evidence
128 Evidence of proceedings at meetings of creditors
129 Evidence of proceedings in bankruptcy
130 Swearing of affidavits
131 Death of witness
Notices
132 Service of notices
Formal defects
133 Formal defect not to invalidate proceedings
Stamp duty
134 Exemption of deeds, etc., from stamp duty
Corporations, firms and lunatics
135 Acts of corporations, firms and lunatics
Unclaimed funds or dividends
136 Unclaimed or undistributed money
Debtor’s books
137 Access to debtor’s books
Legislative History