Bankruptcy (Fees) (Amendment) Rules 2003

Status:

Published in Subsidiary Legislation Supplement
on 08 Sep 2003

No. S 434

Bankruptcy Act

(Chapter 20)

Bankruptcy (Fees) (Amendment) Rules 2003

In exercise of the powers conferred by section 166 of the Bankruptcy Act, the Minister for Law hereby makes the following Rules:

Citation and commencement

1. These Rules may be cited as the Bankruptcy (Fees) (Amendment) Rules 2003 and shall come into operation on 15th September 2003.

Amendment of Schedule

2. Table B of the Schedule to the Bankruptcy (Fees) Rules (R 3) is amended —

(a)

by deleting “$1,050” in item 1 (b) and substituting “$1,081.50”;

(b)

by deleting “$300” in item 1(c) and substituting “$268.50”;

(c)

by deleting paragraph (1) of item 3 and substituting the following paragraph:

“

(1) The fee for net assets —

(a) realised or received by the Official Assignee, whether acting as interim receiver, assignee or trustee; or

(b) realised or brought to credit by the Official Assignee acting in aid of a court of Malaysia under the Act,

shall be as follows:

Amount

Fee (in percentage of amount)

(i) On the first $10,000 net assets or part thereof

10.30

(ii) On the next $15,000 net assets or part thereof

8.24

(iii) On the next $25,000 net assets or part thereof

6.18

(iv) on the next $50,000 net assets or part thereof

4.12

(v) on all further sums

2.06

“(d)

by deleting item 4 and substituting the following item:

4. The fee for distribution of moneys to creditors by the Official Assignee shall be as follows:

Amount

Fee (in percentage of amount)

(a) on the first $10,000 net assets or part thereof

5.15

(b) on the next $15,000 net assets or part thereof

4.12

3.09

(d) on the next $50,000 net assets or part thereof

2.06

(e) on all further sums

1.03

(e)

by deleting item 10 and substituting the following item:

10. The fee for every application through —

(a) the Official Assignee for search of information through the Bankruptcy Management System

(b) remote access for search of information maintained in electronic form

(f)

by deleting item 15 and substituting the following item:

15. The fee for every proof of debt submitted by non-electronic transmission

(g)

by deleting the “Note” at the end of Table B and substituting the following Note:

Note: Note: The fees referred to in items 1 (b), 3 (1) and 4 are inclusive of goods and services tax chargeable under the Goods and Services Tax Act (Cap. 117A) on the supply of goods or services in respect of which such fee is payable.”.

[G.N. No. S 550/2002]

Made this 26th day of August 2003.

LIEW HENG SAN

Permanent Secretary,
Ministry of Law,
Singapore.

[LAW 02/005/1.4 Vol. 2; AG/LEG/SL/20/2003/1 Vol. 1]

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