Bankruptcy (Maximum Amount Payable in Priority in Bankruptcy) Order 2016

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(version history — see timeline)

No. S 361

Bankruptcy Act

(CHAPTER 20)

Bankruptcy (Maximum Amount
Payable in Priority in Bankruptcy)
Order 2016

In exercise of the powers conferred by section 90(2) of the Bankruptcy Act, the Minister for Law makes the following Order:

Citation and commencement

1. This Order is the Bankruptcy (Maximum Amount Payable in Priority in Bankruptcy) Order 2016 and comes into operation on 1 August 2016.

Prescribed amount for section 90(1)(b) and (c) of Act

2.—(1) Subject to sub-paragraph (2), for the purposes of section 90(1)(b) and (c) of the Act, the maximum amount is the lower of the following for each employee:

(a)	5 months’ salary (whether for time or piecework) in respect of services rendered by the employee to the bankrupt;
(b)	$12,500, or an amount that is 5 times the amount (if any) prescribed by the Minister for Manpower under section 35(b) of the Employment Act (Cap. 91), whichever is the higher.

(2) Where the amounts in sub-paragraph (1)(a) and (b) are the same, the maximum amount for each employee is equal to either of those amounts.

Made on 25 July 2016.

NG HOW YUE

Permanent Secretary,
Ministry of Law,
Singapore.

[LAW06/011/009 Vol. 5; AG/LEGIS/SL/20/2015/6 Vol. 1]

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