On 24/05/2013,
you requested for the version in force on 24/05/2013
incorporating all amendments published on or before 24/05/2013.
The closest version currently available is that of 31/10/2009.
PART III
OFFICIAL ASSIGNEE
17.
—(1) The Minister may appoint such person as he may think fit to be the Official Assignee of the estates of bankrupts and for the other purposes of this Act.
[6/2009]
(2) The Official Assignee shall act under the general authority and directions of the Minister, but shall also be an officer of the court.
(3) The Minister may appoint such other officers, either temporary or permanent, as he may think necessary for carrying this Act into effect, and may assign to such officers such duties as he may think fit.
18. The Official Assignee shall have the following official names:
(a)
where he has been appointed as the interim receiver of a debtor’s property under section 73, “The Official Assignee of the Property of (name of debtor), a Debtor”;
(b)
where he is acting as the receiver and trustee of the estate of a bankrupt under Part VII, “The Official Assignee of the Estate of (name of bankrupt), a Bankrupt”; and
(c)
where he is acting as the trustee of the estate of a deceased debtor in bankruptcy under section 148, “The Official Assignee of the Estate of (name of deceased debtor), a Deceased Debtor”,
and may, by such official name, sue and be sued, hold property of every description, enter into contracts or any engagements binding on himself and his successors in office, and do all other acts necessary or expedient to be done in the execution of his office.
19.
—(1) Subject to this Act, the Official Assignee may, in relation to any particular matter or class of matters, by writing under his hand delegate to any person all or any of his powers or functions under this Act or the rules so that such power or function may be exercised by the delegate with respect to the matter or class of matters specified in the instrument of delegation.
(2) No delegation made under this section shall prevent the Official Assignee from exercising the power or function delegated.
(3) The Official Assignee may at any time revoke any delegation made by him under this section.
20. The Official Assignee and any officer appointed by the Minister under section 17(3) shall be deemed to be public servants within the meaning of the Penal Code (Cap. 224).
21.
—(1) The Official Assignee shall have the following duties as regards a bankrupt:
(a)
to investigate the conduct and affairs of the bankrupt, and report to the court as to whether there is reason to believe that the bankrupt has committed any act which constitutes an offence under this Act or under section 421, 422, 423 or 424 of the Penal Code, or which would otherwise justify the court in refusing, suspending or qualifying an order for his discharge;
(b)
to make such other reports concerning the conduct of the bankrupt as the court may direct or as are prescribed;
(c)
to take such part as may be directed by the court or as is prescribed, in any examination of the bankrupt and other persons; and
(d)
to take such part and give such assistance in relation to the prosecution of any fraudulent bankrupt or any other person charged with an offence under this Act, as the court may direct or as is prescribed.
(2) A report by the Official Assignee under subsection (1) shall in any proceedings be prima facie evidence of the facts stated in it.
(3) In this section, the conduct and affairs of a bankrupt shall include his conduct and affairs before the making of the bankruptcy order against him.
22.
—(1) The Official Assignee shall have the following duties as regards the estate of a bankrupt administered by him:
(a)
to act as the receiver of the bankrupt’s estate and where a special manager has not been appointed under section 113, as the manager thereof;
(b)
to raise money or make advances for the purposes of the estate, and to authorise the special manager (if any) to raise money or make advances for the like purposes in any case where in the interests of the creditors it appears necessary to do so;
(c)
to summon and preside at all meetings of creditors held under this Act;
(d)
to issue forms of proxy for use at the meetings of creditors;
(e)
to report to the creditors as to any proposal which he makes with respect to the mode of liquidating the bankrupt’s affairs; and
(f)
to advertise the bankruptcy order, the date of any public examination and such other matters as may be necessary to advertise.
(2) For the purpose of carrying out his duties as receiver or manager, the Official Assignee shall have the same powers as if he were a receiver and manager appointed by the court.
(3) The Official Assignee shall, as far as practicable, consult the creditors with respect to the management of the bankrupt’s estate, and may for that purpose, if he thinks it advisable, summon meetings of the persons claiming to be creditors.
(4) The Official Assignee shall account to the court and pay over all moneys and deal with all securities in such manner as the court may, subject to this Act, direct.
23.
—(1) Subject to this Act, the Official Assignee shall have discretion as to the administration of the property of the bankrupt.
(2) Subject to this Act, the Official Assignee shall, in the administration of the estate of a bankrupt, have regard to any direction that is given by resolution of the creditors at any general meeting and to any advice given by the creditors’ committee.
(3) Where any direction given to the Official Assignee by the creditors of a bankrupt at any general meeting is in conflict with any advice given to him by the creditors’ committee, the direction given by the general meeting of creditors shall prevail.
24. The Official Assignee may administer oaths for the purposes of any matters or proceedings under this Act or for the purpose of taking affidavits.
25.
—(1) The Official Assignee shall, for such period as may be prescribed, keep in such form and manner as he determines —
(a)
an account of his receipts and payments in respect of his administration of the estate of a bankrupt; and
(b)
an account of his receipts and payments in respect of his administration of a debt repayment scheme under Part VA.
[6/2009]
(1A) The Official Assignee shall, upon payment of the prescribed fee, permit —
(a)
the inspection of an account referred to in subsection (1)(a) by the bankrupt, any creditor who has proved his debt in the bankruptcy or any other interested person; and
(b)
the inspection of an account referred to in subsection (1)(b) by the debtor to whom the debt repayment scheme relates, any creditor who has proved his debt under the debt repayment scheme or any other interested person.
[6/2009]
(2) Every account referred to in subsection (1) shall be audited not less than once in each year by such officer as the Minister may appoint in that behalf.
(3) For the purposes of the audit under subsection (2), the Official Assignee shall produce to the auditing officer such books and shall furnish him with such vouchers and information as he may require.
26.
—(1) The Official Assignee shall, for such period as may be prescribed, keep records containing entries or minutes of proceedings at any meeting held under this Act and of such other matters as may be prescribed.
[6/2009]
(2) Any creditor of —
(a)
a bankrupt; or
(b)
a debtor referred to in Part VA,
may, upon payment of the prescribed fee and subject to the control of the court, personally or by his agent inspect any record kept by the Official Assignee under subsection (1) which pertains to that bankrupt or debtor (as the case may be).
[6/2009]
27.
—(1) The Official Assignee shall keep with such bank as he may think fit —
(a)
an account, to be called the Bankruptcy Estates Account, into which all moneys received by the Official Assignee under this Act (with the exception of Part VA) shall, subject to this Act, be paid; and
(b)
an account, to be called the Debt Repayment Schemes Account, into which all moneys received by the Official Assignee under Part VA shall, subject to this Act, be paid.
[6/2009]
(2) All payments out of moneys standing to the credit of the Official Assignee in the Bankruptcy Estates Account or the Debt Repayment Schemes Account shall be made by such bank in such manner as the Official Assignee may think fit.
[6/2009]
28.
—(1) Whenever the cash balance standing to the credit of the Bankruptcy Estates Account or the Debt Repayment Schemes Account is in excess of the amount which, in the opinion of the Official Assignee, is required for the time being to meet demands in respect of insolvent estates or debt repayment schemes administered under Part VA, as the case may be, the Official Assignee shall —
(a)
notify the excess to the Accountant-General; and
(b)
pay over the whole or any part of the excess as the Accountant-General may require to such account as the Accountant-General may direct.
[6/2009]
(2) The Accountant-General may invest the sums paid over under subsection (1)(b) or any part thereof in trustee securities to be placed to the credit of the account referred to in subsection (1)(b).
(3) Where, in the opinion of the Official Assignee, any part of the money paid over from the Bankruptcy Estates Account or the Debt Repayment Schemes Account under subsection (1)(b) and invested under subsection (2) is required to meet any demand in respect of insolvent estates or debt repayment schemes administered under Part VA, as the case may be, the Official Assignee shall notify the Accountant-General of the amount so required.
[6/2009]
(4) The Accountant-General shall repay the Official Assignee such sum as may be required under subsection (3) to the credit of the Bankruptcy Estates Account or the Debt Repayment Schemes Account, as the case may be, and for that purpose the Accountant-General may direct the sale of such part of the securities as may be necessary.
[6/2009]
(5) The income derived from any investment under subsection (2) shall form part of the Consolidated Fund and regard shall be had to the amount thus derived in fixing the fees payable in respect of proceedings in bankruptcy and the administration of debt repayment schemes under Part VA.
[6/2009]
(6) Any profits on the sale of any of the securities placed to the credit of the Bankruptcy Estates Account or the Debt Repayment Schemes Account shall be credited to the Consolidated Fund and that Fund shall be liable to make good any loss arising out of the sale of those securities.
[6/2009]
29. The Official Assignee shall, whenever required by any creditor of a bankrupt to do so, and on payment by the creditor of the prescribed fee, furnish and transmit to the creditor a list of the creditors of the bankrupt, showing in the list the amount of the debt due from the bankrupt to each of the creditors.
30.
—(1) The court shall take cognizance of the conduct of the Official Assignee in his administration of the estate of a bankrupt.
(2) If the Official Assignee does not faithfully perform his duties or duly observe all the requirements imposed on him by this Act, the rules or any other written law with respect to the performance of his duties, or if any complaint is made to the court by any creditor in regard thereto, the court shall inquire into the matter and take such action thereon as it may consider expedient.
(3) The court may —
(a)
at any time require the Official Assignee to answer any inquiry made by it in relation to his administration of the estate of a bankrupt; and
(b)
direct an investigation to be made of the books and vouchers of the Official Assignee or examine him on oath concerning his administration of the estate of a bankrupt.
31.
—(1) If a bankrupt or any of his creditors or any other person is dissatisfied by any act, omission or decision of the Official Assignee in relation to the Official Assignee’s administration of the bankrupt’s estate, he may apply to the court to review such act, omission or decision.
(2) On hearing an application under subsection (1), the court may —
(a)
confirm, reverse or modify any act or decision of the Official Assignee; or
(b)
give such directions to the Official Assignee or make such other order as it may think fit.
(3) The Official Assignee may apply to the court for directions in relation to any particular matter arising under the bankruptcy.
32.
—(1) All sums required to discharge any liability which the Official Assignee may be personally liable to discharge shall be charged upon the Consolidated Fund.
(2) Neither the Official Assignee nor any of his officers shall be liable for any act to which he has not in any way contributed or which he could not by the exercise of reasonable diligence have averted.