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Contents

Long Title

Part I PRELIMINARY

Part II CONSTITUTION, PROCEDURE AND POWERS OF COURT

Jurisdiction

Procedure

Part III OFFICIAL ASSIGNEE

Part IV TRUSTEE IN BANKRUPTCY

Part V VOLUNTARY ARRANGEMENTS

Moratorium for insolvent debtor

Consideration and implementation of debtor’s proposal

Part VA DEBT REPAYMENT SCHEME

Division 1 — Preliminary

Division 2 — Proposal for debt repayment scheme

Division 3 — Commencement and administration of debt repayment scheme

Division 4 — Cessation of debt repayment scheme

Division 5 — Miscellaneous

Part VI PROCEEDINGS IN BANKRUPTCY

Bankruptcy applications and bankruptcy orders

Protection of debtor’s property

Part VII ADMINISTRATION IN BANKRUPTCY

Bankruptcy

Inquiry into bankrupt’s affairs, dealings and property

Proof of debts

Composition or scheme of arrangement

Effect of bankruptcy on antecedent transactions

Possession, control and realisation of bankrupt’s property

Distribution of property

Part VIII ANNULMENT AND DISCHARGE

Part IX DUTIES, DISQUALIFICATION AND DISABILITIES OF BANKRUPT

Part X BANKRUPTCY OFFENCES

Part XI MISCELLANEOUS PROVISIONS

THE SCHEDULE Transitional Provisions and Savings

Legislative History

Comparative Table

 
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On 28/07/2014, you requested the version in force on 28/07/2014 incorporating all amendments published on or before 28/07/2014. The closest version currently available is that of 01/03/2012.
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Inquiry into bankrupt’s affairs, dealings and property
Meeting of creditors
79.
—(1)  The Official Assignee may, at any time after the making of a bankruptcy order, summon a meeting of the bankrupt’s creditors.
(2)  Notwithstanding subsection (1), the Official Assignee shall summon a meeting of the bankrupt’s creditors whenever directed by the court to do so or whenever requested in writing by one-fourth in value of the bankrupt’s creditors to do so.
(3)  Every meeting summoned under this section shall be conducted in accordance with the prescribed rules.
Creditors’ committee
80.
—(1)  At any meeting convened by the Official Assignee under section 79(1), the creditors qualified to vote thereat, including the holders of general proxies or general powers of attorney from such creditors, may by ordinary resolution appoint from amongst themselves a committee (known as the “creditors’ committee”) of not more than 3 persons for the purpose of advising the Official Assignee on matters relating to the administration of the property of the bankrupt.
(2)  The Official Assignee may convene the creditors’ committee at such times as he may think necessary, but shall convene the committee whenever requested in writing to do so by all or a majority of the members of the committee.
(3)  Any member of the creditors’ committee may resign his office by notice in writing, signed by him and delivered to the Official Assignee.
(4)  If a member of the creditors’ committee becomes bankrupt, or compounds or arranges with his creditors, or is absent for more than 2 months from Singapore, his office shall thereupon become vacant.
(5)  Any member of the creditors’ committee may be removed by an ordinary resolution at any meeting of creditors, of which 7 days’ notice has been given stating the object of the meeting.
(6)  On a vacancy occurring in the office of a member of the creditors’ committee, the Official Assignee shall forthwith summon a meeting of creditors for the purpose of filling the vacancy, and the meeting may by ordinary resolution appoint another creditor or eligible person to fill the vacancy.
1(7)  In this section, “general powers of attorney” include lasting powers of attorney registered under the Mental Capacity Act 2008 (Act 22 of 2008).
1  Subsection (7) of section 80, inserted by the Mental Capacity Act (Act 22 of 2008), will come into operation when item (1) in the Third Schedule to the Mental Capacity Act 2008 is brought into operation.
Bankrupt’s statement of affairs
81.
—(1)  Where a bankruptcy order has been made against an individual otherwise than on a debtor’s bankruptcy application, the bankrupt shall submit a statement of his affairs to the Official Assignee within 21 days from the date of the bankruptcy order.
[42/2005]
(2)  Where a bankruptcy order has been made against a firm —
(a)
on a creditor’s bankruptcy application, the bankrupts, being the partners in the firm at the time of the order, shall submit a joint statement of their partnership affairs, and each partner in the firm shall submit a statement of his separate affairs; or
(b)
on a debtor’s bankruptcy application, every person who at the time of the order is a partner in the firm but who did not join in the application shall submit a statement of his separate affairs,
to the Official Assignee within 21 days from the date of the bankruptcy order.
[42/2005]
(3)  The statement of affairs referred to in subsection (2) shall contain —
(a)
such particulars of the bankrupt’s assets, creditors, debts and other liabilities as may be prescribed;
(b)
in the case of a firm, such particulars of the firm’s assets, creditors, debts and other liabilities as may be prescribed; and
(c)
such other information as may be prescribed.
(4)  The Official Assignee may, if he thinks fit —
(a)
release the bankrupt from his duty under subsection (1) or (2), as the case may be; or
(b)
extend the period specified in subsection (1) or (2).
(5)  Where the Official Assignee has refused to exercise a power conferred by this section, the court, if it thinks fit, may exercise it.
(6)  A bankrupt who —
(a)
without reasonable excuse, fails to comply with the obligation imposed by this section;
(b)
without reasonable excuse, submits a statement of affairs which does not comply with the prescribed requirements;
(c)
submits a statement of affairs which is false, and which he either knows or believes to be false or does not believe to be true; or
(d)
submits a statement of affairs which is misleading in any material particular or contains any material omission,
shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $200 for every day during which the offence continues after conviction.
(7)  Any person stating himself, in writing, to be a creditor of the bankrupt may personally or by agent inspect the statement of affairs filed by the bankrupt under this section at all reasonable times and upon payment of the prescribed fee take any copy thereof or extract therefrom.
(8)  Any person untruthfully stating himself to be a creditor under subsection (7) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $2,000 or to imprisonment for a term not exceeding 6 months or to both.
Bankrupt to submit accounts
82.
—(1)  A bankrupt who has not obtained his discharge shall, unless otherwise directed by the Official Assignee —
(a)
submit to the Official Assignee once in every 6 months an account of all moneys and property which have come to his hands for his own use during the preceding 6 months or such other period as the Official Assignee may specify; or
(b)
pay and make over to the Official Assignee so much of such moneys and property as have not been expended in the necessary expenses of maintenance of himself and his family.
(2)  A bankrupt who fails to comply with subsection (1)(a) or (b) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $200 for every day during which the offence continues after conviction.
Examination of bankrupt and others
83.
—(1)  Where a bankruptcy order has been made, the court may, upon an application made by the Official Assignee or by a creditor who has tendered a proof, at any time before the discharge of the bankrupt —
(a)
summon the bankrupt to appear before it on an appointed day and examine him as to his affairs, dealings and property; and
(b)
summon to appear before it on the same or another appointed day and examine —
(i)
the bankrupt’s spouse or former spouse;
(ii)
any person known or believed to be indebted to the bankrupt or to have in his possession any property comprised in the bankrupt’s estate; and
(iii)
any other person,
if it appears to the court that such person would be able to give information concerning the bankrupt or the bankrupt’s affairs, dealings or property.
(2)  Every person summoned before the court under this section shall be examined on oath, whether orally or by interrogatories.
(3)  Without prejudice to subsection (2), the court may at any time require any person mentioned in subsection (1)(b) to submit an affidavit to the court containing an account of his dealings with the bankrupt or to produce any documents in his possession or under his control relating to the bankrupt or the bankrupt’s affairs, dealings or property.
(4)  The court may adjourn any examination under this section from time to time.
(5)  Any creditor who has tendered a proof or the representative of such creditor who has been authorised in writing, may question the bankrupt or such other person as may have been summoned by the court under subsection (1) concerning the bankrupt’s affairs, dealings or property and the causes of the bankrupt’s failure.
(6)  The Official Assignee shall take part in the examination of the bankrupt, and may for the purpose thereof employ a solicitor, but no solicitor shall be allowed to take part in the examination on behalf of the bankrupt.
(7)  The court may put such questions as it thinks expedient to the bankrupt or to such other person summoned by it.
(8)  It shall be the duty of the bankrupt and any other person summoned by the court under this section to answer all such questions as the court puts or allows to be put to him.
(9)  The court shall cause to be made such record of the examination as the court thinks proper and any record so made may thereafter be used in evidence against the person in the course of whose examination the record was made.
[17/2005]
(10)  Any record made under subsection (9) shall, at all reasonable times and upon payment of the prescribed fee, be made available to any creditor for review at the court premises.
[17/2005]
(11)  Where the court is of the opinion that the affairs of the bankrupt have been sufficiently investigated, it shall, by order, conclude the examination.
(12)  The order under subsection (11) shall not preclude the court from directing a further examination of the bankrupt or any other person as to the bankrupt’s affairs, dealings and property whenever it sees fit to do so.
(13)  Where a bankrupt or any other person summoned by the court under this section without reasonable excuse fails at any time to attend before the court or where there are reasonable grounds for believing that the bankrupt or such other person has absconded, or is about to abscond, with a view to avoiding his appearance before the court under this section, the court may cause a warrant to be issued for his arrest and for the seizure of any books, papers, records, money or goods in his possession.
(14)  The court may authorise —
(a)
any person arrested under subsection (13) to be kept in custody; and
(b)
anything seized from such person to be held,
until that person is brought before the court or until such other time as the court may order.
(15)  Where a bankrupt or any other person summoned by the court under this section without reasonable excuse fails at any time to attend before the court, he shall be guilty of a contempt of court and shall be liable to be punished accordingly in addition to any other punishment to which he may be subject.
(16)  The court may, if it thinks fit, order that any person who if within Singapore would be liable to be summoned to appear before it and examined under this section shall be examined in Singapore or elsewhere.
Power of court following examination of bankrupt and others
84.
—(1)  If it appears to the court, on consideration of any evidence obtained under section 83 that any person has in his possession any property comprised in the bankrupt’s estate, the court may, on the application of the Official Assignee, order that person to deliver the whole or any part of the property to the Official Assignee at such place and time and in such manner and on such terms as the court may think fit.
(2)  If it appears to the court, on consideration of any evidence obtained under section 83 that any person is indebted to the bankrupt, the court may, on the application of the Official Assignee, order that person to pay to the Official Assignee, at such place and time and in such manner as the court may direct, the whole or part of the amount due, whether in full discharge of the debt or otherwise as the court thinks fit.
Unenforceability of liens on books, etc.
85.
—(1)  Subject to this section, a lien or other right to retain possession of any of the books, papers or other records relating to the affairs or property of a bankrupt shall be unenforceable to the extent that its enforcement would deny possession of any books, papers or other records to the Official Assignee.
(2)  Subsection (1) shall not apply to a lien on documents which give a title to property and are held as such.
Official Assignee to settle list of debtors to the estate
86.
—(1)  The Official Assignee shall, as soon as possible after a bankruptcy order has been made, prepare and file in court a list of persons supposed to be indebted to the bankrupt, with the amounts in which they are supposed to be so indebted set out opposite to their names respectively.
(2)  Before finally settling the name and amount of the debt of any person on such list, the Official Assignee shall give notice in writing to that person stating that —
(a)
he has placed that person upon the list of debtors to the estate in the amount in the notice specified; and
(b)
unless that person on or before a day specified in such notice gives to the Registrar and the Official Assignee notice in writing of his intention to dispute his indebtedness, he shall be deemed to admit that the amount set out opposite his name in the list is due and owing by him to the bankrupt and shall be settled on the list accordingly.
(3)  Any person included in the list who does not give notice of his intention to dispute his indebtedness within the time limited in that behalf shall be settled upon that list, and execution may be issued against him for the amount set out opposite his name in the list in the same way as if judgment had been entered against him for such amount in favour of the Official Assignee.
(4)  A certificate by the Registrar that the person named therein has been settled upon such list as a debtor to the estate in the amount in the certificate specified shall be received as proof of the facts therein stated.
(5)  A person settled upon such list under this section may apply to the court in a summary way for leave to dispute his indebtedness or the amount thereof.
(6)  The court may if it thinks fit make such order for determining the question as may seem expedient upon the terms of the person giving security for costs and either paying into court or giving security for the whole or such part of the alleged debt as under the circumstances may seem reasonable, and may stay all further proceedings.