Transitional Provisions and Savings
1.—(1) A person who was a bankrupt on 15th July 1995 continues to be a bankrupt until he is discharged, or his bankruptcy is rescinded or annulled, under this Act; and the provisions of this Act shall apply to and in relation to that bankrupt as if he had become a bankrupt under this Act.
(2) All orders and applications made, notices and consents given, matters advertised, meetings held, resolutions passed, compositions, schemes of arrangement or deeds accepted or approved, debts proved and acts and things done before 15th July 1995 in relation to a bankrupt or the property of a bankrupt shall, in relation to the administration of the conduct and affairs of the bankrupt and his property under this Act, be deemed to have been made, given, advertised, held, passed, accepted or approved, proved or done under this Act.
2.—(1) Where —
a bankruptcy notice under the repealed Act has been served on a debtor before 15th July 1995; and
the debtor has failed, whether before or after 15th July 1995, to comply with the notice,
a bankruptcy petition may be presented against the debtor under the repealed Act, and proceedings in relation to the petition may, subject to sub-paragraph (3), be taken and had under that Act as if this Act had not been enacted.
(2) Where a bankruptcy petition has been presented against a debtor under the repealed Act before 15th July 1995, but an adjudication order has not been made on the petition, and the petition has not been withdrawn or dismissed before that date, proceedings in relation to the petition may, subject to sub-paragraph (3), be continued, or taken and had, after that date under the repealed Act as if this Act had not been enacted.
(3) Where a person becomes a bankrupt on a petition to which sub-paragraph (1) or (2) applies, all subsequent proceedings in relation to the bankrupt or his estate shall be taken and had, and this Act shall apply as if he had become a bankrupt on a creditor’s petition presented under this Act.
(4) Any proceedings (including the hearing of an appeal) in a court or before the Registrar under the repealed Act that had not been completed before 15th July 1995 may be continued and completed, and any right of appeal in relation to those proceedings may be exercised and the appeal heard and determined as if this Act had not been enacted.
(5) Any right of appeal from an order of a court having jurisdiction under the repealed Act, being an order made before 15th July 1995, may be exercised, and the appeal heard and determined, after that date, as if this Act had not been enacted.
(6) Any right of appeal to a court having jurisdiction in bankruptcy under the repealed Act from an act or decision of the Official Assignee, the Registrar or any other officer under the repealed Act done or made before 15th July 1995 and any right to apply to such a court to review such an act or decision may be exercised, and the appeal or application heard and determined, by the High Court.
(7) In relation to any such case as is mentioned in sub-paragraph (1), the references in any written law to a petition, order or other matter which is provided for under the repealed Act and corresponds to a petition, order or other matter provided for under the provisions of this Act shall continue on and after 15th July 1995 to give effect as references to the petition, order or matter provided for by the repealed Act; but otherwise those references shall have effect on and after that date as references to the petition, order or matter provided for by those provisions of this Act.
Application of section 148 to existing estates of deceased debtors
3.—(1) Where an order for the administration in bankruptcy of a deceased debtor’s estate has been made under Part VIII of the repealed Act, but the administration of the estate has not been completed before 15th July 1995, the estate of the deceased debtor shall, subject to this paragraph, be administered and distributed as if an order for administration of the estate had been made under section 148 of this Act, and the provisions of that section shall apply in relation to the estate accordingly.
(2) All orders and applications made, notices and consents given, matters advertised, meetings held, resolutions passed, debts proved and acts and things done before 15th July 1995 in relation to the estate of a deceased debtor shall, in relation to the administration and distribution of the estate under section 148 of this Act, be deemed to have been made, given, advertised, held, passed, proved or done under that section.
4. Where a bankruptcy order is made under this Act on or after 15th July 1995 on a petition to which paragraph 2(1) or (2) applies, a person shall not be guilty of an offence under Part X of this Act in respect of anything done before that date; but shall be guilty of an offence under the repealed Act in respect of anything done before that date which would have been an offence under that Act if the making of the bankruptcy order had been the making of a receiving order or an adjudication order under that Act.
Schedule to be without prejudice to section 166
5.—(1) This Schedule shall be without prejudice to the power conferred by this Act under which rules under section 166 of this Act may make transitional provision in connection with the coming into force of those rules; and such provision may apply those rules in relation to a bankruptcy notwithstanding that it arose from a petition presented before either the coming into force of the rules or 15th July 1995.
6.—(1) A transaction entered into before 15th July 1995 shall not be set aside under this Act except to the extent that it could have been set aside under the law in force immediately before that date.
(2) References in sub-paragraph (1) to setting aside a transaction shall include the making of any order which varies or reverses any effect of such a transaction.
7.—(1) Where any period of time specified in a provision of the repealed Act is current immediately before 15th July 1995, this Act shall have effect as if the corresponding provision had been in force when the period began to run; and (without prejudice to the foregoing) any period of time so specified and current shall be deemed for the purposes of this Act —
to run from the date or event from which it was running immediately before that date; and
to expire (subject to any provision of this Act for its extension) whenever it would have expired if this Act had not been enacted.
(2) Any rights, priorities, liabilities, reliefs, obligations, requirements, powers, duties or exemptions dependent on the beginning, duration or end of such a period as mentioned in sub-paragraph (1) shall be under this Act as they were or would have been under the repealed Act.
8.—(1) Offences committed before 15th July 1995 under any provision of the repealed Act may, notwithstanding any repeal by this Act, be prosecuted and punished after that date as if this Act had not been enacted.
(2) Where an offence for the continuance of which a penalty was provided has been committed under any provision of the repealed Act, proceedings may be taken under this Act in respect of the continuance of the offence on and after 15th July 1995 in the like manner as if the offence had been committed under the corresponding provision of this Act.
9. Nothing in this Schedule shall be taken as prejudicing section 16 of the Interpretation Act (Cap. 1) (effect of repeal).
10. In this Schedule, “repealed Act” means the Bankruptcy Act (Cap. 20, 1985 Ed.) in force immediately before 15th July 1995.