Singapore Government
Link to AGC Website
Home | Search | Browse | Results | My Preferences
 
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

 
Slider
Left Corner
Print   Permalink
On 18/06/2013, you requested for the version in force on 18/06/2013 incorporating all amendments published on or before 18/06/2013. The closest version currently available is that of 01/03/2012.
Slider
Discharge by court
124.
—(1)  The Official Assignee, the bankrupt or any other person having an interest in the matter may, at any time after the making of a bankruptcy order, apply to the court for an order of discharge.
(2)  Every such application shall be served on each creditor who has filed a proof of debt and on the Official Assignee if he is not the applicant, and the court shall hear the Official Assignee and any creditor before making an order of discharge.
(3)  Subject to subsection (4), on an application under this section, the court may —
(a)
refuse to discharge the bankrupt from bankruptcy;
(b)
make an order discharging him absolutely; or
(c)
make an order discharging him subject to such conditions as it thinks fit to impose, including conditions with respect to —
(i)
any income which may be subsequently due to him; or
(ii)
any property devolving upon him, or acquired by him, after his discharge,
as may be specified in the order.
(4)  Where the bankrupt has committed an offence under this Act or under section 421, 422, 423 or 424 of the Penal Code (Cap. 224) or upon proof of any of the facts mentioned in subsection (5), the court shall —
(a)
refuse to discharge the bankrupt from bankruptcy;
(b)
make an order discharging him subject to his paying a dividend to his creditors of not less than 25% or to the payment of any income which may be subsequently due to him or with respect to property devolving upon him, or acquired by him, after his discharge, as may be specified in the order, and to such other conditions as the court may think fit to impose; or
(c)
if it is satisfied that the bankrupt is unable to fulfil any condition specified in paragraph (b) and if it thinks fit, make an order discharging the bankrupt subject to such conditions as the court may think fit to impose.
(5)  The facts referred to in subsection (4) are —
(a)
that the bankrupt has omitted to keep such books of accounts as would sufficiently disclose his business transactions and financial position within the 3 years immediately preceding his bankruptcy, or within such shorter period immediately preceding that event as the court may consider reasonable in the circumstances;
(b)
that the bankrupt has continued to trade after knowing or having reason to believe himself to be insolvent;
(c)
that the bankrupt has contracted any debt provable in the bankruptcy without having at the time of contracting it any reasonable ground of expectation (proof whereof shall lie on him) of being able to pay it;
(d)
that the bankrupt has brought on or contributed to his bankruptcy by rash speculations or extravagance in living, or by recklessness, or want of reasonable care and attention to his business and affairs;
(e)
that the bankrupt has delayed or put any of his creditors to unnecessary expense by a frivolous or vexatious defence to any action or other legal proceedings properly brought or instituted against him;
(f)
that the bankrupt has, within 3 months immediately preceding the date of the bankruptcy order, when unable to pay his debts as they became due, given an undue preference to any of his creditors;
(g)
that the bankrupt has, in Singapore or elsewhere on any previous occasion, been adjudged bankrupt or made a composition or an arrangement with his creditors;
(h)
that the bankrupt has been guilty of any fraud or fraudulent breach of trust;
(i)
that the bankrupt has, within 3 months immediately preceding the date of the bankruptcy order, sent goods out of Singapore under circumstances which afford reasonable grounds for believing that the transaction was not a bona fide commercial transaction;
(j)
that the bankrupt’s assets are not of a value equal to 20% of the amount of his unsecured liabilities, unless he satisfies the court that the fact that the assets are not of a value equal to 20% of his unsecured liabilities has arisen from circumstances for or in respect of which he cannot firstly be held blamable;
(k)
that the bankrupt has entered into a transaction with any person at an undervalue within the meaning of section 98;
(l)
that the bankrupt has given an unfair preference to any person within the meaning of section 99; and
(m)
that the bankrupt has made a general assignment to another person of his book debts within the meaning of section 104.
(6)  The court may, at any time before an order of discharge takes effect, rescind or vary the order.