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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 21/05/2013, you requested for the version in force on 21/05/2013 incorporating all amendments published on or before 21/05/2013. The closest version currently available is that of 01/03/2012.
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Implementation and supervision of approved voluntary arrangement
55.
—(1)  Where a voluntary arrangement approved by a creditors’ meeting summoned under section 50 has taken effect, the nominee shall supervise the implementation of the voluntary arrangement.
(2)  If the debtor or any of his creditors is dissatisfied by any act, omission or decision of the nominee in his supervision of the implementation of the voluntary arrangement, the debtor or creditor may apply to the court to review that act, omission or decision.
(3)  On hearing an application under subsection (2), the court may —
(a)
confirm, reverse or modify any act or decision of the nominee; or
(b)
give such directions to the nominee or make such order as it thinks fit.
(4)  The nominee may apply to the court for directions in relation to any particular matter arising under the voluntary arrangement.
(5)  The court may, whenever —
(a)
it is expedient to appoint a person to carry out the functions of the nominee; and
(b)
it is inexpedient, difficult or impracticable for such an appointment to be made without the assistance of the court,
make an order appointing a person who is qualified to act as a nominee, either in substitution for the existing nominee or to fill a vacancy.