Singapore legislation
Section 292
Section 292
Commencement and administration of debt repayment scheme
(1)
A debt repayment scheme commences in respect of a debtor on the date on which a debt repayment plan comes into effect under section 291(8) in respect of that debtor.
(2)
The Official Assignee —
must administer all debt repayment schemes under this Part; and
may charge such fees as may be prescribed in respect of such administration.
(3)
Upon the commencement of a debt repayment scheme in respect of a debtor, the Official Assignee must pay out from the Bankruptcy Estates Account and into the Debt Repayment Schemes Account the balance of any deposit paid by the applicant creditor to the Official Assignee in respect of the relevant bankruptcy application made against the debtor, for the purpose of discharging the costs and expenses incurred by the Official Assignee in the administration of the scheme.