Singapore legislation

Section 372

of Insolvency, Restructuring and Dissolution Act 2018

Section 372

Appropriation of portion of pay or salary to creditors

(1)

Where the bankrupt is an officer of the Singapore Armed Forces or a public officer or otherwise employed or engaged in the public service of the Government, the Official Assignee is to receive for distribution amongst the creditors so much of the bankrupt’s pay or salary as the Court, on the application of the Official Assignee, directs.

(2)

Where a bankrupt is —

(a)

in receipt of a salary or income other than as mentioned in subsection (1); or

(b)

entitled to any half-pay, pension or compensation granted by the Government or any other employer,the Court may, on the application of the Official Assignee, subject to any written law relating to pensions, make such order as the Court thinks just for the payment of the salary, income, half‑pay, pension or compensation or of any part of the salary, income, half-pay, pension or compensation to the Official Assignee, to be applied by the Official Assignee in such manner as the Court directs.

(3)

Nothing in this section abrogates the right of the Government to dismiss a bankrupt or to declare the half‑pay, pension or compensation of any bankrupt to be forfeited.

(4)

In fixing the amount to be received by the Official Assignee under this section, the Court, without affecting subsection (5)(a) but subject to subsection (5)(b), is to have regard to the scale of appropriation of salary in any regulation made for the purposes of this section by the Minister under section 449.

(5)

The Court —

(a)

may, in its discretion, fix a larger or smaller amount than the amount provided in the scale; but(b)must not do any of the following:

(i)

order the payment, on a monthly basis out of the bankrupt’s monthly income, of any amount which exceeds the bankrupt’s monthly contribution;

(ii)

order the payment of any amount which exceeds the difference between the bankrupt’s target contribution and what has been paid towards the bankrupt’s target contribution;

(iii)

order the payment of any amount that is needed for the maintenance of the bankrupt and the bankrupt’s family.