Singapore legislation

Section 395

of Insolvency, Restructuring and Dissolution Act 2018

Section 395

Discharge by certificate of Official Assignee

(1)

The Official Assignee may, in his or her discretion and subject to section 396, issue a certificate discharging a bankrupt from bankruptcy.

(2)

The Official Assignee must not issue a certificate discharging a bankrupt from bankruptcy under subsection (1) unless —

(a)

in any case where the bankruptcy is not a repeat bankruptcy of the bankrupt —

(i)

both of the following apply:

(A)

the target contribution has been paid in full, or the Official Assignee is satisfied that the bankrupt is unable to pay the target contribution in full due to extenuating circumstances;

(B)

either —

(BA)a period of 3 years has lapsed after the administration date of the bankruptcy, and no objection to the discharge is entered by the relevant threshold of creditors; or

(BB)a period of 5 years has lapsed after the administration date of the bankruptcy; or

(ii)

a period of 7 years has lapsed after the administration date of the bankruptcy; or

(b)

in any case where the bankruptcy is a repeat bankruptcy of the bankrupt —

(i)

both of the following apply:

(A)

the target contribution has been paid in full, or the Official Assignee is satisfied that the bankrupt is unable to pay the target contribution in full due to extenuating circumstances;

(B)

either —

(BA)a period of 5 years has lapsed after the administration date of the bankruptcy, and no objection to the discharge is entered by the relevant threshold of creditors; or

(BB)a period of 7 years has lapsed after the administration date of the bankruptcy; or

(ii)

a period of 9 years has lapsed after the administration date of the bankruptcy.

(3)

Notice of every discharge under subsection (1) must be given to the Registrar and be published in the Gazette and in such other manner as the Official Assignee thinks fit.

(4)

The Official Assignee —

(a)

must, upon the application of a bankrupt, any creditor of the bankrupt or any other interested person, and upon the payment of the prescribed fee, issue to the applicant a copy of the certificate discharging the bankrupt from bankruptcy; but(b)must not issue any copy of such certificate to any person except the bankrupt, where —

(i)

the bankrupt’s target contribution was paid in full before the bankrupt’s discharge from bankruptcy; and

(ii)

5 years have lapsed after the date of discharge.

(5)

For the purposes of calculating the periods of time mentioned in subsection (2), there must be disregarded any period —

(a)

during which the bankrupt was outside Singapore; and

(b)

for which the bankrupt did not obtain the Official Assignee’s permission to leave, remain or reside outside Singapore.

(6)

In this section —

Definition

“extenuating circumstances” means any of the following circumstances:

(a)

the death of the bankrupt;

(b)

any personal circumstances of the bankrupt (including, but not limited to, debilitating illness) that prevent the bankrupt from earning a meaningful salary for the remaining period of the bankruptcy before the expiry of —

(i)

where the bankruptcy is not a repeat bankruptcy of the bankrupt, the period mentioned in subsection (2)(a)(ii); or

(ii)

where the bankruptcy is a repeat bankruptcy of the bankrupt, the period mentioned in subsection (2)(b)(ii);

Definition

“relevant threshold of creditors” means not less than half in number or more than one‑fourth in value, or both, of the creditors who have proved their debts.

Read in full context — Insolvency, Restructuring and Dissolution Act 2018 →