Singapore legislation
Clause 14
Clause 14
Amendment of section 100
Section 100 of the Bankruptcy Act is amended —
by deleting paragraphs (a), (b) and (c) of subsection (1) and substituting the following paragraphs:“(a)in the case of a transaction at an undervalue —
where the bankruptcy application on which the individual is adjudged bankrupt is based on a presumption referred to in section 62(d), within the period commencing 5 years before the day on which the relevant bankruptcy application is made and ending on the day of the making of the bankruptcy application on which the individual is adjudged bankrupt; or
in any other case, within the period of 5 years ending on the day of the making of the bankruptcy application on which the individual is adjudged bankrupt;
in the case of an unfair preference which is not a transaction at an undervalue and which is given to a person who is an associate of the individual (otherwise than by reason only of being his employee) —
where the bankruptcy application on which the individual is adjudged bankrupt is based on a presumption referred to in section 62(d), within the period commencing 2 years before the day on which the relevant bankruptcy application is made and ending on the day of the making of the bankruptcy application on which the individual is adjudged bankrupt; or
in any other case, within the period of 2 years ending on the day of the making of the bankruptcy application on which the individual is adjudged bankrupt; or
in any other case of an unfair preference which is not a transaction at an undervalue —
where the bankruptcy application on which the individual is adjudged bankrupt is based on a presumption referred to in section 62(d), within the period commencing 6 months before the day on which the relevant bankruptcy application is made and ending on the day of the making of the bankruptcy application on which the individual is adjudged bankrupt; or
in any other case, within the period of 6 months ending on the day of the making of the bankruptcy application on which the individual is adjudged bankrupt.”; and
by inserting, immediately after subsection (4), the following subsection:“(5) In this section, “relevant bankruptcy application” means the bankruptcy application made against an individual that resulted in the debt repayment scheme referred to in section 62(d) in respect of the individual.”.