Singapore legislation
Clause 19
Clause 19
Amendment of section 78
Section 78(2) of the Bankruptcy Act is amended —
(a)
by deleting paragraph (b) and substituting the following paragraph:“(b)such tools, books, vehicles and other items of equipment as are needed by the bankrupt for the bankrupt’s personal use in the bankrupt’s employment, business or vocation;”;
(b)
by deleting the word “and” at the end of paragraph (c); and
(c)
by deleting the full‑stop at the end of paragraph (d) and substituting a semi‑colon, and by inserting immediately thereafter the following paragraphs:“(e)the remainder of the bankrupt’s monthly income after deducting the bankrupt’s monthly contribution; and
(f)
any annual bonus or annual wage supplement paid as part of the bankrupt’s income.”.