Singapore legislation

Clause 20

of Bankruptcy (Amendment) Bill

Clause 20

Amendment of section 104

Section 104 of the Ordinance is hereby amended —

(a)

by deleting subsection (1) thereof and substituting therefor the following: —“(1) Where in the opinion of the court a debtor ought not to have been adjudged bankrupt, or where it is proved to the satisfaction of the court that the debts of the bankrupt are paid in full, or where it appears to the court that proceedings are pending in Malaysia for the distribution of the bankrupt’s estate and effects among his creditors under the bankruptcy or insolvency laws of Malaysia and that the distribution ought to take place in Malaysia, the court may annul the adjudication.”; and

(b)

by inserting immediately after subsection (4) thereof, the following new subsection: —“(5) When the court annuls the adjudication under this section it shall also rescind the receiving order.”.