Singapore legislation

Clause 141

of Bankruptcy Bill

Clause 141

Obtaining credit; engaging in business

(1)

A bankrupt shall be guilty of an offence if, being an undischarged bankrupt —

(a)

either alone or jointly with any other person, he obtains credit to the extent of $500 or more from any person without informing that person that he is an undischarged bankrupt; or

(b)

he engages in any trade or business under a name other than that under which he was adjudicated bankrupt without disclosing to all persons with whom he enters into any business transaction the name under which he was adjudicated bankrupt.

(2)

In this section, any reference to a bankrupt obtaining credit shall be read as including any case in which —

(a)

goods are bailed to him under a hire-purchase agreement; and

(b)

he is paid in advance (whether in money or otherwise) for the supply of goods or services.