Singapore legislation
Clause 144
Clause 144
Bankrupt incurring debt without reasonable ground of expectation of being able to pay it
A bankrupt shall be guilty of an offence if —
(a)
within 12 months before the presentation of a bankruptcy petition by or against him or during the initial period, he incurs any debt provable in bankruptcy; or
(b)
having been engaged in carrying on any trade or business, he continues to trade or carry on business by incurring any debt provable in bankruptcy within 12 months before the date of the presentation of a bankruptcy petition by or against him or during the initial period, he being insolvent on the date of incurring the debt,without any reasonable ground of expectation of being able to pay it.