Singapore legislation

Clause 400

of Insolvency, Restructuring and Dissolution Bill

Clause 400

Disqualification of bankrupt

(1)

In addition to any disqualification under any other written law, a bankrupt is disqualified from being appointed or acting as a trustee or personal representative in respect of any trust, estate or settlement, except with the leave of the Court.

(2)

Any disqualification to which a bankrupt is subject under this section ceases when —

(a)

the bankruptcy order against the bankrupt is annulled or rescinded; or

(b)

the bankrupt is discharged under Part 18.

(3)

Any person who acts as a trustee or personal representative while that person is disqualified by virtue of subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both.

Read in full context — Insolvency, Restructuring and Dissolution Bill →