In force2020 Revised Edition

Contents

Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 15 · Debt Repayment Scheme

290. Debtor’s statement of affairs and proposal for repayment of debts, and creditors’ proofs of debts

In plain English

After the court refers a bankruptcy application to the official assignee, the assignee must write to the debtor. The debtor must submit a statement of affairs and a debt repayment plan with a repayment period of up to 5 years. The official assignee must then ask every creditor named in the statement to file a proof of debt.

Summary · Drafted with AI, checked against the official text on 30 Sep 2026.

(1)

After the Court adjourns a bankruptcy application made against a debtor and refers the matter to the Official Assignee under section 316(9) or 318(3), the Official Assignee must, by notice in writing to the debtor, require the debtor to submit in such form and manner, and within such time, as may be specified by the Official Assignee in the notice —

(a)

a statement of the debtor’s affairs; and

(b)

a debt repayment plan, with a repayment period not exceeding 5 years, setting out the terms for the repayment of the debtor’s debts,and the debtor must comply with the notice.

(2)

After receiving the debtor’s statement of affairs under subsection (1), the Official Assignee must send a notice to every creditor disclosed in the statement, requiring the creditor to file a proof of debt within such time as may be specified by the Official Assignee in the notice.

(3)

Section 294 applies to a proof of debt filed under this Division as if it is a proof of debt filed under a debt repayment scheme.