Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 15 · Debt Repayment Scheme
303. Duties of debtor
Feedback & supportA debtor must, in addition to any other duty specified in this Part in relation to a debt repayment scheme —
debtor
“debtor” means the individual to whom a debt repayment scheme applies under this Part;
disclose to the Official Assignee —
Official Assignee
“Official Assignee” means the Official Assignee appointed under section 16(1) and includes a Deputy Official Assignee, a Senior Assistant Official Assignee and an Assistant Official Assignee;
all the debtor’s property; and
property
“property” includes —(a)money, goods, things in action, land and every description of property, wherever situated; and(b)obligations and every description of interest, whether present or future or vested or contingent, arising out of or incidental to property;
the disposal of any of the debtor’s property during the period commencing 5 years before the day on which the relevant bankruptcy application is made against the debtor and ending on the day immediately preceding the completion of the scheme;
relevant bankruptcy application
“relevant bankruptcy application”, in relation to a debtor under a debt repayment scheme, means the bankruptcy application adjourned by the Court under section 316(9) or 318(3) which enabled the Official Assignee to determine the debtor’s suitability for the scheme and to implement the scheme;
furnish such information or document within such time and in such manner as the Official Assignee or the Appeal Panel may require in relation to the scheme;
document
“document” includes any summons, order or other legal process, any notice and any register;
attend any meeting of the debtor’s creditors convened by the Official Assignee under section 291 or 295, and such other meetings as may be required by the Official Assignee, unless prevented by any illness or other sufficient cause;
examine the correctness of all proofs of debts filed under the scheme and inform the Official Assignee if any person has, to the debtor’s knowledge or belief, made a false or an inaccurate claim;
discharge the debtor’s obligations under the debt repayment plan under the scheme;
debt
“debt” means any debt, or any liability to pay money, that is unsecured, present, certain, and of an amount that is fixed or liquidated;
before incurring any debt in excess of $1,000 after the effective date of the scheme, disclose the fact that the debtor is subject to the scheme to the person to whom the debt is to be owed;
effective date
“effective date”, in relation to a debt repayment scheme, means the date on which the scheme commences under section 292(1);
keep the Official Assignee advised at all times of the debtor’s place of residence and such other contact details as may be required by the Official Assignee; and
generally do all such acts and things in relation to the scheme as may be reasonably required by the Official Assignee or as may be prescribed.