In force2020 Revised Edition

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Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 17 · Administration in Bankruptcy

372. Appropriation of portion of pay or salary to creditors

(1)

Where the bankrupt is an officer of the Singapore Armed Forces or a public officer or otherwise employed or engaged in the public service of the Government, the Official Assignee is to receive for distribution amongst the creditors so much of the bankrupt’s pay or salary as the Court, on the application of the Official Assignee, directs.

(2)

Where a bankrupt is —

(a)

in receipt of a salary or income other than as mentioned in subsection (1); or

(b)

entitled to any half-pay, pension or compensation granted by the Government or any other employer,the Court may, on the application of the Official Assignee, subject to any written law relating to pensions, make such order as the Court thinks just for the payment of the salary, income, half‑pay, pension or compensation or of any part of the salary, income, half-pay, pension or compensation to the Official Assignee, to be applied by the Official Assignee in such manner as the Court directs.

(3)

Nothing in this section abrogates the right of the Government to dismiss a bankrupt or to declare the half‑pay, pension or compensation of any bankrupt to be forfeited.

(4)

In fixing the amount to be received by the Official Assignee under this section, the Court, without affecting subsection (5)(a) but subject to subsection (5)(b), is to have regard to the scale of appropriation of salary in any regulation made for the purposes of this section by the Minister under section 449.

(5)

The Court —

(a)

may, in its discretion, fix a larger or smaller amount than the amount provided in the scale; but(b)must not do any of the following:

(i)

order the payment, on a monthly basis out of the bankrupt’s monthly income, of any amount which exceeds the bankrupt’s monthly contribution;

(ii)

order the payment of any amount which exceeds the difference between the bankrupt’s target contribution and what has been paid towards the bankrupt’s target contribution;

(iii)

order the payment of any amount that is needed for the maintenance of the bankrupt and the bankrupt’s family.

Terms defined in this Act

bankrupt
Defined · s 2
“bankrupt” means —(a)an individual debtor who has been adjudged bankrupt by a bankruptcy order; or(b)where a bankruptcy order has been made against a firm, each of the partners in the firm;
Open s 2
Court
Defined · s 2
“Court” means the General Division of the High Court;
Open s 2
family
Defined · s 273
“family”, in relation to a bankrupt, means the persons (if any) who are living with and dependent on the bankrupt;
Open s 273
income
Defined · s 273
“income” includes all income, whether or not accruing in or derived from Singapore, and whether received in Singapore or elsewhere;
Open s 273
Minister
Defined · s 2
“Minister” means —(a)except as provided in paragraph (b), the Minister charged with the responsibility for administration of affairs of insolvent persons and insolvent companies; and(b)for the purposes of sections 124(1)(g) and (2)(c), 125(5), 127(3) and 198, the Minister charged with the responsibility for registration of companies;
Open s 2
monthly contribution
Defined · s 273
“monthly contribution” means —(a)the amount, determined in accordance with section 339, that a bankrupt is required, under section 371, to pay to the Official Assignee on a monthly basis out of the bankrupt’s income; or(b)if the amount mentioned in paragraph (a) is varied by the Court under section 340(5)(a), 341(1) or 343(4)(a) or reduced by the Official Assignee under section 342(1) or 344(3), that amount as varied or reduced, as the case may be;
Open s 273
officer
Defined · s 61
“officer”, in relation to a corporation, includes —(a)a director or secretary of the corporation, or a person employed in an executive capacity by the corporation;(b)a receiver and manager of any part of the undertaking of the corporation appointed under a power contained in any instrument; and(c)a liquidator of a company appointed in a voluntary winding up,but does not include —(d)a receiver who is not also a manager;(e)a receiver and manager appointed by the Court;(f)a liquidator appointed by the Court or by the creditors; or(g)a judicial manager appointed under Part 7;
Open s 61
Official Assignee
Defined · s 2
“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;
Open s 2
target contribution
Defined · s 273
“target contribution” means —(a)an amount equal to —(i)in any case where the bankruptcy is a repeat bankruptcy, 76 payments of monthly contributions determined in accordance with section 339; or(ii)in any other case, 52 payments of monthly contributions determined in accordance with section 339; or(b)if the amount referred to in paragraph (a) is varied by the Court under section 340(5)(a), 341(1) or 343(4)(a) or reduced by the Official Assignee under section 342(1) or 344(3), that amount as varied or reduced, as the case may be.
Open s 273