In force2020 Revised Edition

Contents

Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 18 · Annulment and Discharge

393. Annulment of bankruptcy order by certificate of Official Assignee where debts and expenses fully paid

(1)

The Official Assignee may issue a certificate annulling a bankruptcy order if it appears to the Official Assignee that, to the extent required by the regulations, the debts which have been proved and the expenses of the bankruptcy have all, since the making of the order, been paid.

(2)

Notice of every certificate of annulment under subsection (1) must be given to the Registrar and be published in the Gazette and in such other manner as the Official Assignee thinks fit.

(3)

The Official Assignee must, upon an application of a bankrupt or a bankrupt’s creditor, issue to the applicant a copy of the certificate of annulment upon the payment of the prescribed fee.

(4)

A certificate of annulment issued under subsection (1) is binding on all the creditors so far as it relates to any debts due to them from the bankrupt and provable in bankruptcy.

(5)

Where the Official Assignee annuls a bankruptcy order under this section, any sale or other disposition of property, payment made or other things duly done by or under the authority of the Official Assignee or by the Court is valid, except that the property of the bankrupt reverts to the bankrupt or, on an application by any person interested, vests in such person as the Court may appoint and on such terms as the Court may direct.

(6)

The Court may include in its order such supplemental provisions as may be authorised by the regulations.