Singapore legislation
Regulation 9
of Insolvency, Restructuring and Dissolution (Debt Repayment Scheme) Regulations 2020
Regulation 9
Preliminary assessment of aggregate debt owed
Subregulation 1
Upon receiving the duly completed statement of affairs from the debtor under section 290(1) of the Act, the Official Assignee must determine the aggregate amount of the debtor’s debts as stated in the statement of affairs.
Subregulation 2
If the aggregate amount of the debtor’s debts exceeds the amount mentioned in regulation 4(1), the Official Assignee must inform the debtor and every applicant creditor of the debtor, of the debtor’s unsuitability for a debt repayment scheme on that ground.