Singapore legislation

Regulation 69

of Insolvency, Restructuring and Dissolution (Bankruptcy) Regulations 2020

Regulation 69

Service of copy of notice of disclaimer on interested persons

Subregulation 1

The trustee of a bankrupt’s estate disclaiming any onerous property must, within 14 days after the date of the notice of disclaimer, serve a copy of the notice to —

(a)

in a case where the property is an unprofitable contract under section 373(2)(a) of the Act — any person who, to the trustee’s knowledge, is a party to the contract or has an interest under the contract;

(b)

in a case where the property is of a leasehold nature mentioned in section 374 of the Act — any person who is claiming under the bankrupt as sub-lessee or mortgagee mentioned in section 374(1) of the Act; and

(c)

in any case — any person who (to the trustee’s knowledge) —

(i)

claims an interest in the disclaimed property; or

(ii)

is under a liability in respect of the disclaimed property, not being a liability discharged by the disclaimer.

Subregulation 2

If subsequently, it comes to the trustee’s knowledge that any person has such an interest in the disclaimed property that would have entitled the person to receive a copy of the notice of disclaimer under paragraph (1), the trustee must then as soon as reasonably practicable serve on that person a copy of the notice.