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Cap. 6activeordinance

Bankruptcy Ordinance

破產條例

Full legislation

s.143

143.
(Omitted as spent—
E.R. 1 of 2019
)

Table of Contents

Sections

2ASpecified means
6ADefinition ofinability to pay, etc.; the statutory demand
6BCreditor with security
6CExpedited petition
6DProceedings on creditor’s petition
15Power to appoint special manager
16Publication of notice of bankruptcy order
17Power to make appointment of trustees
17ASummoning of meeting to appoint first trustee
17BPower of creditors to requisition meeting
18Statement of affairs
19Public examination of bankrupt
19A
20Interim order
20AApplication for interim order
20BEffect of application
20CCases in which interim order can be made
20DNominee’s report on debtor’s proposal
20ESummoning of creditors’ meeting
20FDecisions of creditors’ meeting
20GReport of decisions to court
20HEffect of approval
20IEffect where debtor an undischarged bankrupt
20JChallenge of meeting’s decision
20KImplementation and supervision of approved voluntary arrangement
20LDefault in connection with voluntary arrangement
21
22
23Provisions where person other than Official Receiver is appointed trustee
24Creditors’ committee
25
26Duties of debtor as to discovery and realization of property
27Arrest of debtor under certain circumstances
28Re-direction of bankrupt’s telegrams and letters
29Inquiry as to bankrupt’s conduct, dealings and property
30Commencement and continuance of bankruptcy
30ANon-commencement of relevant period: court order and trustee’s notice
30BEarly discharge of bankrupt
30CBankruptcy order made beforesections 30 to 30Bcome into operation
30DOrder for production of documents by Commissioner of Inland Revenue
30ESupplies of gas, water, electricity, etc.
31
32Effect of order of discharge
33Court’s power to annul bankruptcy order
34Description of debts provable in bankruptcy
35Mutual credit and set-off
36Rules as to proof of debts
37Priority of costs and charges
38Priority of debts
39Preferential claims in case of apprenticeship
40Landlord’s power of distress
41Spouse’s claim postponed
42Restrictions on dispositions of property
43Definition ofbankrupt’s estate
43AAfter-acquired property
43BVesting in trustee of certain items of excess value
43CTime-limit for notice undersection 43Aor43B
43DApplication by bankrupt or creditor to include or exclude items from the bankrupt’s estate
43EIncome payments orders
43FContinuing occupation of family home
44Provisions as to second bankruptcy
45Restriction of rights of creditor under execution or attachment
46Duties of bailiff as to goods taken in execution
47
48Avoidance of general assignments of book debts unless registered
49Transactions at an undervalue
49A
50Unfair preferences
51Relevant timeundersections 49 and 50
51AOrders undersections 49 and 50
51BMeaning ofassociate
52Dealings with undischarged bankrupt
53Possession of property by trustee
54Seizure of property of bankrupt
55Sale of property out of Hong Kong
56
57
58Vesting and transfer of property
59Disclaimer of onerous property
60Powers of provisional trustee and trustee to deal with property of the bankrupt
61Powers exercisable by trustee with permission of creditors’ committee
61AControl of trustee by court
62Power to allow bankrupt to manage property
63Allowance to bankrupt for maintenance or service
64Right of trustee to inspect goods pawned, etc.
65Limitation of trustee’s powers in relation to copyright
66Protection of Official Receiver and trustee from personal liability in certain cases
67Declaration and distribution of dividends
68Joint and separate dividends
69Provision for creditors residing at a distance, etc.
70Right of creditor who has not proved debt before declaration of a dividend
71Interest on debts
71AExtortionate credit transactions
72Final dividend
73No action for dividend
74Right of bankrupt to surplus
74AInterpretation
74BOffice and functions of Official Petitioner
74CEffect of criminal bankruptcy order
75Appointment of Official Receiver and other officers
76Status of Official Receiver
76ATransitional provision
77Duties of Official Receiver as regards the bankrupt’s conduct
78Duties of Official Receiver as to bankrupt’s estate
79Official name of trustee and provisional trustee
79ADisqualification for appointment as trustee
79BCorrupt inducement affecting appointment as trustee
80Power to appoint joint or successive trustees and provisional trustees
81Proceedings in case of vacancy in office of trustee
81AVacancy in office of provisional trustee
82Discretionary powers of trustee and control thereof
83Appeal to court against trustee
84Control of court over trustee
85Remuneration of trustee
85ARemuneration of provisional trustee and the first trustee constituted undersection 112A
86Allowance and taxation of costs
86ADuties of trustee as regards the bankrupt’s conduct
86BDuties of trustee as regards the bankrupt’s estate
87Trustee to provide list of creditors
88Trustee to provide statement of accounts
89Statement of proceedings
90Trustee not to pay into private account
91Payment of moneys into bank
92Record and account to be kept by trustee
93Audit of trustee’s accounts
94Release of trustee
95Office of trustee vacated by insolvency
96Removal of trustee
97General power of court
98Review and appeals in bankruptcy
99General rules of procedure
99AJurisdiction of Registrar
100Discretionary powers of court
100ACourt may make a regulating order
100BFirst meeting and composition
100C
100DAppointment and removal of trustee after the making of regulating order
100ECreditors’ committee
100FInforming creditors and ascertaining their wishes
100GCreditors to give notice of intention to take part in public examination
100HProof of debts in the case of banks
101Consolidation of petitions
102Power to change carriage of proceedings
103Continuance of proceedings on death of debtor
104Power to stay proceedings
105Power to present petition against one partner
106Power to dismiss petition against some respondents only
107Actions by trustee and bankrupt’s partners
108Actions on joint contracts
109Proceedings in partnership name
110Disobedience to order of court
111Exclusion of corporations, companies and limited partnerships
112Administration in bankruptcy of estate of person dying insolvent
112AApplication of Ordinance to small bankruptcies
113Power to make general rules
114Fees and remuneration
115Disposal of Official Receiver’s fees
116Evidence of proceedings at meetings of creditors
117Evidence of proceedings in bankruptcy
118Swearing of affidavits
119Death of debtor or witness
120Statements made to Official Receiver or trustee through an interpreter
121Certificate of appointment of trustee
122Computation of time
122AOfficial Receiver may specify forms
122BOfficial Receiver may specify requirements relating to documents
122CCircumstances in which documents are to be regarded as not having been sent
123Service of notices
124Formal defect not to invalidate proceedings
125Exemption of documents from stamp duty
126Acting of corporations, partners, etc.
127Certain provisions to bind Government
128Unclaimed and undistributed dividends or funds
128ADeposit of surplus cash balances
129Fraudulent debtors
130Certain offences by persons other than the bankrupt
131Undischarged bankrupt obtaining credit
132Frauds by bankrupts, etc.
133Bankrupt guilty of gambling, etc.
134Bankrupt failing to keep proper accounts
135Bankrupt absconding with property
136Debtor concealing himself to avoid service, etc.
137
138Order by court for prosecution on report of trustee
139Criminal liability after discharge or composition
140Trial and punishment of offences
141Evidence as to frauds by agents
142Summary prosecution
143
1Interpretation
2Entitlement to present bankruptcy petition
3Creditors and criminal bankruptcy debts
4Criminal bankruptcy petition
5Receiving order
6Trustee of criminal bankrupt’s property
7Proof of criminal bankruptcy debt in bankruptcy proceedings
8Recovery of assets for benefit of criminal bankrupt’s creditors
9Administration in bankruptcy of deceased offender’s estate
10Bankruptcy proceedings otherwise than by virtue of this Schedule
11Effect of appeal against conviction
12Presentation of criminal bankruptcy petition by Official Petitioner
13Presentation of criminal bankruptcy administration petition by Official Petitioner
14Participation of Official Petitioner in proceedings brought by virtue of this Schedule(whether by the Official Petitioner or by a creditor)

Schedules

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