Bankruptcy Ordinance

(1)
Subject to this section, the trustee may by notice in writing claim for the
                bankrupt’s estate any property which has been acquired by, or has devolved upon, the
                bankrupt since the commencement of the bankruptcy.
(2)
A notice under this section shall not be served in respect
of—
(a)
any property falling within
section 43(2)
or (3); or
(b)
any property which is acquired by, or devolves upon, the bankrupt after his
                    discharge.
(3)
Subject to subsection (4), upon the service on the bankrupt of a notice under
                this section the property to which the notice relates shall vest in the trustee as
                part of the bankrupt’s estate; and the trustee’s title to that property has relation
                back to the time at which the property was acquired by, or devolved upon, the
                bankrupt.
(4)
Where, whether before or after service of a notice under this
section—
(a)
a person acquires property in good faith, for value and without notice of
                    the bankruptcy; or
(b)
a banker enters into a transaction in good faith and without such
                    notice,
the trustee is not in respect of that property or transaction entitled by
                virtue of this section to any remedy against that person or banker, or any person
                whose title to any property derives from that person or banker.
(5)
References in this section to property do not include any property which, as
                part of the bankrupt’s income, may be the subject of an income payments order under
section 43E
.
(6)
For the purposes of this section, an undischarged bankrupt shall submit to the
                trustee on each anniversary of the making of the bankruptcy order against him, a
                statement of his earnings during the preceding year and details of any property he
                acquired during that period.
(6A)
For the purposes of subsection (6), if the trustee is the Official Receiver,
                the statement must be in the specified form.
(Added
22 of 2023 s. 4
)
(7)
A bankrupt who fails or refuses to comply with subsection (6) is guilty of an
                offence and is liable to imprisonment for 6 months.
(8)
The court may refuse to discharge a bankrupt who has not complied with
                subsection (6).