Bankruptcy Ordinance

(1)
Where a creditor has issued execution against the property of a bankrupt or has
                attached any debt due to him, he shall not be entitled to retain the benefit of the
                execution or attachment against the trustee of the bankrupt unless he had completed
                the execution or attachment before the date of the bankruptcy order and before
                notice of the presentation of any bankruptcy petition by or against the
                    bankrupt.
(Amended
76 of 1996 ss. 33
& 73;
18 of 2005 s. 13
)
(2)
For the purposes of this
Ordinance—
(a)
an execution against goods is completed by seizure and sale or by the
                    making of a charging order under
section 20
of the High Court
                    Ordinance (
Cap. 4
);
(Amended
25 of 1998 s. 2
)
(b)
an attachment of a debt is completed by the receipt of the debt;
                    and
(c)
an execution against land is completed by seizure, by the appointment of a
                    receiver, or by the making of a charging order under the said
section
                        20
.
(Replaced
52 of 1987 s. 44
)
(3)
(Repealed
76 of 1996 s. 33
)
(4)
The rights conferred by this section on the trustee in relation to executions
                against the property of the bankrupt and attachment of debts due to the bankrupt may
                be set aside by the court in favour of the creditor to such extent and subject to
                such terms as the court may think fit.
(Added
47 of 1984 s. 6
. Amended
76 of 1996 s. 33
)
[cf. 1914 c. 59 s. 40 U.K.]