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Automatic Discharge of Bankruptcy in Malaysia

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asked on Jan 21, 2018 at 02:21
by   Malaysian Citizen
edited on Feb 20, 2018 at 04:41
 
Has anybody successful apply for automatic discharge under the new Insolvency Act 1967? I am very confused with this provision (b). What must a bankrupt follow to apply for automatic discharge?

Automatic Discharge
The Amendment Act introduces provisions for an automatic discharge of a bankrupt upon the expiry of three years from the date of submission of the statement of affairs by the bankrupt if he has: (a) achieved an amount of target contribution of his provable debt; and (b) complied with the requirement to render an account of moneys and property to the DGI.
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answered on Jan 25, 2018 at 21:44
by   guest
edited Feb 20, 2018 at 04:46
 
I think it is only applicable for the people who are adjudged bankrupt after the amendment was gazetted.

If you are a bankrupt before the new amendment of the act was gazetted, then still stuck to old act..
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