Insolvency Act 1967 [Act 360]   cite [+]

ARRANGEMENT OF SECTIONS

  1. Preamble

  2. PRELIMINARY

    1. 1. Short title and application

      2. Interpretation

    2. 2. Interpretation

  3. PART I   VOLUNTARY ARRANGEMENT AND PROCEEDINGS IN BANKRUPTCY

      Voluntary Arrangement

    1. 2A. Voluntary arrangement
    2. 2B. Non-application
    3. 2C. Intention to propose voluntary arrangement
    4. 2D. Interim order
    5. 2E. Effect of interim order
    6. 2F. Nominee
    7. 2G. Registration of nominee
    8. 2H. Register of nominees
    9. 2I. Meeting of creditors to approve debtor's proposal
    10. 2J. Report of decisions to court
    11. 2K. Effect of approval
    12. 2L. Review of meeting's decision
    13. 2M. Replacement of nominee before voluntary arrangement concludes
    14. 2N. Implementation and supervision of approved voluntary
    15. 2O. Consequence of failure by debtor to comply with voluntary arrangement
    16. 2P. Cessation of voluntary arrangement
    17. 2Q. Fees of nominee

      18. Acts of Bankruptcy

    18. 3. Acts of bankruptcy

      19. Bankruptcy Order

    19. 4. Bankruptcy order
    20. 5. Conditions on which creditor may petition
    21. 6. Proceedings and order on creditor's petition
    22. 7. Debtor's petition and order thereon
    23. 8. Effect of bankruptcy order
    24. 9. (Deleted)
    25. 10. Discretionary powers as to appointment of interim receiver and stay of proceedings
    26. 11. Service of order staying proceedings
    27. 12. Power to appoint special manager
    28. 13. Advertisement of bankruptcy order
    29. 14. (Deleted)

      30. Proceedings Consequent on Bankruptcy Order

    30. 15. First and other meetings of creditors
    31. 16. Bankrupt's statement of affairs

      32. Public Examination of Bankrupt

    32. 17. Public examination of bankrupt

      33. Composition or Scheme of Arrangement

    33. 18. Power for creditors to accept and court to approve composition or arrangement
    34. 19. (Deleted)
    35. 20. (Deleted)
    36. 21. (Deleted)
    37. 22. (Deleted)
    38. 23. (Deleted)

      39. Consultative Committee

    39. 24. (Deleted)
    40. 25. Consultative committee
    41. 26. (Deleted)

      42. Control over Person and Property of Debtor

    42. 27. Duties of bankrupt as to discovery and realization of property
    43. 28. Arrest of debtor under certain circumstances
    44. 29. Release of debtor on security
    45. 30. Redirection of letters
    46. 31. Discovery of bankrupt's property
    47. 32. Director General of Insolvency to settle list of debtors to the estate

      48. Discharge of Bankrupt

    48. 33. Discharge of bankrupt by order of court
    49. 33A. Discharge of bankrupt by Certificate of Director General of Insolvency
    50. 33B. Objection by creditor to discharge of bankrupt under section 33A
    51. 33C. Automatic discharge
    52. 34. Fraudulent settlements
    53. 35. Effect of discharge
    54. 35A. Discharged bankrupt to give assistance

  4. PART II   DISQUALIFICATION AND DISABILITIES OF BANKRUPT

    1. 36. Disqualification of bankrupt
    2. 37. Vacating offices by bankruptcy

      3. Undischarged Bankrupt

    3. 38. Duties and disabilities of bankrupt
    4. 38A. Power to prevent bankrupt from leaving Malaysia
    5. 39. List of undischarged bankrupts to be kept

  5. PART III   ADMINISTRATION OF PROPERTY

      Proof of Debts

    1. 40. Description of debts provable in bankruptcy
    2. 41. Mutual credit and set-off
    3. 42. Rules as to proof of debts
    4. 43. Priority of debts
    5. 44. Preferential claim in case of apprenticeship and in respect of passage money
    6. 45. Power to landlord to distrain for rent
    7. 46. Postponement of husband's or wife's claims

      8. Property Available for Payment of Debts

    8. 47. Relation back of Director General of Insolvency's title
    9. 48. Description of bankrupt's property divisible amongst creditors
    10. 49. Provisions as to second bankruptcy

      11. Effect of Bankruptcy on Antecedent Transactions

    11. 50. Restriction of rights of creditor under execution or attachment
    12. 51. Property taken in execution
    13. 52. Avoidance of voluntary settlement
    14. 53. Avoidance of preferences in certain cases
    15. 53A. Avoidance of assignment of book debts
    16. 53B. Property or proceeds therefrom deemed to be property of Director General of Insolvency
    17. 53C. Fair market value may be fixed on review
    18. 54. Protection of bona fide transactions without notice

      19. Realization of Property

    19. 55. Possession of property by assignee
    20. 56. Seizure of property of bankrupt
    21. 57. Appropriation of portion of pay or salary to creditors
    22. 58. Vesting and transfer of property
    23. 59. Disclaimer of onerous property
    24. 60. Powers of Director General of Insolvency to deal with property
    25. 61. Powers exercisable by Director General of Insolvency subject to orders of court

      26. Distribution of Property

    26. 62. Declaration and distribution of dividends
    27. 63. Joint and separate dividends
    28. 64. Provision for creditors residing at a distance, etc.
    29. 65. Right of creditor who has not proved debt before declaration of a dividend
    30. 66. Final dividend
    31. 67. No action for dividend
    32. 68. Power to allow bankrupt to manage property
    33. 69. Right of bankrupt to surplus

  6. PART IV   DIRECTOR GENERAL OF INSOLVENCY

      Appointment

    1. 70. Appointment of Director General of Insolvency and other officers

      2. Duties

    2. 71. Status of Director General of Insolvency
    3. 72. Duties of Director General of Insolvency as regards the bankrupt's conduct
    4. 73. Duties of Director General of Insolvency as to bankrupt's estate
    5. 74. Protection of Director General of Insolvency and person acting under his direction or control

      6. Costs

    6. 75. Allowance and taxation of costs

      7. Receipts, Payments, Accounts, Audit

    7. 76. Bankruptcy Estates Account
    8. 77. Investment of surplus funds
    9. 77A. Insolvency Assistance Fund
    10. 78. Inspection and audit of Director General of Insolvency's accounts
    11. 79. Director General of Insolvency to furnish list of creditors
    12. 80. Books to be kept by Director General of Insolvency
    13. 81. Official examination of Director General of Insolvency's records

      14. Release

    14. 82. Release of Director General of Insolvency

      15. Official Name

    15. 83. Official name of Director General of Insolvency

      16. Vacation of Office on Insolvency

    16. 84. Office of Director General of Insolvency vacated by insolvency

      17. Additional Powers

    17. 84A. Additional powers of Director General of Insolvency

      18. Control

    18. 85. Discretionary powers of Director General of Insolvency and control thereof
    19. 86. Appeal to court against Director General of Insolvency
    20. 87. Control of court over Director General of Insolvency

  7. PART V   CONSTITUTION, PROCEDURE AND POWERS OF COURT

      Jurisdiction

    1. 88. High Court to be the court having jurisdiction in bankruptcy
    2. 89. Exercise in Chambers of jurisdiction
    3. 90. Jurisdiction in bankruptcy of Registrar
    4. 91. General power of bankruptcy courts

      5. Appeals

    5. 92. Appeals in bankruptcy

      6. Procedure

    6. 93. Discretionary powers of the court
    7. 94. Consolidation of petitions
    8. 95. Power to change carriage of proceedings
    9. 96. Continuance of proceedings on death of debtor
    10. 97. Power to stay proceedings
    11. 98. Power to present petition against one partner
    12. 99. Power to dismiss petition against some respondents only
    13. 100. Consolidation of bankruptcy proceedings by or against partners
    14. 101. Actions by Director General of Insolvency and bankrupt's partners
    15. 102. Actions on joint contracts
    16. 103. Proceedings in partnership name
    17. 104. Reciprocal provisions relating to Singapore and designated countries

      18. Annulment of Bankruptcy Order

    18. 105. Power of court to annul bankruptcy order in certain cases

  8. PART VI   SMALL BANKRUPTCIES

    1. 106. Summary administration in small cases
    2. 107. Wage-earner
    3. 108. No public examination in small cases

  9. PART VII   FRAUDULENT DEBTORS AND CREDITORS

    1. 109. Punishment of fraudulent debtors
    2. 110. Bankrupt failing to keep proper account
    3. 111. Bankrupt incurring debt without reasonable ground of expectation of paying it
    4. 112. Penalty for absconding with property
    5. 113. Penalty for absconding in order to avoid service of bankruptcy process or embarrass bankruptcy proceedings
    6. 114. Penalty on fraudulently obtaining credit, etc.
    7. 115. Penalty on false claims, etc.
    8. 116. Debts incurred by fraud
    9. 117. (Deleted)
    10. 117A. Sessions Court to have full jurisdiction to try offences
    11. 118. Criminal liability after discharge or composition
    12. 119. Form of charge

  10. PART VIII   SUPPLEMENTAL PROVISIONS

      Application of Act

    1. 120. Application to married women
    2. 121. Exclusion of corporations and companies
    3. 122. Administration in bankruptcy of estate of person dying insolvent

      4. General Rules

    4. 123. Power to make rules

      5. Fees

    5. 124. Fees

      6. Evidence

    6. 125. Gazette to be evidence
    7. 126. Evidence of proceedings at meetings of creditors
    8. 127. Evidence of proceedings in bankruptcy
    9. 128. Swearing of affidavits
    10. 129. Death of witness

      11. Notices

    11. 130. Service of notices

      12. Formal Defects

    12. 131. Formal defect not to invalidate proceedings

      13. Stamp Duty

    13. 132. Exemption of deeds, etc., from stamp duty

      14. Corporations, Firms and Mentally Disordered Persons

    14. 133. Acts of corporations, firms and mentally disordered persons

      15. Unclaimed Funds or Dividends

    15. 134. Unclaimed or undistributed money

      16. Bankrupt's Book

    16. 135. Access to bankrupt's books

      17. Repeals and Special Provisions

    17. 136. (Omitted)
    18. 137. Transitional provisions for States of Malaya
    19. 138. Jurisdiction of District Officers, Sarawak and Sabah
    20. 139. Transitional provisions for Sarawak and Sabah

  1. SCHEDULE A

  2. SCHEDULE B - (Deleted)

  3. SCHEDULE C


Back to the top


Important Notice: Legislation from this website is not a copy of the Gazette printed by the Government Printer, Percetakan Nasional Malaysia Berhad, for the purposes of section 61 of the Interpretation Acts 1948 and 1967 [Act 388] and does not constitute prima facie evidence of the contents of the Gazette by virtue of the section.

SEARCH LEGISLATION
Title:


Number: