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Insolvency Act 1967 [Act 360]   cite [+]

ARRANGEMENT OF SECTIONS
  1. Preamble

  2. PRELIMINARY

    1. 1. Short title and application
    2. Interpretation

    3. 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

    19. 3. Acts of bankruptcy
    20. Bankruptcy Order

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

    33. 15. First and other meetings of creditors
    34. 16. Bankrupt's statement of affairs
    35. Public Examination of Bankrupt

    36. 17. Public examination of bankrupt
    37. Composition or Scheme of Arrangement

    38. 18. Power for creditors to accept and court to approve composition or arrangement
    39. 19. (Deleted)
    40. 20. (Deleted)
    41. 21. (Deleted)
    42. 22. (Deleted)
    43. 23. (Deleted)
    44. Consultative Committee

    45. 24. (Deleted)
    46. 25. Consultative committee
    47. 26. (Deleted)
    48. Control over Person and Property of Debtor

    49. 27. Duties of bankrupt as to discovery and realization of property
    50. 28. Arrest of debtor under certain circumstances
    51. 29. Release of debtor on security
    52. 30. Redirection of letters
    53. 31. Discovery of bankrupt's property
    54. 32. Director General of Insolvency to settle list of debtors to the estate
    55. Discharge of Bankrupt

    56. 33. Discharge of bankrupt by order of court
    57. 33A. Discharge of bankrupt by Certificate of Director General of Insolvency
    58. 33B. Objection by creditor to discharge of bankrupt under section 33A
    59. 33C. Automatic discharge
    60. 34. Fraudulent settlements
    61. 35. Effect of discharge
    62. 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

    4. 38. Duties and disabilities of bankrupt
    5. 38A. Power to prevent bankrupt from leaving Malaysia
    6. 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

    9. 47. Relation back of Director General of Insolvency's title
    10. 48. Description of bankrupt's property divisible amongst creditors
    11. 49. Provisions as to second bankruptcy
    12. Effect of Bankruptcy on Antecedent Transactions

    13. 50. Restriction of rights of creditor under execution or attachment
    14. 51. Property taken in execution
    15. 52. Avoidance of voluntary settlement
    16. 53. Avoidance of preferences in certain cases
    17. 53A. Avoidance of assignment of book debts
    18. 53B. Property or proceeds therefrom deemed to be property of Director General of Insolvency
    19. 53C. Fair market value may be fixed on review
    20. 54. Protection of bona fide transactions without notice
    21. Realization of Property

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

    30. 62. Declaration and distribution of dividends
    31. 63. Joint and separate dividends
    32. 64. Provision for creditors residing at a distance, etc.
    33. 65. Right of creditor who has not proved debt before declaration of a dividend
    34. 66. Final dividend
    35. 67. No action for dividend
    36. 68. Power to allow bankrupt to manage property
    37. 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

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

    8. 75. Allowance and taxation of costs
    9. Receipts, Payments, Accounts, Audit

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

    18. 82. Release of Director General of Insolvency
    19. Official Name

    20. 83. Official name of Director General of Insolvency
    21. Vacation of Office on Insolvency

    22. 84. Office of Director General of Insolvency vacated by insolvency
    23. Additional Powers

    24. 84A. Additional powers of Director General of Insolvency
    25. Control

    26. 85. Discretionary powers of Director General of Insolvency and control thereof
    27. 86. Appeal to court against Director General of Insolvency
    28. 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

    6. 92. Appeals in bankruptcy
    7. Procedure

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

    21. 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

    5. 123. Power to make rules
    6. Fees

    7. 124. Fees
    8. Evidence

    9. 125. Gazette to be evidence
    10. 126. Evidence of proceedings at meetings of creditors
    11. 127. Evidence of proceedings in bankruptcy
    12. 128. Swearing of affidavits
    13. 129. Death of witness
    14. Notices

    15. 130. Service of notices
    16. Formal Defects

    17. 131. Formal defect not to invalidate proceedings
    18. Stamp Duty

    19. 132. Exemption of deeds, etc., from stamp duty
    20. Corporations, Firms and Mentally Disordered Persons

    21. 133. Acts of corporations, firms and mentally disordered persons
    22. Unclaimed Funds or Dividends

    23. 134. Unclaimed or undistributed money
    24. Bankrupt's Book

    25. 135. Access to bankrupt's books
    26. Repeals and Special Provisions

    27. 136. (Omitted)
    28. 137. Transitional provisions for States of Malaya
    29. 138. Jurisdiction of District Officers, Sarawak and Sabah
    30. 139. Transitional provisions for Sarawak and Sabah
  1. SCHEDULE A

  2. SCHEDULE B - (Deleted)

  3. SCHEDULE C



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