Bankruptcy Act 1967

Bankruptcy Act 1967
Parliament of Malaysia
  • An Act relating to the law of bankruptcy.
CitationAct 360
Territorial extentThroughout Malaysia
Passed byDewan Rakyat
Passed26 August 1967
Enacted1967 (Act 55 of 1967)
Revised: 1988 (Act 360 w.e.f. 31 December 1988)
Passed byDewan Negara
Passed29 August 1967
Effective30 September 1967
Legislative history
First chamber: Dewan Rakyat
Bill titleBankruptcy Bill 1967
Introduced byAbdul Rahman Ya'kub, Minister of Lands and Mines and Minister of Justice
First reading21 August 1967
Second reading26 August 1967
Third reading26 August 1967
Second chamber: Dewan Negara
Bill titleBankruptcy Bill 1967
Member(s) in chargeAthi Nahappan, Senator
First reading28 August 1967
Second reading29 August 1967
Third reading29 August 1967
Amended by
Malaysia Currency (Ringgit) Act 1975 [Act 160]
Bankruptcy (Amendment) Act 1976 [Act A364]
Subordinate Courts (Amendment) Act 1987 [Act A671]
Bankruptcy (Amendment) Act 1988 [Act A710]
Bankruptcy (Amendment) Act 1992 [Act A827]
Bankruptcy (Amendment) Act 1998 [Act A1035]
Bankruptcy (Amendment) Act 2003 [Act A1197]
Related legislation
Bankruptcy Ordinance of Sarawak [Sarawak Cap. 46]
Insolvency Ordinance of Sabah [Sabah Cap. 62]
Status: In force

The Bankruptcy Act 1967 (Malay: Akta Kebankrapan 1967), is a Malaysian laws which enacted relating to the law of bankruptcy.

Structure

The Bankruptcy Act 1967, in its current form (1 January 2006), consists of 8 Parts containing 139 sections and 3 schedules (including 7 amendments).

  • Preliminary
    • Interpretation
  • Part I: Proceedings from Act of Bankruptcy to Discharge
    • Acts of Bankruptcy
    • Receiving Order
    • Proceedings consequent on Receiving Order
    • Public Examination of Debtor
    • Composition or Scheme of Arrangement
    • Adjudication of Bankruptcy
    • Control over Person and Property of Debtor
    • Discharge of Bankrupt
  • Part II: Disqualification and Disabilities of Bankrupt
    • Undischarged Bankrupt
  • Part III: Administration of Property
    • Proof of Debts
    • Property Available for Payment of Debts
    • Effect of Bankruptcy on Antecedent Transactions
    • Realization of Property
    • Distribution of Property
  • Part IV: Director General of Insolvency
    • Appointment
    • Duties
    • Costs
    • Receipts, Payments, Accounts, Audit
    • Release
    • Official Name
    • Vacation of Office on Insolvency
    • Additional Powers
    • Control
  • Part V: Constitution, Procedure and Powers of Court
    • Jurisdiction
    • Appeals
    • Procedure
    • Annulment of Adjudication
  • Part VI: Small Bankruptcies
  • Part VII: Fraudulent Debtors and Creditors
  • Part VIII: Supplemental Provisions
    • Application of Act
    • General Rules
    • Fees
    • Evidence
    • Notices
    • Formal Defects
    • Stamp Duty
    • Corporations, Firms and Mentally Disordered Persons
    • Unclaimed Funds or Dividends
    • Debtor’s Books
    • Repeals and Special Provisions
  • Schedules

See also

References