Hong Kong Ordinances

BANKRUPTCY ORDINANCE - SECT 112A

Application of Ordinance to small bankruptcies

Caution: This is a past version. See the current version here.

(1) Subject to subsection (2), where a petition is presented by or against a
debtor and-

   (a)  the court receives proof to its satisfaction; or

   (b)  the Official Receiver reports to the court, that the property of the
        debtor is not likely to exceed in value $200000, the court may make an
        order that the debtor's estate be administered in a summary manner,
        and thereupon the provisions of this Ordinance shall apply subject to
        the following modifications- (Amended 26 of 1985 s.3)

(ia) the Official Receiver may dispense with the summoning of the first
meeting of creditors required under section 17, and instead apply to the court
for an order adjudging the debtor bankrupt; (Added 26 of 1985 s.3)

        (i)    if the debtor is adjudged bankrupt the Official Receiver shall
               be the trustee in the bankruptcy;

        (ii)   there shall be no committee of inspection, and the Official 
               Receiver may do all things which may be done by a trustee with
               the permission of a committee of inspection;

        (iii)  such other modifications as may be prescribed with a view to
               saving expense and simplifying procedure, but nothing in this
               section shall permit the modification of the provisions of this
               Ordinance relating to the examination or discharge of the
               debtor.

(2) The court may, upon the application of the Official Receiver, at any time
before the discharge of the debtor rescind an order made under subsection (1)
and thereupon the administration shall proceed as if the order had not been
made. (Added 1 of 1976 s.6) [cf. 1914 c. 47 s. 129 U.K.]