Hong Kong Ordinances

BANKRUPTCY ORDINANCE - SECT 18

Debtor's statement of affairs

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

(1) Where a receiving order is made against a debtor, he shall, unless the
court otherwise orders, make out and submit to the Official  Receiver a
statement of and in relation to his affairs in the prescribed form, verified
by affidavit, and showing the particulars of the debtor's assets, debts and
liabilities, wherever situate, the names, addresses and occupations of his
creditors, whether in Hong Kong or elsewhere, the securities held by them
respectively, the dates when the securities were respectively given, and such
further or other information as may be prescribed or as the Official Receiver
may require. Such statement shall also give details of all property held by
him in a t'ong name or under any alias, or by his wife or any concubine of
his, or by any person in trust for him or them, with full particulars as to
the manner and date of its being acquired. (See Form 28) (Amended 65 of 1976
s.3; 47 of 1984 ss.3 & 16)

(2) The statement shall be so submitted within the following times, namely-

   (a)  if the order is made on the petition of the debtor, within 3 days from
        the date of the order;

   (b)  if the order is made on the petition of a creditor, within 7 days from
        the date of the order, but the court may, in either case for special
        reasons, extend the time.

(3) If the debtor fails without reasonable excuse to comply with the
requirements of this section, he may be punished for a contempt of court and
the court may, on the application of the Official Receiver or of any creditor,
adjudge him bankrupt. (See Form 75)

(4) Any person stating himself to be a creditor of the bankrupt may, on
payment of the prescribed fee, personally or by agent inspect the statement at
all reasonable times and take any copy thereof or extract therefrom, but any
person untruthfully so stating himself to be a creditor shall be guilty of a
contempt of court and shall be punishable accordingly on the application of
the trustee or Official Receiver. [cf. 1914 c. 59 s. 14 U.K.]