Hong Kong Ordinances

BANKRUPTCY ORDINANCE - SECT 30B

Early discharge of bankrupt

(1) Notwithstanding that the relevant period under section 30A has not yet
expired, a bankrupt who-

   (a)  has not previously been adjudged bankrupt may, at any time; or

   (b)  has been previously adjudged bankrupt may, not less than 3 years after
        the date of the bankruptcy order, apply to the court for an order
        discharging him from bankruptcy.

(2) The court shall not make an order under this section if the bankrupt-

   (a)  has previously entered into-

        (i)    a composition or scheme of arrangement under this Ordinance, as
               it existed before the Bankruptcy (Amendment) Ordinance 1996 (76
               of 1996) came into operation; or

        (ii)   a voluntary arrangement;

   (b)  has unsecured liabilities that exceed 150% of the income that the
        trustee determines was derived by the bankrupt during the year
        immediately before the date of the bankruptcy order;

   (c)  has failed to disclose a beneficial interest in any property;

   (d)  has failed to disclose any liability that existed at the date of the
        bankruptcy order;

   (e)  has failed to disclose in his statement of affairs income that he
        expected in the 12 months following the filing of the statement;

   (f)  has engaged, after the date of the bankruptcy order, in misleading
        conduct in relation to a person in respect of an amount or amounts
        exceeding $15000;

   (g)  has after the date of the bankruptcy order continued to act as a
        director or taken part in the management of a company, except with the
        leave of the court, contrary to section 156 of the Companies Ordinance
        ( Cap 32);

   (h)  has failed or refused to give his passport or other travel document to
        the trustee when requested to do so;

   (i)  has failed to co-operate with the trustee.

(3) A bankrupt shall give notice to the trustee of an application under this
section at least 28 days before the date of the hearing and the trustee shall
advise each creditor of the application.

(4) The trustee or a creditor may object to the discharge of the bankrupt on
one or more of the grounds set out in section 30A(4) and the court may decline
to make an order discharging the bankrupt if it is satisfied that the
objection is valid.

(5) Section 30A(8) and (9) applies to a discharge under this section. (Added
76 of 1996 s. 20)