Hong Kong Ordinances

BANKRUPTCY ORDINANCE - SECT 52

Dealings with undischarged bankrupt

(Past version on 30/06/1997).

(1) (Repealed 76 of 1996 s. 37)

(2) Where any individual, company or firm has ascertained that a person having
a deposit, whether a deposit in respect of capital or not, or a credit
balance, with such individual, company or firm is an undischarged bankrupt,
then it shall be the duty of such individual, company or firm forthwith to
inform the Official Receiver and the trustee in the bankruptcy of the
existence of the deposit or credit balance, and such individual, company or
firm shall not make any payment out of or in respect of the deposit or credit
balance except under an order of the court or in accordance with instructions
from the Official Receiver or the trustee in the bankruptcy.

(3) In case of any contravention of the provisions of subsection

(2) the individual, or the directors and officers of the company, or the
partners and manager of the firm, as the case may be, shall be liable on
summary conviction to a fine of $1000 and to imprisonment for 6 months. [cf.
1914 c. 59 s. 47 U.K.]