Hong Kong Regulations

BANKRUPTCY RULES - RULE 52A

Deposits in respect of compositions or schemes of arrangement

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

Where a debtor or bankrupt lodges with the Official Receiver a proposal for a
composition in satisfaction of his debts or a scheme of arrangement of his
affairs out of monies to be provided by another person, that other person
shall at the time of such lodgment, deposit with the Official Receiver the sum
of $12150 and, when so directed, such further sum (if any) as the court may
from time to time direct, to cover the fees and expenses to be incurred by the
Official Receiver in connection with the work done by the Official Receiver in
respect of the composition or scheme, whether or not such composition or
scheme is approved by the creditors or the court. (L.N. 429 of 1993; L.N. 91
of 1996; L.N. 166 of 1997)