Saving and transitional provisions relating to repeal of Bankruptcy Act
s 525
Open ↗525.—(1) Subject to subsection (7), Parts 3 and 13 to 22 do not apply to or in relation to the following, and despite section 450, the Bankruptcy Act (Cap. 20, 2009 Revised Edition) (called in this section the repealed Act) as in force immediately before 30 July 2020 continues to apply to or in relation to the following, as if Parts 3 and 13 to 22 and section 450 had not been enacted:(a) any application for an interim order made under section 45 of the repealed Act before 30 July 2020; (b) any bankruptcy application made before 30 July 2020; (c) any application for an order for the administration in bankruptcy of the estate of a deceased debtor made under section 148 of the repealed Act before 30 July 2020; (d) any application for a second or subsequent bankruptcy order against a bankrupt made before, on or after 30 July 2020, where the bankrupt is a bankrupt pursuant to a bankruptcy order made under the repealed Act; (e) any request to the Court, received before 30 July 2020, seeking aid in respect of an order of a court of Malaysia or any designated country having jurisdiction in bankruptcy and insolvency.[Act 1 of 2023 wef 01/11/2023] (2) For the purposes of subsection (1), any reference in the repealed Act to “Official Assignee” is to be read as a reference to the Official Assignee appointed under section 16(1) of this Act. (3) Despite section 450, the Bankruptcy Estates Account mentioned in section 27 of the repealed Act continues and is deemed to be the Bankruptcy Estates Account mentioned in section 28 of this Act. (4) Despite section 450, the Debt Repayment Schemes Account mentioned in section 27 of the repealed Act continues and is deemed to be the Debt Repayment Schemes Account mentioned in section 28 of this Act. (5) Despite section 450, the Debt Repayment Scheme Assistance Fund mentioned in section 164A of the repealed Act continues and is deemed to be the Debt Repayment Scheme Assistance Fund mentioned in section 435 of this Act. (6) Despite section 450, the Insolvency Assistance Fund mentioned in section 165 of the repealed Act continues and is deemed to be the Insolvency Assistance Fund mentioned in section 436 of this Act. (7) Despite subsection (1) —(a) section 38 of the repealed Act as in force immediately before 30 July 2020 applies to or in relation to a trustee in bankruptcy of an estate of a bankrupt who is a bankrupt pursuant to a bankruptcy order made under the repealed Act (including the repealed Act as applied by subsection (1)), as if paragraph (b) of subsection (1) of that section were substituted with the following paragraph: “(b) where there is no agreement with the creditors’ committee or where there is no such committee — (i) by a special resolution of the creditors whose debts have been admitted for the purpose of voting and who are present (in person or by proxy) and voting at a meeting to be convened by the trustee by a notice to each creditor in accordance with subsection (2); or (ii) by agreement between the trustee in bankruptcy and all the creditors, each of whom is deemed to have agreed with the trustee in bankruptcy if — (A) the trustee has notified the creditor, in the manner prescribed in regulations made for the purposes of section 41(4) of the Insolvency, Restructuring and Dissolution Act 2018, of the remuneration sought by the trustee; and (B) the creditor has not objected, in the manner and within the time prescribed by those regulations, to the remuneration sought by the trustee;”; (b) section 82 of the repealed Act as in force immediately before 30 July 2020 applies to or in relation to an undischarged bankrupt who is a bankrupt pursuant to a bankruptcy order made under the repealed Act (including the repealed Act as applied by subsection (1)), as if paragraph (a) of subsection (1) of that section were substituted with the following paragraph: “(a) all moneys and property which have come to the bankrupt’s hands for the bankrupt’s own use during such period as the Official Assignee may specify, including a statement of specified particulars of the bankrupt’s current employment status and employment history if the Official Assignee so directs; and”; (c) section 129 of the repealed Act as in force immediately before 30 July 2020 applies to or in relation to a bankrupt who is a bankrupt pursuant to a bankruptcy order made under the repealed Act (including the repealed Act as applied by subsection (1)), as if paragraphs (b) and (c) of subsection (1) of that section were substituted with the following paragraphs: “(b) deliver to the Official Assignee all books, records, documents, writings and papers, including (without restricting the generality of the foregoing) any documents or deeds of title, insurance policies and tax records and returns and copies thereof in any way relating to his property, affairs, current employment status and employment history; (c) at such time and place as may be fixed by the Official Assignee, attend before the Official Assignee and answer such questions as the Official Assignee may put to him with respect to his affairs, dealings, property, current employment status and employment history and the causes of his failure;”; (d) section 163(1) and (1A) of the repealed Act as in force immediately before 30 July 2020 applies to the Official Assignee in relation to every undischarged bankrupt who is a bankrupt pursuant to a bankruptcy order made under the repealed Act (including the repealed Act as applied by subsection (1)), subject to the following modifications:(i) the following paragraph appears after paragraph (d) of section 163(1) of the repealed Act as in force immediately before 30 July 2020: “(da) a record of the particulars of the employment status and employment history of every undischarged bankrupt, as provided to the Official Assignee under section 81(3)(a)(iv) or (4)(c), 82(1)(a) or 129(1)(b) or (c);”; (ii) the reference in subsection (1A) of section 163 of the repealed Act as in force immediately before 30 July 2020 to subsection (1)(a) to (e) of that section includes a reference to subsection (1)(da) of that section; and (e) section 412(1)(d) and (3) applies to or in relation to an undischarged bankrupt who is a bankrupt pursuant to a bankruptcy order made under the repealed Act (including the repealed Act as applied by subsection (1)).[Act 1 of 2023 wef 01/11/2023]