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← Insolvency, Restructuring and Dissolution Act 2018

Insolvency, Restructuring and Dissolution Act 2018 s 292

s 292 Commencement and administration of debt repayment scheme

292.—(1) A debt repayment scheme commences in respect of a debtor on the date on which a debt repayment plan comes into effect under section 291(8) in respect of that debtor. (2) The Official Assignee —(a) must administer all debt repayment schemes under this Part; and (b) may charge such fees as may be prescribed in respect of such administration. (3) Upon the commencement of a debt repayment scheme in respect of a debtor, the Official Assignee must pay out from the Bankruptcy Estates Account and into the Debt Repayment Schemes Account the balance of any deposit paid by the applicant creditor to the Official Assignee in respect of the relevant bankruptcy application made against the debtor, for the purpose of discharging the costs and expenses incurred by the Official Assignee in the administration of the scheme.

Read this section in the full act → · Open Division 3 →

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗

Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.

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