s 412 Obtaining credit, engaging in business, or standing as guarantor
412.—(1) An individual shall be guilty of an offence if, being an undischarged bankrupt —(a) either alone or jointly with any other person, the individual obtains credit to the extent of at least $1,000 (or such higher amount as may be prescribed) from any person without informing that person, at the time the credit is obtained, that the individual is an undischarged bankrupt; (b) the individual engages in any trade or business under a name other than that under which the individual was adjudged bankrupt without disclosing to every person with whom the individual enters into any business transaction, at the time the transaction is entered into, the name under which the individual was adjudged bankrupt;[Act 1 of 2023 wef 22/05/2026] (c) the individual provides a guarantee, indemnity or security to the extent of at least $1,000 (or such higher amount as may be prescribed) in respect of any amount borrowed or charged or any credit obtained by another person, without informing the lender or creditor, at the time the guarantee, indemnity or security is provided, that the individual is an undischarged bankrupt; or[Act 1 of 2023 wef 22/05/2026] (d) the individual receives money or other consideration of at least $10,000 (or such higher amount as may be prescribed) from a person that is advance payment for the supply of goods or services, without informing that person, at the time the money or other consideration is received, that the individual is an undischarged bankrupt, regardless of —(i) whether the money or other consideration is received on the individual’s own account or on account of another person; and (ii) whether the money or other consideration received is full or partial payment for the supply of the goods or services.[Act 1 of 2023 wef 22/05/2026] (2) In this section, any reference to a bankrupt obtaining credit is to be read as including a reference to any case in which —(a) goods are bailed to the bankrupt under a hire‑purchase agreement; and (b) the bankrupt is paid in advance (whether in money or otherwise) for the supply of goods or services. (3) The Minister may, by order in the Gazette, exempt any person or class of persons from subsection (1)(d).[Act 1 of 2023 wef 22/05/2026]