30 September 2008 – Bankruptcy (Amendment) Bill 2008 – Open Consultation with Exposure Draft

Dear IPAS Associates and Fellows,

The Ministry of Law (MinLaw) and the Insolvency & Public Trustee’s Office (IPTO) has launched on 22 September 2008, the second round of public consultation for the proposed amendments to the Bankruptcy Act to bring the proposed Debt Repayment Scheme into legislation. The first round of public consultation was conducted in 2007 when the concept paper was released for comments. MinLaw and IPTO issued a joint-response to the feedback received at the time, and IPAS was one of the organisations who provided feedback.

The feedback received has been instructive when the provisions in the amendment Bill were being drafted.

This second round of consultation releases the proposed provisions to be incorporated into the Bankruptcy Act to bring the Debt Repayment Scheme into law as the new Part VA.

The PDF document (click here) contains the draft Bill whilst the link is to the web write-up regarding this second round of consultation.

http://www.minlaw.gov.sg/ipto/corporate/Downloads/Web_write_up_Bankruptcy_ Amdt_Bill2008.pdf

MinLaw and IPTO would like to invite IPAS to comment on the draft Bill in this second round of consultation which closes on 17 October 2008.

Please let us have your comments, if any, by 10 October 2008 by email to technical@icpas.org.sg.

Regards
IPAS Secretariat