Speech by Mr G.A. Higginson, Secretary for Economic Services, in the Legislative Council
on 15 May 1985
Bankruptcy Ordinance (Chapter 6) Meetings of Creditors (Amendment) Rules 1985 Bankruptcy (Amendment) Rules 1985 Bankruptcy (Fees and Percentages) Order 1985
Sir,
I move the resolution standing in my name on the
Order Paper.
The Bankruptcy (Amendment) Rules 1985 and the
Bankruptcy (Fees and Percentages) Order 1985, which were
made by the Chief Justice on 4 May 1985, make similar
provisions under the Bankruptcy Ordinance to those I have
just described for the Companies Ordinance. The
opportunity has also been taken to re-organise and
re-draft the Bankruptcy (Fees and Percentages) Order in
its entirety.
3.
In addition, the Meetings of Creditors
(Amendment) Rules 1985 extend, from one month to three
months after the date of the receiving order, the period
of time allowed for the holding of the first meeting of
creditors . The purpose of this is to increase the
information about assets that will be available, and so
increase the possibility of the creditors appointing
outside trustees.