XN000022-1995-01-25 — Page 31

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Bankruptcy forms made simpler

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Following is the speech by the Secretary for Financial Services, Mr Michael Cartland, in moving a motion on the Bankruptcy (Forms) (Amendment) Rule 1995 in the Legislative Council today (Wednesday):

Mr President,

I move the first motion in my name on the Order paper.

The Bankruptcy (Forms) (Amendment) Order was made by the Chief Justice on 3 January 1995. It provides for the repeal of the current Statement of Affairs form and its replacement by two new forms.

Form 28 of the Bankruptcy (Forms) Rules must be submitted to the Official Receiver by all persons against whom a Receiving Order is made. In the course of a review of the statutory forms in use in relation to bankruptcies, this form was found to be in need of substantial updating. As some bankruptcies do not involve the collapse of an individual's business, it was considered more appropriate to have two types of form, one for a non trading individual and one for a trader. These forms have been designed to obtain all the necessary information about a debtor's affairs in a clear and straightforward manner. Debtors should find the new alternative forms easier to complete than the single form currently in use.

Mr President, I beg to move.

End/Wednesday, January 25, 1995

Legislative Council (Electoral Provisions) Ordinance

Following is the speech by the Secretary for Constitutional Affairs, Mr Nicholas Ng, in moving a resolution under Note (8)(c) to Schedule 2 to the Legislative Council (Electoral Provisions) Ordinance in the Legislative Council today (Wednesday):

Mr President,

I move the resolution standing in my name in the Order paper.