TNAG-1362-FCO40-1808-Hong-Kong-Hansard-reports-and-minutes-of-the-meetings-of-the-1985 — Page 81

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.