1964_BANKRUPTCY_ORDINANCE — Page 79

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CAP. 6]

Bankruptcy

[1986 Ed.

(Cap. 221.)

PART II

APPLICATION OF THE ORDINANCE IN PROCEEDINGS BASED ON A

CRIMINAL BANKRUPTCY ORDER

Criminal bankruptcy petition

4. No criminal bankruptcy petition shall be presented by the person who under paragraph 2 is the debtor; and, in relation to such a petition presented by a creditor, section 6 shall have effect with the following modifications-

(a) subsections (1)(a) and (b) and (2) (conditions as to nature of debt) shall not

apply to a criminal bankruptcy debt; and

(b) subsection (1)(d) (domicile of debtor) shall be omitted.

Receiving order

5. For the purposes of section 9(2) and (3) (matters to be proved before receiving order is made) the act of bankruptcy which a person is treated by this Schedule as having committed and any criminal bankruptcy debt shall be treated as conclusively proved by the production of a copy of the criminal bankruptcy order in question and the following provisions of that section shall not apply in relation to any such debt-

(a) so much of subsection (3) which provides that if the court is not satisfied that the assets for division among the unsecured creditors, after payment of all costs, charges and expenses, and the debts which are preferential under that Ordinance, will be sufficient to pay a dividend of 15 per cent, it may dismiss the petition;

(b) subsection (5);

(c) subsection (6).

Trustee of criminal bankrupt's property

6. Where a person is adjudged bankrupt in proceedings pursuant to a criminal bankruptcy petition the Official Receiver shall in the bankruptcy be the trustee of the property of the bankrupt and section 23 shall not apply in relation to any such proceedings.

Proof of criminal bankruptcy debt in bankruptcy proceedings

7. (1) For the purpose of proving a criminal bankruptcy debt in proceedings pursuant to a criminal bankruptcy petition, a copy of the criminal bankruptcy order specifying the amount deemed by virtue of paragraph 3 to be due as a debt shall, subject to paragraph 5, be treated as sufficient evidence of the debt unless it is shown by any party to the proceedings that the amount of the relevant loss or damage is greater or less than the amount specified in the order or that the loss or damage did not in fact result from any offence specified in the order; and if it is shown by any party to the proceedings that the amount of the relevant loss or damage is other than that specified in the order, paragraph 3 shall have effect as if that other amount had been specified in the order, but without prejudice to the validity of the order if the amount of the relevant loss is shown not to exceed $150,000 or such other amount as may be specified in an order made under section 84A(5) of the Criminal Procedure Ordinance.

(2) Nothing in this paragraph or paragraph 3 shall be taken as prejudicing the proof in proceedings pursuant to a criminal bankruptcy petition of debts other than criminal bankruptcy debts.

(3) Nothing in sub-paragraph (1) shall be construed as entitling any person to contend that the offence or offences specified in a criminal bankruptcy order were not committed by the person against whom the order was made.

Recovery of assets for benefit of criminal bankrupt's creditors

8. (1) Without prejudice to any other provision of this Ordinance, sub-paragraph (2) to (5) shall apply, where a person is adjudged bankrupt in proceedings pursuant to a criminal bankruptcy petition, with respect to dispositions of property or any interest in property made by the bankrupt on or after the relevant date, either by way of gift or for an under-value.

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