Section 1 of Insolvency Act CAP 53: Short title and commencement
(1) This Act may be cited as the Insolvency Act.
(2) The provisions of this Act shall come into operation on such date as the Cabinet Secretary may, by notice in the Gazette, appoint and different dates may be appointed for different provisions.
(3) Notwithstanding subsection (2), any provision...
Section 2 of Insolvency Act CAP 53: Interpretation
(1) In this Act, unless the context otherwise requires—
"affairs" in relation to a natural person or company, includes a business carried on by the person or company and any dealings conducted in the course of the business;
"amount" means an amount of money;
"apply to" includes apply in relation...
Section 3 of Insolvency Act CAP 53: Objects and application of this Act
(1) The objects of this Act are—
(a) to establish and provide for the operation of a framework for the efficient and equitable administration of the estates of insolvent natural persons and unincorporated entities comprising natural persons, and the assets of insolvent companies and other bodies...
Section 9 of Insolvency Act CAP 53: Grant or refusal of authorisation
(1) As soon as practicable after receiving an application made under section 8, the Official shall either grant or refuse the application.
(2) The Official Receiver shall grant an application made under section 8 if satisfied that—
(a) the application complies with the requirements of that...
Section 12 of Insolvency Act CAP 53: Interpretation: Part III
In this Part—
"bankruptcy application" means an application for a debtor to be adjudged bankrupt;
"bankruptcy order", in relation to a debtor, means an order of the Court adjudging the debtor bankrupt;
"creditor's application" means a bankruptcy application made in accordance with section 17 by...
Section 13 of Insolvency Act CAP 53: Nature of bankruptcy
(1) Bankruptcy occurs when the Court makes an order in respect of a debtor adjudging the debtor bankrupt—
(a) on the application of one or more creditors of the debtor made in accordance with section 17; or
(b) on the application of the debtor made in accordance with section 32.
(2) If a person...
Section 14 of Insolvency Act CAP 53: Alternatives to bankruptcy
A debtor who is insolvent may as an alternative to bankruptcy—
(a) enter into a voluntary arrangement in accordance with Division I of Part IV;
(b) make a proposal to creditors in accordance with Division 2 of Part IV;
(c) pay creditors in instalments under a summary instalment order under...
Section 19 of Insolvency Act CAP 53: Expedited creditor's application
If a creditor's application is made wholly or partly in respect of a debt that is the subject of a statutory demand, the application may be made before the end of the twenty-one day period referred to in section
17 if—
(a) there is a serious possibility that the debtor's property, or the value of...
Section 20 of Insolvency Act CAP 53: Proceedings on creditor's application
(1) The Court may not make a bankruptcy order on a creditor's application unless it is satisfied that the debt, or one of the debts, in respect of which the application was made is either—
(a) a debt which, having been payable at the date of the application or having since become payable, has been...
Section 23 of Insolvency Act CAP 53: Execution process issued by other court
(1) This section applies if an execution process has been issued by a court other than the High Court.
(2) If it is proved to the issuing court that an application for a bankruptcy order in respect of the debtor has been made to the High Court, that court may either—
(a) stay the execution process...
Section 27 of Insolvency Act CAP 53: Orders if more than one application
(1) If there is more than one bankruptcy application in respect of a debtor, and one application has been stayed by an order of the Court, the Court may, if it believes there is a good reason to do so, make a bankruptcy order in respect of the application that has not been stayed.
(2) On making a...