Section 62

The first dividend, if any, shall be declared and distributed within twelve months after the bankruptcy order has been made, unless the Director General of Insolvency, for reasons to be given to creditors, decides to postpone the declaration to a later date.

Subsequent dividends shall, in the absence of sufficient reason to the contrary, be declared and distributed at intervals of not more than twelve months.

Before declaring a dividend the Director General of Insolvency shall cause notice of his intention to do so to be gazetted and shall also send reasonable notice thereof to each creditor mentioned in the bankrupt’s statement who has not proved his debt.

When the Director General of Insolvency has declared a dividend he shall send to each creditor who has proved a notice showing the amount of the dividend, and when, and how it is payable.

No dividend shall be paid to any creditor which does not amount to five ringgit.

Where the Director General of Insolvency makes any payment of dividends upon production of a certificate of identity in the form prescribed in the rules, he shall thereupon be discharged from all liability in respect of that payment.

Joint and separate dividends