Malaysia legislation
Section 2
Seksyen 2
Akta Insolvensi 1967 [Akta 360], yang disebut “Akta ibu”
dalam Akta ini, dipinda dalam seksyen 5—
(a)
dalam perenggan (1)(a), dengan menggantikan perkataan
“fifty thousand ringgit” dengan perkataan “one hundred thousand ringgit”; dan
UNDANG-UNDANG MALAYSIA
Akta A1624
AKTA INSOLVENSI (PINDAAN) 2020
Undang-Undang Malaysia 4
Akta A1624
(b)
dengan memasukkan selepas subseksyen (1) subseksyen yang berikut:
“(1a) The Minister may, after consultation with the Minister of Finance, by order published in the
Gazette, amend the amount of debt in paragraph (1)(a)
for the presentation of a bankruptcy petition for a specific time period, if the Minister is satisfied that there are special circumstances and that it would not be contrary to public interest, to do so.
(1b)
Where an order to amend the amount of debt for the presentation of a bankruptcy petition in subsection (1a) ceases or expires—
(a)
any bankruptcy petition, presented by a petitioning creditor against a debtor which is still pending immediately before the order under subsection (1a) ceases or expires, shall be continued or concluded in accordance with the amount of debt as amended by the order in subsection (1a);
and
(b)
any bankruptcy petition, presented by a petitioning creditor against a debtor after the order in subsection (1a) ceases or expires, shall be continued or concluded in accordance with the amount of debt as specified in paragraph (1)(a).
(1c)
The order made under subsection (1a) shall be laid before the Dewan Rakyat as soon as practicable after its publication in the Gazette.”.
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