Insolvency Act 2017 Malaysia Pdf

1 in this act unless the context otherwise requires accounts means the financial statements of a company or.

Insolvency act 2017 malaysia pdf. Laws of malaysia act a1534 bankruptcy amendment act 2017 an act to amend the bankruptcy act 1967. Going hand in hand with the renamed insolvency act 1967 there are now a host of new rules that come along with the act. 6 laws of malaysia act 360 section 51. Enacted by the parliament of malaysia as follows.

321 324 17 a keay p walton insolvency law. Property taken in execution 52. Firstly there are the new insolvency rules 2017. Insolvency act 1967 comes into force in malaysia after receiving the royal assent on 10 may 2017 the bankruptcy amendment bill 2016 bill has finally come into force in malaysia on 6 october 2017 marking the dawn of the new malaysian bankruptcy regime.

This act may be cited as the corporate insolvency act 2017 and shall come into operation on the date appointed by the minister for the coming into operation of the companies act 2017. 1 this act may be cited as the bankruptcy amendment act 2017. Jim mdi insolvensi insolvency kebankrapan bankruptcy muflis penggulungan syarikat winding up carian rasmi likuidasi liquidation jabatan insolvensi malaysia. Insolvency act 1967 as at 1 november 2017 published by the commissioner of law revision malaysia under the authority of the revision of laws act 1968 2017.

Further even under the insolvency act 1967 it continues to refer to the act of bankruptcy and the bankruptcy order. To avoid confusion the ba 1967 is now known as the insolvency act 1967 ia 1967 and these changes were made using the bankruptcy amendment act 2017 baa 2017 to make it clearer we will look at the old law ba 1967 followed by the new law ia 1967 after the baa amendments. Laws of malaysia act 360 insolvency act 1967 an act relating to the insolvency and bankruptcy of an individual and a firm and for connected matters. Short title and commencement 1.

2 this act comes into operation on a date to be appointed by. Avoidance of preferences in certain cases 53a avoidance of assignment of book debts 53b property or proceeds therefrom deemed to be property of director general of insolvency. As highlighted in our previous november 2016 client alert the bill will rename. Minister in the prime minister s department datuk seri azalina othman said had introduced an amendment to the bankruptcy bill 1967 in hopes to reduce the bankruptcy rates in malaysia.

It does not involve corporate insolvency.