Insolvency Act Cap 53 in Kenya

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Search Results...

727 sections

• Section 331 of Insolvency Act CAP 53: Termination of supervisor's appointment for failure to supervise adequately
  

  If of the opinion that the supervisor has failed to supervise the debtor's compliance adequately, the Official Receiver shall terminate the supervisor's appointment and appoint a replacement supervisor.

  
  
• Section 332 of Insolvency Act CAP 53: Period for payment of instalments
  

  The payment of instalments under a summary instalment order can be spread over a period not exceeding — (a) three years; or (b) if justified by special circumstances acceptable to the supervisor—five years.

  
  
• Section 333 of Insolvency Act CAP 53: Variation or discharge of summary instalment orders
  

  (1) The debtor, any creditor or the supervisor may at any time apply in writing to the Official Receiver to vary or discharge a summary instalment order. (2) After considering an application made under subsection (1), the Official Receiver shall vary or discharge the order as the Official Receiver...

  
  
• Section 334 of Insolvency Act CAP 53: Effect of summary instalment orders
  

  (1) The debtor shall pay all instalments payable under a summary instalment in the manner prescribed by the insolvency regulations. (2) The Official Receiver shall cancel a summary instalments order on being satisfied on reasonable grounds that the debtor has failed to comply with subsection...

  
  
• Section 335 of Insolvency Act CAP 53: Restrictions on bringing proceedings against debtors while summary instalment order has effect
  

  (1) In this section, "proceedings", in relation to a debtor in respect of whom a summary instalment order has been made, means proceedings brought against the person or property of the debtor in respect of a debt that has been— (a) shown in the debtor's application for the summary instalment...

  
  
• Section 336 of Insolvency Act CAP 53: Supervisor to give notice of summary instalment order to creditors
  

  (1) The supervisor shall send a notice of the summary instalment order to every creditor— (a) who is known to the supervisor; (b) whose name is shown on the debtor's application for the order; or (c) who has proved a debt under section 340. (2) A supervisor who, without reasonable excuse, fails to...

  
  
• Section 337 of Insolvency Act CAP 53: Public register of debtors subject to current summary instalment order
  

  (1) The Official Receiver shall establish and maintain a public register of persons who are subject to current summary instalment orders. (2) The Official Receiver shall maintain the register in accordance with Division 2 of Part XII.

  
  
• Section 338 of Insolvency Act CAP 53: When summary instalment order ceases to be current
  

  A summary instalment order is not current if it has been discharged or all the instalments required to be paid under the order have been paid in accordance with the order.

  
  
• Section 339 of Insolvency Act CAP 53: Claims of creditors when summary instalment has effect
  

  (1) A creditor who has proved the creditor's debt to the satisfaction of the supervisor is entitled to be included as a creditor in the administration of the debtor's estate under the summary instalment order for the amount of the debt. (2) A creditor may object to the supervisor's acceptance or...

  
  
• Section 340 of Insolvency Act CAP 53: Payment of debtor's earnings to supervisor
  

  (1) This section applies if the supervisor, under a power conferred by a summary instalment order made by the Official Receiver, directs the debtor's employer to pay the debtor's earnings, or part of them, to the supervisor. (2) The amounts that the employer shall pay to the supervisor are...

  
  
• Section 341 of Insolvency Act CAP 53: Consequences of default by debtor to pay amount due under summary instalment order
  

  (1) A debtor who fails to pay an amount due under a summary instalment order is presumed, unless the contrary is proved— (a) to have been able to pay the amount from the date of the order; and (b) to have refused or neglected to pay it. (2) If the debtor fails to make a payment in accordance with...

  
  
• Section 342 of Insolvency Act CAP 53: Offence for debtor to obtain credit while summary instalment order has effect
  

  (1) A debtor in respect of whom a summary instalment order is in effect commits an offence if, before all creditors have been paid the amounts to which they are entitled under the order, the debtor— (a) alone or jointly with another person, obtains credit of one hundred thousand shillings or...

  
  
• Section 343 of Insolvency Act CAP 53: Division 3: introduction
  

  This Division prescribes a procedure for dealing with a debtor who has no realisable assets.

  
  
• Section 344 of Insolvency Act CAP 53: Application for entry to no-asset procedure
  

  (1) A debtor who meets the criteria set out in section 345 may apply to the Official Receiver for entry to the no-asset procedure. (2) A debtor can apply for entry to the no-asset procedure by completing the following documents and lodging them with the Official Receiver— (a) an application in the...

  
  
• Section 345 of Insolvency Act CAP 53: Criteria for entry to no-asset procedure
  

  (1) The Official Receiver shall admit a debtor to the no-asset procedure if satisfied on reasonable grounds that— (a) the debtor has no realisable assets; (b) the debtor has not previously been admitted to the no-asset procedure; (c) the debtor has not previously been adjudged bankrupt; (d) the...

  
  
• Section 346 of Insolvency Act CAP 53: Debtor disqualified from entry to no-asset procedure in certain cases
  

  The Official Receiver shall not admit a debtor to the no-asset procedure if satisfied, on reasonable grounds, that— (a) the debtor has concealed assets with the intention of defrauding the debtor's creditors (such as by transferring property to a trust); (b) the debtor has engaged in conduct that...

  
  
• Section 347 of Insolvency Act CAP 53: Official Receiver to notify creditors
  

  As soon as practicable after receiving an application from a debtor for entry to the no-asset procedure, the Official Receiver shall send a summary of the debtor's assets and liabilities to each known creditor of the debtor.

  
  
• Section 348 of Insolvency Act CAP 53: Restrictions on debtor obtaining credit after application made
  

  (1) A debtor who has applied for entry to the no-asset procedure shall not obtain credit (including credit under a credit purchase transaction), either alone or jointly with another person, of more than ten thousand shillings without first informing the credit provider that the debtor has applied...

  
  
• Section 349 of Insolvency Act CAP 53: When debtor admitted to no-asset procedure
  

  (1) A debtor is admitted to the no-asset procedure when the Official Receiver sends the debtor a notice in the form prescribed by the insolvency regulations for the purposes of this section. (2) As soon as practicable after a debtor is admitted to the no-asset procedure, the Official Receiver...

  
  
• Section 350 of Insolvency Act CAP 53: Public register of persons admitted to no-asset procedure
  

  (1) The Official Receiver shall establish and maintain a public register of persons admitted to the noasset procedure and persons discharged from that procedure under section 359. (2) The Official Receiver shall maintain the register in accordance with Division 2 of Part XI.

  
  
• Section 351 of Insolvency Act CAP 53: Creditors may not enforce debts of debtor admitted to no-asset procedure
  

  (1) A creditor of a debtor may not, after the debtor has been admitted to the no-asset procedure, begin or continue any step to recover or enforce a debt— (a) that the debtor owes to the creditor at the time when the debtor applies for entry to the noasset procedure; and (b) that would be provable...

  
  
• Section 352 of Insolvency Act CAP 53: Debtor's duties after entry to no-asset procedure
  

  (1) On being required by the Official Receiver to do so, the debtor shall provide the Official Receiver with such assistance, documents and information as are reasonably necessary in order to apply the no-asset procedure to the debtor. (2) As soon as practicable after any change occurs in the...

  
  
• Section 353 of Insolvency Act CAP 53: Offence for person admitted to no-asset procedure to obtain credit
  

  (1) A person who, while admitted to the no-asset procedure— (a) alone or jointly with another person, obtains credit of one hundred thousand shillings or more; (b) incurs liability to a credit provider for one hundred thousand shillings or more for the purpose of obtaining credit for another...

  
  
• Section 354 of Insolvency Act CAP 53: How debtor's participation in the no-asset procedure is terminated
  

  A debtor's participation in the no-asset procedure terminates when— (a) the Official Receiver terminates the debtor's participation under section 355; (b) the debtor is discharged under section 359; (c) the debtor applies for the debtor's own bankruptcy; or (d) a creditor who is entitled to do...

  
  
• Section 355 of Insolvency Act CAP 53: When Official Receiver may terminate no-asset procedure
  

  (1) The Official Receiver shall terminate a debtor's participation in the no-asset procedure if satisfied— (a) that the debtor was wrongly admitted to the no-asset procedure (for example, because the debtor concealed assets) or misled the Official Receiver; or (b) that the debtor's financial...

  
  
• Section 356 of Insolvency Act CAP 53: Official Receiver may apply for preservation order on ground of debtor's misconduct
  

  (1) If the Official Receiver terminates a debtor's participation in the no-asset procedure on the ground that the debtor has concealed assets or misled the Official Receiver, the Court may, on the application of the Official Receiver, make an order for the preservation of the debtor's assets pending...

  
  
• Section 357 of Insolvency Act CAP 53: Effect of termination of debtor's participation in no-asset procedure
  

  (1) On termination of the debtor's participation in the no-asset procedure— (a) the debtor's debts that became unenforceable on the debtor's entry to the no-asset procedure become again enforceable; and (b) the debtor becomes liable to pay any penalties and interest that may have...

  
  
• Section 358 of Insolvency Act CAP 53: Creditor may apply to Official Receiver for termination of debtor's participation in noasset procedure
  

  A creditor may apply to the Official Receiver for termination of the debtor's participation in the no-asset procedure on the ground— (a) that the debtor did not meet the criteria for admission to the no-asset procedure; or (b) that there are reasonable grounds for the Official Receiver to conclude...

  
  
• Section 359 of Insolvency Act CAP 53: Discharge of debtor's participation in no-asset procedure
  

  (1) A debtor who is participating in the no-asset procedure is automatically discharged from that procedure at the end of twelve months after the date when the debtor was admitted to it. (2) Subsection (1) does not apply if the Official Receiver— (a) is satisfied that the twelve-month period...

  
  
• Section 360 of Insolvency Act CAP 53: Effect of discharge of debtor's participation in no-asset procedure
  

  (1) On discharge under section 359— (a) the debtor's debts that became unenforceable on the debtor's entry to the no-asset procedure are cancelled; and (b) the debtor is no longer liable to pay any part of the debts, including any penalties and interest that may have accrued. (2) Subsection (1)...