Bankruptcy (Amendment) Bill 2015

Public bill · Government · Presented

The Bankruptcy (Amendment) Bill 2015 would normally reduce bankruptcy from three years to one, and shorten payment orders from five years to three. A bankrupt person’s home could return to them after three years if it has not been sold or scheduled for sale, while serious concealment of assets or failure to cooperate could extend bankruptcy to as long as 15 years and payment orders to five. It would also remove a compulsory court meeting and modernise bankruptcy procedures, including access to electronic records.

Formal long title

Bill entitled an Act to reduce the term of bankruptcy and bankruptcy payment orders in certain circumstances; to provide for the automatic re-vesting in the bankrupt of his or her family home, shared home or principal private residence in certain circumstances; and for those and other purposes to amend the Bankruptcy Act 1988

Last updated 12 April 2018