42
NO. 37 OF 2001
Consequential amendments to Bankruptcy Act
66. The Bankruptcy Act (Cap. 20) is amended by inserting, immediately after section 148, the following section:
- "Arbitration agreements to which bankrupt is a party
- 148A.—(1) This section shall apply where a bankrupt had become party to a contract containing an arbitration agreement before the commencement of his bankruptcy.
- (2) If the Official Assignee adopts the contract, the arbitration agreement shall be enforceable by or against the Official Assignee in relation to matters arising from or connected with the contract.
- (3) If the Official Assignee does not adopt the contract and a matter to which the arbitration agreement applies requires to be determined in connection with or for the purposes of the bankruptcy proceedings—
- (a) the Official Assignee; or
- (b) any other party to the agreement,
- may apply to the court which may, if it thinks fit in all the circumstances of the case, order that the matter be referred to arbitration in accordance with the arbitration agreement.
- (4) In this section, "court" means the court which has jurisdiction in the bankruptcy proceedings.".
Consequential amendments to Limitation Act
67.—(1) Section 30 of the Limitation Act (Cap. 163) is repealed.
(2) Nothing in this section shall affect the application of section 30 of the Limitation Act in respect of arbitration proceedings under the repealed Arbitration Act (Cap. 10) or the International Arbitration Act (Cap. 143A), as the case may be, commenced before the date of commencement of this Act.
