Govt to table amendment to Insolvency Act


PETALING JAYA: The government will be tabling an amendment to the Insolvency Act 1967 in this Dewan Rakyat meeting, says Minister in the Prime Minister's Department (Parliament and Law) Datuk Takiyuddin Hassan (pic).

"The government is concerned about (bankruptcy), especially post Covid-19.

"We will table an amendment, specifically Section 5(1) of the Insolvency Act which involves a new (bankruptcy) threshold.

"I cannot make an announcement on this yet as it will be presented in this meeting," he said during Oral Question Time in Dewan Rakyat on Tuesday (Aug 4).

He was answering a supplementary question by Hannah Yeoh (DAP-Segambut) on whether the government would raise the bankruptcy threshold in light of the Covid-19 pandemic.

The bankruptcy threshold was last increased from RM30,000 to RM50,000 in a 2017 amendment.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

93% readers found this article insightful

Next In Nation

No open houses and visits, Sabahans celebrating Chap Goh Meh reminded
Malaysia to receive Sinovac Covid-19 vaccine on Saturday (Feb 27)
Health Ministry: 18 Covid-19 clusters end, eight new ones emerge
MCO violators face up to RM10,000 fine under amended Emergency Ordinance from March 11
Dams and parks under Penang Water Supply Corp to reopen from Friday
JB workshop raided for selling gas cylinders without a licence
Upko welcomes King's advice for Parliament to sit during Emergency
Health Ministry upbeat as daily case numbers dip below 2,000
Dark times for gambling dens as Melaka cops target their power supply
Ismail Sabri: 460 detained for breaching MCO on Thursday (Feb 24)

Stories You'll Enjoy


Vouchers