### Bankruptcy Ordinance 《破產條例》

20H. Effect of approval
(1) Where the meeting summoned under section 20E approves the proposed voluntary arrangement (with or without modifications)—
(a) the approved arrangement—
(i) takes effect as if made by the debtor at the meeting; and
(ii) binds every person who in accordance with the rules had notice of, and was entitled to vote at, the meeting (whether or not he was present or represented at it) as if he were a party to the arrangement; and
(b) any interim order in force in relation to the debtor immediately before the end of the period of 28 days beginning with the day on which the report with respect to the creditors’ meeting was made to the court under section 20G ceases to have effect at the end of that period.
(2) Subsection (1)(b) applies except to such extend as the court may direct for the purposes of any application under section 20J.
(3) Where proceedings on a bankruptcy petition have been stayed by an interim order which ceases to have effect under subsection (1)(b), that petition is deemed, unless the court otherwise orders, to have been dismissed.
(Added 76 of 1996 s. 13)

20I. Effect where debtor an undischarged bankrupt
(1) Where the creditors’ meeting summoned under section 20E approves the proposed voluntary arrangement (with or without modifications) and the debtor is an undischarged bankrupt, the court may—
(a) annul the bankruptcy order by which he was adjudged bankrupt; or
(b) give such directions with respect to the conduct of the bankruptcy and the administration of the bankrupt’s estate as it thinks appropriate for facilitating the implementation of the approved voluntary arrangement.
(2) The court shall not annul a bankruptcy order under subsection (1)—
(a) at any time before the end of the period of 28 days beginning with the day on which the report of the creditors’ meeting was made to the court under section 20G; or
(b) at any time when an application under section 20J, or an appeal in respect of such an application, is pending or at any time in the period within which such an appeal may be brought.
(Added 76 of 1996 s. 13)

### Bankruptcy Ordinance 《破產條例》

20K. Implementation and supervision of approved voluntary arrangement
(1) Where a voluntary arrangement approved by a creditors’ meeting summoned under section 20E has taken effect and the debtor, any of his creditors or any other interested person is dissatisfied by any act, omission or decision of the nominee, he may apply to the court; and on such an application the court may—
(a) confirm, reverse or modify any act or decision of the nominee;
(b) give him directions; or
(c) make such other order as it thinks fit.
(2) The nominee may apply to the court for directions in relation to any particular matter arising under the voluntary arrangement.
(3) The court may, whenever—
(a) it is expedient to appoint a person to carry out the functions of the nominee; and
(b) it is inexpedient, difficult or impracticable for an appointment to be made without the assistance of the court,
make an order appointing a person who is experienced in insolvency matters, either in substitution for the existing nominee or to fill a vacancy.
(Added 76 of 1996 s. 13)

20L. Default in connection with voluntary arrangement
(1) The court shall not make a bankruptcy order on a petition under section 3(1)(c) (nominee of, or person bound by, voluntary arrangement proposed and approved) unless it is satisfied—
(a) that the debtor has failed to comply with his obligations under the voluntary arrangement; or
(b) that information which was false or misleading in any material particular or which contained material omissions—
(i) was contained in any statement of affairs or other document supplied by the debtor under sections 20 to 20K to any person; or 
(ii) was otherwise made available by the debtor to his creditors at or in connection with a meeting summoned under those sections; or
(c) that the debtor has failed to do all such things as may for the purposes of the voluntary arrangement have been reasonably required of him by the nominee of the arrangement.
(2) Where a bankruptcy order is made on a petition under section 3(1)(c), any expenses properly incurred as expenses of the administration of the voluntary arrangement in question shall be a first charge on the bankrupt’s estate.
(Added 76 of 1996 s. 13)

### Bankruptcy Ordinance 《破產條例》

23. Provisions where person other than Official Receiver is appointed trustee
(1) Where in a bankruptcy a person other than the Official Receiver is appointed trustee, that person—
(a) shall not be capable of acting as trustee until he has notified his appointment to the Official Receiver and given security as provided in subsection (2)(a) to the satisfaction of the Official Receiver;
(b) shall give the Official Receiver such information and such access to and facilities for inspecting the books and documents of the bankrupt, and generally such aid as may be requisite for enabling the Official Receiver to perform his duties under this Ordinance. (Amended 18 of 2005 s. 10)
(2) In the case of a trustee other than the Official Receiver, the following provisions as to security shall have effect, namely—
(a) the security shall be given to the Official Receiver in such manner as he may from time to time direct;
(b) it shall not be necessary that security shall be given in each separate bankruptcy; but security may be given either specially in a particular bankruptcy, or generally, to be available for any bankruptcy in which the person giving security may be appointed, as trustee;
(c) the Official Receiver shall fix the amount and nature of such security, and may from time to time, as he thinks fit, either increase or diminish the amount of special or general security which any person has given;
(d) the cost of furnishing the required security by a trustee, including any premiums which he may pay to a guarantee society, shall be borne by him personally, and shall not be charged against the assets of the estate as an expense incurred in the bankruptcy.
(Replaced 76 of 1996 s. 14)

24. Creditors’ committee
(1) The creditors qualified to vote may at their first or any subsequent meeting, by resolution, appoint a creditors’ committee to act with the trustee.
(2)-(9) (Repealed 76 of 1996 s. 15)(10) If there be no creditors’ committee any act or thing or any direction or permission by this Ordinance authorized or required to be done or given by the committee may be done or given by the court on the application of the trustee.
(Amended 76 of 1996 s. 15)[cf. 1914 c. 59 s. 20 U.K.]