Section 3
Acts of bankruptcy
(1)
A debtor commits an act of bankruptcy in each of the following cases -
(a)
if in Brunei Darussalam or elsewhere, he makes a conveyance or assignment of his property to a trustee or trustees for the benefit of his creditors generally;
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(b)
if in Brunei Darussalam or elsewhere, he makes a fraudulent conveyance, gift, delivery or transfer of his property or of any part thereof;
(c)
if in Brunei Darussalam or elsewhere, he makes any conveyance or transfer of his property or any part thereof, or creates any charge thereon, which would be void as a fraudulent preference if he were adjudged bankrupt;
(d)
if with intent to defeat or delay his creditors he does any of the following things -
(i)
departs out of Brunei Darussalam, or being out of
Brunei
Darussalam remains out of
Brunei
Darussalam;
(ii)
departs from his dwelling-house or usual place of business, or otherwise absents himself, or begins to keep house; or
(iii)
removes his property or any part thereof beyond the jurisdiction of the Court;
(e)
if execution against him has been levied by seizure of his goods under process in an action, or proceedings in the Court, and the goods have been either sold or held by the bailiff for 21 days:
Provided that, where an interpleader summons has been taken out in regard to the goods seized, the time elapsing between the date 011 which such summons is taken out and the date on which the proceedings on such summons are finally disposed of, settled or abandoned shall not be taken into account in calculating the period of 21 days;
I"$ if he files in the Court a declaration of his inability to pay his debts or presents a bankruptcy petition against himself;
(i)
a creditor has obtained a final judgment or final order against him for any amount: and
(ii)
execution thereon not having been stayed, has served on him in Brunei Darussalam or, by leave of the
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Court, elsewhere a bankruptcy notice under this Act;
and
(iii)
he does not, within 7 days after service of the notice, in case the service is effected in Brunei Darussalam and in case the service is effected elsewhere, then within the time limited in that behalf by the order giving leave to effect the service, either comply with the requirements of the notice or satisfy the Court that he has a counterclaim set off or cross demand which equals or exceeds the amount of the judgment debt or sum ordered to be paid and which he could not set up in the action in which the judgment was obtained or the proceedings in which the order was obtained.
For the purposes of this paragraph and of section 4, any person who is for the time being entitled to enforce a final judgment or final order is deemed to be a creditor who has obtained a final judgment or final order; and
(h)
if the debtor gives notice to any of his creditors that he has suspended or that he is about to suspend payment of his debts.
(2)
In this Act, "a debtor" includes any person whether a subject of
His Majesty the Sultan and Yang Di-Pertuan or not, who at the time when any act of bankruptcy was done or suffered by him -
(a)
was personally present in Brunei Darussalam;
(b)
ordinarily resided or had a place of residence in Brunei
Darussalam;
(c)
was carrying on business in
Brunei Darussalam, personally or by means of an agent or manager; or
(4 was a member of a firm or partnership which carried on business in Brunei Darussalam.