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22 February  2021

Act A1624: The Insolvency (Amendment) Act 2020 comes into operation on 1 September 2021.


This is an Act to amend the Insolvency Act 1967 (the  “parent Act”). The highlight of the amending Act is the amendment to section 5(1)(a) of the parent Act which increases the minimum debt threshold for the presentation of a bankruptcy petition from MYR50,000 to MYR100,000. Additionally, the amending Act also empowers the Minister the discretion to further amend the minimum debt threshold for a specific time period, provided that there are special circumstances and that it would not be contrary to public interest to do so.

Click here for the Insolvency (Amendment) Act 2020.