ADVOKS GLOBAL · KENYA
Insolvency Act
355. When Official Receiver may terminate no-asset procedure
Edition: 2022-12-31 · In force
355. When Official Receiver may terminate no-asset procedure
(1)The Official Receiver shall terminate a debtor's participation in the no-asset procedure if satisfied—(a)that the debtor was wrongly admitted to the no-asset procedure (for example, because the debtor concealed assets) or misled the Official Receiver; or(b)that the debtor's financial circumstances have changed sufficiently to enable the debtor to repay an amount towards the debtor's debts.(2)The debtor's participation in the no-asset procedure is terminated by the Official Receiver sending a notice to that effect to the debtor at the debtor's last known address.(3)The termination takes effect when the notice is sent, whether or not the debtor receives it.(4)As soon as practicable after the termination of a debtor's participation in the no-asset procedure, the Official Receiver shall send a notice of the termination to each creditor of the debtor known to the Official Receiver.