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INSOLVENCY ACT 1967 – A FRESH FINANCIAL START: THE EVOLUTION OF BANKRUPTCY PROVISIONS IN MALAYSIA’S INSOLVENCY ACT
The main intent of the recent amendment to Insolvency Act which came into force on 6.10.2023 is to provide individuals with a chance for a new beginning. Everyone can encounter financial difficulties and these updated provisions aim to ensure that a person facing bankruptcy is not perpetually weighed down by prior financial missteps or unexpected hurdles.