Press briefing of Cabinet Decision taken on 2021-10-25

Amending the Debt Conciliation Ordinance

- The Debt Conciliation Board expects to protect the rights of the debt-ridden people. It has been identified necessary to amend the Debt Conciliation Ordinance to suit the present needs, enabling the effective performance of the said task. For the purpose, the Advisory Committee to review the Debt Conciliation Ordinance appointed by the Minister of Justice, has formulated a preliminary draft. As such, the proposal made by the Minister of Justice to amend the Debt Conciliation Ordinance based on the said preliminary draft and instruct the Legal Draftsman to formulate a draft Bill for the purpose, was approved by the Cabinet.