432
Table of Correspondence
BETWEEN
THE BILL, ORDINANCE No. 7 OF 1891, AND THE BANKRUPTCY Act, 1914,-Continued.
SUBJECT MATTER
BILL.
Ordinance
No. 7 OF
1891.
BANK-
RUPTCY
ACT, 1914.
REMARKS.
Creditor's petition.
ونت
Debtor's petition.
10
6
Appearance of Offi-
cial Receiver on petition.
Effect of receiving 12
order.
The clause prima facie requires as- sets sufficient to pay dividend
of 15%. The existing practice under section 7 () of Ordinance No. 7 of 1891 is to take 10% as the standard.
The clause prima facie requires as- sets sufficient to pay a dividend of 15%. The exist- ing practice under section 8 (1) of Ordinance No. 7 of 1891 is to take 10% as the standard. It also specifies certain things which will be *sufficient for refus- receiving the
calise
ing
order,
absence of material books of account.
New provision, but in accordance with present practice.
See also clause 14. Clanse 12 (1) fol- lows the English section.
Power to appoint
interim receiver.
13
Power to stay pend- ing proceedings.
10 (1)
9
The present Ordi-
nance is unsatis-
Factory
point :
See Re
Yim Ko Yun, ete,
(1927) 22 HI.K. L.R. 118.
ON this
Power
to appoint
15
12
10
special manager,
Advertisement of 16
receiving order.
Majority of creditors
in Scotland or Ire- land.
13
2
Unnecessary,