(VOL VII. p. 360).
First meeting
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reason the interest of the creditors so requires, it may, on or after the making of a receiving order, order that the bankruptcy proceedings shall be regulated specially by the court, and such order shall be known as a regulating order.
(2) A regulating order shall be published in such manner as the court may direct, and sections 100B to 100H inclusive shall apply to the bankruptcy proceedings where a regulating order has been made but not otherwise.
(3) Where a regulating order is made the Bankruptcy Rules shall apply mutatis mulandis to the Official Receiver, trustee and committee of inspection appointed or acting after the making of a regulating order, and to the conduct of any ballot or other proceedings ordered by the court under section 1008 or 100F.
(4) Where any order made under sections 1003 to 100G inclusive prescribes any procedure it shall be deemed to be in substitution for the procedure which would be required by this Ordinance but for the making of such order, and in particular where any such order prescribes a procedure for doing something which would otherwise be done at a meeting of creditors no such meeting shall be required to be held.
100B. (1) The court may on the application of the and composi- Official Receiver by order dispense with the summoning of the first meeting of creditors required under section 17. (2) The court may order that the wishes of creditors be ascertained for the purpose of accepting or rejecting any composition in such manner as it may direct without the holding of meetings under section 20 or 25, and for such purpose may direct the manner in which any composition be communicated to such creditors.
(3) Without derogating from the generality of sub- section (2) the court may direct the holding of a ballot and the use of voting letters.
(4) Notwithstanding anything in section 20 or 25. where a majority in number and three-fourths in value of all the creditors who have proved their debt, or who by virtue of section 100H are deemed for voting purposes to have proved a debt exceeding one hundred dollars, agree to accept a composition, the composition shall be deemed to be duly accepted by the creditors, and when approved by the count shall be binding on all the creditors,
(5) For the purposes of this section and section 1000, "composition" means any proposal for a composition in
Adjudication.
Trustee.
Committee of inspection.
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satisfaction of the debts of the debtor or for any scheme of arrangement of the affairs of the debtor.
100C. (1) The court shall on application being made by the Official Receiver adjudge the debtor bankrupt unless-
(a) within one month of the date of the receiving order the debtor submits a proposal under section 20 which-
() in the opinion of the Official Receiver appears to be reasonable and calculated to benefit the general body of creditors; and
(i) is one which the court is not bound to refuse to approve; and
(b) the court approves the composition.
(2) On the adjudication the property of the bankrupt shall become divisible among his creditors and shall vest in a trustees.
(3) The provisions of this section shall be in sub- stitution for subsection (1) of section 22.
100D (1) The court may on application being made by the Official Receiver by order appoint the Official Receiver or such other person recommended by him trustee of the property of the bankrupt, remove any trustee and fill any vacancy. Upon making any order for the appoint- ment or removal of a trustee or for filling any vacancy the provisions of subsections (1) and (4) of section 23, or sub- sections (1), (2) and (3) of section 81, ar subsection (1) of section 96, as the case may be, shall cease to apply to the bankruptcy and any action taken under such provisions in respect of any appointment or removal of a trustee or filling of any vacancy shall cease to have effect.
(2) The court may by order give such directions to a trusice as it shall think fit. Such directions shall be deemed to be the directions of creditors for the purposes of section 82. Neither a trustee nor the Official Receiver shall be required to summon any meetings of creditors save where the court so orders.
100E (1) The court may on application being made by the Official Receiver or trustee by order appoint such qualified persons as it thinks fit as a committee of in- spection for the purpose of superintending the administra- tion of the property of the bankrupt by the trustee, remove any member thereof and fill any vacancy therein.