182783-1931-Supplementary-Draft-Bill--Bankruptcy — Page 18

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(10) If there be no committee of inspection, any 4 & 5 Geo. 5, act or thing or any direction or permission by this 59, Ordinance authorised or required to be done or given

s. 20 (10). by the committee may be done or given by the court on the application of the trustee.

scheme after

25.-(1) Where a debtor is adjudged bankrupt the Power to creditors may, if they think fit, at any time after the accept com- adjudication, by a majority in number and three- position or fourths in value of all the creditors who have proved, adjudication. resolve to accept a proposal for a composition in 4 & 5 Geo. 5, satisfaction of the debts due to them under the bank- c. 59. ruptcy, or for a scheme of arrangement of the bank- s. 21 (1). rupt's affairs, and thereupon the same proceedings shall be taken and the same consequences shall ensue

as in the case of a composition or scheme accepted before adjudication.

(2) If the court approves the composition or 4 & 5 Geo. 5, scheme, it may make an order annulling the bank-59, ruptcy and vesting the property of the bankrupt in s. 21 (2). him or in such other person as the court may appoint, on such terms, and subject to such condi- tions. if any, as the court may declare.

(3) If default is made in payment of any instal- 4 & 5 Geo. 5,

c. 59, ment due in pursuance of the composition or scheme,

s. 21 (3). or if it appears to the court that the composition cr scheme, cannot proceed without injustice or undue delay, or that the approval of the court was obtained by fraud, the court may, if it thinks fit, on application by any person interested, adjudge the debtor bankrupt, and annul the composition or scheme. but without prejudice to the validity of any sale, disposition or payment duly made, or thing duly done, under or in pursuance of the com- position or scheme. Where a debtor is adjudged bankrupt under this sub-section, all debts, provable in other respects, which have been contracted before the date of such adjudication shall be provable in the bankruptcy.

Control over Person and Property of Debtor.

26.-(1) Every debtor against whom a receiving Duties of order is made shall, unless prevented by sickness or debtor as to other sufficient cause, attend the first meeting of his discovery

and realisa- creditors, and shall submit to such examination and

tion of give such information as the meeting may require. property.

4 & 5 Geo. 5, c. 59,

s. 22 (1).

(2) He shall give such inventory of his property, 4 & 5 Geo. 5, such list of his creditors and debtors, and of the debts c. 59,

s. 22 (2). due to and from them respectively, submit to such examination in respect of his property or his creditors, attend such other meetings of his creditors, wait at such times on the Official Receiver, special manager, or trustee, execute such powers of attorney, convey- ances, deeds, and instruments, and generally do all such acts and things in relation to his property and the distribution of the proceeds amongst his creditors, as may be reasonably required by the Official Receiver, special manager, or trustee, or may be provided by this Ordinance, or be prescribed, or be directed by the court by any special order or orders made in reference to any particular case, or made on the occasion of any special application by the Official Receiver, special manager, trustee, or any creditor or person interested.

(3) He shall, if adjudged bankrupt, aid, to the 4 & 5 Geo. 5, utmost of his power, in the realisation of his property c. 59, and the distribution of the proceeds among his gradi, s. 22 (3).