618
No. 7 of 1891.
BANKRUPTCY.
Causes in application of bankruptcy to be made.
[46 & 47 Vict. c. 52 s. 20.]
Adjudication of bankruptcy.
19. (1) Where a receiving order is made against a debtor, then, if the creditors, at the first meeting or any adjournment thereof, by resolution resolve that the debtor be adjudged bankrupt or pass no resolution, or if the creditors do not meet, or if a composition or scheme is not accepted or approved within 14 days after the conclusion of the examination of the debtor or such further time as the Court may allow, the Court shall adjudge the debtor bankrupt; and thereupon the property of the bankrupt shall become divisible among his creditors and shall vest in a trustee.
(2) Notice of every order adjudging a debtor bankrupt, stating the name, address, and description of the bankrupt, the date of the adjudication, and the name of the trustee, shall be gazetted and advertised in at least one local paper.
(3) The date of the order shall, for the purposes of this Ordinance, be the date of the adjudication.
20.—(1) At any time prior to adjudication the creditors may, by ordinary resolution, nominate some fit person to be trustee in the bankruptcy, and on making the adjudication the Court shall appoint the creditor's nominee or, if dissatisfied with the nomination or if there is no nomination, some other person to be trustee. The Official Receiver may be appointed trustee, if the Court thinks fit.
(2) A trustee other than the Official Receiver shall give such security as the Court may direct.
21. (1) At the first or any subsequent meeting the creditors may, by ordinary resolution, appoint from among the creditors qualified to vote or the holders of general proxies or general powers of attorney a Committee of Inspection, consisting of three persons, for the purpose of superintending the administration of the bankrupt's property by the trustee.
(2) Any two members of the Committee may act.
(3) On a vacancy occurring by death, resignation, incapacity, or otherwise, the trustee shall summon a meeting of creditors for the purpose of filling the vacancy, but the continuing members may act notwithstanding the vacancy.
(4) If there is no Committee of Inspection, any act or thing or any direction or permission by this Ordinance authorised or required to be done or given by the Committee may be done or given by the Court on the application of the trustee.
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## Note: The last part of the text appears to be cut off and contains fragmented words that do not form coherent sentences. The correction has been done up to the point where the text is still intelligible and follows the given instructions.618
No. 7 of 1891.
BANKRUPTCY.
}
Cuses in
cation of
bankruptcy to be made.
[46 & 47 Vict. c. 52 s. 20.]
Adjudication of bankruptcy.
19. (1) Where a receiving order is made against a debtor, then, which adjudi- if the creditors, at the first meeting or any adjournment thereof, by resolution resolve that the debtor be adjudged bankrupt or pass no resolution, or if the creditors do not meet, or if a composition or scheme is not accepted or approved within 14 days after the conclu- sion of the examination of the debtor or such further time as the Court may allow, the Court shall adjudge the debtor bankrupt; and thereupon the property of the bankrupt shall become divisible among his creditors and shall vest in a trustee.
form 12.
Nomination, appointment, etc., of trustee.
[ib. s. 21.]
Committee
of Inspection. [ib. s. 22.]
(2) Notice of every order adjudging a debtor bankrupt, stating the name, address, and description of the bankrupt, the date of the adjudication, and the name of the trustee, shall be gazetted and advertised in at least one local paper.
(3) The date of the order shall, for the purposes of this Ordinance, be the date of the adjudication.
20.—(1) At any time prior to adjudication the creditors may, by ordinary resolution, nominate some fit person to be trustee in the bankruptcy, and on making the adjudication the Court shall appoint the creditor's nominee or, if dissatisfied with the nomination or if there is no nomination, some other person to be trustee. The Official Receiver may be appointed trustee, if the Court thinks fit.
(2) A trustee other than the Official Receiver shall give such security as the Court may direct.
21. (1) At the first or any subsequent meeting the creditors may, by ordinary resolution, appoint from among the creditors qualified to vote or the holders of general proxies or general powers of attorney a Committee of Inspection, consisting of three persons, for the purpose of superintending the administration of the bank- rupt's property by the trustee.
(2) Any two members of the Committee may act.
(3) On a vacancy occurring by death, resignation, incapacity, or otherwise, the trustee shall summon a meeting of creditors for the purpose of filling the vacancy, but the continuing members may act notwithstanding the vacancy.
(4) If there is no Committee of Inspection, any act or thing or any direction or permission by this Ordinance authorised or required to be done or given by the Committee may be done or given by the Court on the application of the trustee.
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