612
Making of order for immediate possession of bankrupt's property after petition. [40 & 47 Vict. c. 52 s. 10.]
**
Appointment of manager or interim receiver. [ib. s. 12.]
No. 7 of 1891.
BANKRUPTCY.
execution against the person of the debtor shall be stayed until the debtor finds sufficient security, to appear and abide by all orders of the Court in relation to the bankruptcy proceedings or until further order, and in such case any creditor may, in the meantime, proceed to execution against the person of the debtor in the same way as if no receiving order had been made.
(2) Nothing in sub-section (1) shall affect the power of any secured creditor to realize or otherwise deal with his security in the same manner as he would have been entitled to realize or deal with it if this section had not been passed.
(3) If, at the date of the receiving order, the debtor is a prisoner under an execution for a civil debt, he shall not be entitled to his release except by order of the Court, but the Court may, in its discretion, order his release either unconditionally or subject to such conditions as it may deem fit to secure the debtor's presence at the subsequent proceedings or otherwise.
11. (1) The Court, if it is shown to be necessary for the protection of the estate, may, at any time after the presentation of a bankruptcy petition and before a receiving order is made, appoint the Official Receiver to be interim receiver of the property of the debtor or of any part thereof, and direct him to take immediate possession thereof or of any part thereof, including all books of account and other papers and documents belonging to the debtor and relating to his business.
(2) At any time after the presentation of a bankruptcy petition, the Court may, in its discretion, stay any action, execution, or other legal process against the property or person of the debtor or allow it to continue on such terms as it may think just.
12.-(1) In any case where it is desirable that the debtor's business be temporarily carried on and it is inconvenient for the Official Receiver to carry it on, the Court may appoint a special manager for the purpose to act under the direction of the Official Receiver until the appointment of the trustee.
(2) The Court may also, if necessary, appoint an interim receiver for the protection of the estate to act under the direction of the Official Receiver.
(3) The special manager or interim receiver shall receive such remuneration and give such security as the Court may order.
* As amended by No. 1 of 1912.
612
Making of
order for immediate possession of bankrupt's property
after petition. [40 & 47 Vict. c. 52 s. 10.]
**
Appoint-
ment of
manager or interim receiver.
[ib. s. 12.j
No. 7 of 1891.
BANKRUPTCY.
execution against the person of the debtor shall be stayed until the debtor finds sufficient security, to appear and abide by all orders of the Court in relation to the bankruptcy proceedings or until further order, and in such case any creditor may, in the meantime, proceed to execution against the person of the debtor in the same way as if no receiving order had been made.
(2) Nothing in sub-section (1) shall affect the power of any secured creditor to realize or otherwise deal with his security in the same manner as he would have been entitled to realize or deal with it if this section had not been passed.
(3) If, at the date of the receiving order, the debtor is a prisoner under an execution for a civil debt, he shall not be entitled to his release except by order of the Court, but the Court may, in its dis- cretion, order his release either unconditionally or subject to such conditions as it may deem fit to secure the debtor's presence at the subsequent proceedings or otherwise.
11. (1) The Court, if it is shown to be necessary for the protec- tion of the estate, may, at any time after the presentation of a bankruptcy petition and before a receiving order is made, appoint the Official Receiver to be interim receiver of the property of the debtor or of any part thereof, and direct him to take immediate pos- session thereof or of any part thereof, including all books of account and other papers and documents belonging to the debtor and relating to his business.
(2) At any time after the presentation of a bankruptcy petition, the Court may, in its discretion, stay any action, execution, or other legal process against the property or person of the debtor or allow it to continue on such terms as it may think just.
12.-(1) In any case where it is desirable that the debtor's business be temporarily carried on and it is inconvenient for the Official Receiver to carry it on, the Court may appoint a special manager for the purpose to act under the direction of the Official Receiver until the appointment of the trustee.
(2) The Court may also, if necessary, appoint an interim receiver for the protection of the estate to act under the direction of the Official Receiver.
(3) The special manager or interim receiver shall receive such remuneration and give such security as the Court may order.
* As amended by No. 1 of 1912.
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