BANKRUPTCY.
'No. 10 of 1931.
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under this sub-section, any debt provable in other respects, which has been contracted before the adjudication, shall be provable in the bankruptcy.
(17) If under or in pursuance of a composition or scheme a trustee is appointed to administer the debtor's property or manage his business or to distribute the composition, section 29 and Part V shall apply as if the trustee were a trustee in a bankruptcy and as if the terms "bankruptcy", "bankrupt" and "order of adjudication" included respectively a composition or scheme of arrangement, a compounding or arranging debtor and an order approving the composition or scheme.
(18) Part III shall, so far as the nature of the case and the terms of the composition or scheme admit, apply thereto, the same interpretation being given to the words "trustee", "bankruptcy", "bankrupt" and "order of adjudication", as in sub-section (17).
(19) No composition or scheme shall be approved by the court which does not provide for the payment in priority to other debts of all debts directed to be so paid in the distribution of the property of a bankrupt.
(20) The acceptance by a creditor of a composition or scheme shall not release any person who under this Ordinance would not be released by an order of discharge if the debtor had been adjudged bankrupt.
or scheme.
21. Notwithstanding the acceptance and approval of a composition or scheme, the composition or scheme shall not be binding on any creditor so far as regards a debt or liability from which under the provisions of this Ordinance the debtor would not be released by an order of discharge in bankruptcy, unless the creditor assents to the composition or scheme. 4 & 5 Geo. 5, c. 59, s. 17.
Adjudication of bankruptcy.
22. (1) Where a receiving order is made against a debtor, then if the creditors at the first meeting or any adjournment thereof by ordinary 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 approved in pursuance of or not
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BANKRUPTCY.
'No. 10 of 1931.
1857
under this sub-section, any debt provable in other respects, which has been contracted before the adjudication, shall be provable in the bankruptcy.
(17) If under or in pursuance of a composition or scheme a trustee is appointed to administer the debtor's property or manage his business or to distribute the composition, section 29 and Part V shall apply as if the trustee were a trustee in a bankruptcy and as if the terms "bankruptcy ", "bankrupt" and "order of adjudication "included respectively a composition or scheme of arrangement, a compounding or arranging debtor and an order approving the composition or scheme.
(18) Part III shall, so far as the nature of the case and the terms of the composition or scheme admit, apply thereto, the same interpretation being given to the words "trustee ", "bankruptcy", " bankrupt and "order of adjudication ", as in sub-section (17).
""
(19) No composition or scheme shall be approved by the court which does not provide for the payment in priority to other debts of all debts directed to be so paid in the distribution of the property of a bankrupt.
(20) The acceptance by a creditor of a composition or scheme shall not release any person who under this Ordinance would not be released by an order of discharge if the debtor had been adjudged bankrupt.
or scheme.
21. Notwithstanding the acceptance and approval of a com- Effect of position or scheme, the composition or scheme shall not be composition binding on any creditor so far as regards a debt or liability from 4 & 5 Geo. 5, which under the provisions of this Ordinance the debtor would c. 59, s. 17. not be released by an order of discharge in bankruptcy, unless the creditor assents to the composition or scheme.
Adjudication of bankruptcy.
22. (1) Where a receiving order is made against a debtor, Adjudication then if the creditors at the first meeting or any adjournment of bank- thereof by ordinary resolution resolve that the debtor be adjudged composition
ruptcy where bankrupt, or pass no resolution, or if the creditors do not meet,
not accepted or if a composition or scheme is not approved in pursuance of approved.
or not
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