Provincial Insolvency Act, 1920

The Provincial Insolvency Act, 1920

Rules Regulations Notifications Orders Circulars Ordinance Statutes

Act ID:	192005
Act Number:	05
Enactment Date:	1920-02-25
Act Year:	1920
Short Title:	The Provincial Insolvency Act, 1920
Long Title:	An Act to consolidate and amend the Law relating to Insolvency * as administered by Courts having jurisdiction outside the Presidency-towns *.
Ministry:	Ministry of Corporate Affairs
Enforcement Date:	1920-02-25

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Section 1. Short title and extent.
Section 2. Definitions.
Section 3. Insolvency jurisdiction.
Section 4. Power of Court to decide all questions arising in insolvency.
Section 5. General powers of Courts.
Section 6. Act of insolvency.
Section 7. Petition and adjudication.
Section 8. Exemption of corporation, etc., from insolvency proceedings.
Section 9. Conditions on which creditor may petition.
Section 10. Conditions on which debtor may petition.
Section 11. Court to which petition shall be presented.
Section 12. Verification of petition.
Section 13. Contents of petition.
Section 14. Withdrawal of petitions.
Section 15. Consolidation of petitions.
Section 16. Power to change carriage of proceedings.
Section 17. Continuance of proceedings on death of debtor.
Section 18. Procedure for administration of petition.
Section 19. Procedure on admission of petition.
Section 20. Appointment of interim receiver.
Section 21. Interim proceedings against debtor.
Section 22. Duties of debtors.
Section 23. Release of debtor.
Section 24. Procedure at hearing.
Section 25. Dismissal of petition.
Section 26. Award of compensation.
Section 27. Order of adjudication.
Section 28. Effect of an order of adjudication.
Section 28A. Insolvent's property to comprise certain capacity.
Section 29. Stay of pending proceeding.
Section 30. Publication of order of adjudication.
Section 31. Protection of order.
Section 32. Power to arrest after adjudication.
Section 33. Schedule of creditors.
Section 34. Debts provable under the Act.
Section 35. Power to annul adjudication of insolvency.
Section 36. Power to cancel one of concurrent orders of adjudication.
Section 37. Proceedings on annulment.
Section 38. Compositions and schemes of arrangement.
Section 39. Order on approval.
Section 40. Power to re-adjudge debtor insolvent.
Section 41. Discharge.
Section 42. Cases in which Court must refuse an absolute discharge.
Section 43. Adjudication to be annulled on failure to apply for discharge.
Section 44. Effect of order of discharge.
Section 45. Debt payable at a future time.
Section 46. Mutual dealings and setoff.
Section 47. Secured creditors.
Section 48. Interest.
Section 49. Mode of proof.
Section 50. Disallowance and reduction of entries in schedule.
Section 51. Restriction of rights of creditor under execution.
Section 52. Duties of Court executing decree as to property taken in execution.
Section 53. Avoidance of voluntary transfer.
Section 54. Avoidance of preference in certain cases.
Section 54A. By whom petitions for annulment may be made.
Section 55. Protection of bona fide transactions.
Section 56. Appointment of Receiver.
Section 57. Power to appoint Official Receivers.
Section 58. Powers of Court if no receiver appointed.
Section 59. Duties and powers of receiver.
Section 59A. Power to require information regarding insolvent's property.
Section 60. Special provisions in regard to immovable property.
Section 61. Priority of debts.
Section 62. Calculation of dividends.
Section 63. Right of creditor who has not proved debt before declaration of a dividend.
Section 64. Final dividend.
Section 65. No suit for dividend.
Section 66. Management by and allowance to insolvent.
Section 67. Right of insolvent to surplus.
Section 67A. Committee of inspection.
Section 68. Appeal to Court against receiver.
Section 69. Offences by debtors.
Section 70. Procedure on charge under section 69.
Section 71. Criminal liability after discharge or composition.
Section 72. Undischarged insolvent obtaining credit.
Section 73. Disqualifications of insolvent.
Section 74. Summary administration.
Section 75. Appeals.
Section 76. Costs.
Section 77. Courts to be auxiliary to each other.
Section 78. Limitation.
Section 79. Power to make rules Power to make rules.
Section 80. Delegation of powers to Official Receivers.
Section 81. Power of State Government to bar application of certain provisions to certain Courts.
Section 82. Savings.
Section 83. Repeals.