On 23/05/2013,
you requested for the version in force on 23/05/2013
incorporating all amendments published on or before 23/05/2013.
The closest version currently available is that of 31/10/2009.
45.
—(1) Subject to subsection (2), any insolvent debtor who intends to make a proposal to his creditors for a composition in satisfaction of his debts or a scheme of arrangement of his affairs (referred to hereinafter as a voluntary arrangement) may apply to the court for an interim order under this Part.
(2) No partner in an insolvent firm shall apply to the court for an interim order in respect of the firm unless all or a majority of the partners in the firm join or intend to join in the making of the proposal for a voluntary arrangement.
(3) An interim order shall have the effect that, during the period for which it is in force —
(a)
where the interim order is in respect of an individual debtor —
(i)
no bankruptcy application may be made or proceeded with against the debtor; and
(ii)
no other proceedings, execution or other legal process may be commenced or continued against the person or property of the debtor without the leave of the court; and
(b)
where the interim order is in respect of a firm —
(i)
no bankruptcy application may be made or proceeded with against the firm or, except with the leave of the court, any partner therein; and
(ii)
no other proceedings, execution or other legal process may be commenced or continued against the firm or its property or against the person or property of any partner in the firm, without the leave of the court.
[42/2005]
(4) An interim order shall cease to have effect 42 days after the making thereof unless the court otherwise directs.
[37/99]