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Report No. 168

25. Insolvency of hirer, etc.-

(2) The Official Receiver or the liquidator, as the case may, with the permission of the Insolvency Court or the Court in which the winding up proceedings are pending, assign the rights of the hirer under the agreement, to any other person, and the assignee shall have all the rights and be subject to all the obligations of the hirer under the agreement.

Explanation.-In this section, "Official Receiver" means an Official Receiver appointed under the Provincial Insolvency Act, 1920 (5 of 1920), and includes any person holding a similar office under any other law with respect to insolvency for the time being in force.

The Hire-Purchase Act, 1972 Back

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