Report No. 26
2. Definitions.-In this Act, unless the context otherwise requires,-
[New] [46th meeting]
(a) "court" means the court having jurisdiction under this Act;
(b) "creditor" includes a decree-holder;
[Section 2(1)(a), part, P.A.]
(c) "debt" includes a judgment-debt;
[Section 2(1)(a), part, P.A.]
(d) "debtor" includes a judgment-debtor, and also any person, whether a citizen of India or not, who, at the time when any act of insolvency was committed by him,-
[Section 2(1)(a), part, P.A.]
(1) was personally present in the territories to which this Act extends; or
(2) was ordinarily resident or had a place of residence in the said territories; or
(3) was carrying on business in the said territories either personally or by means of an agent or manager; or
(4) was a partner of a firm which carried on business in the said territories;
[Cf. section 1(2), Eng. Bankruptcy Act, 1914]
(e) "district court" means the principal civil court of original jurisdiction in a district, but does not include a High Court in its ordinary original civil jurisdiction;
[Section 2(1)(b), P.A.]
(f) "Official Assignee" includes a Deputy Official Assignee;
[New]
(g) "prescribed" means prescribed by rules made under this Act;
[Section 2(1)(c), P.A.]
(h) "property" includes any property over which or the profits of which any person has a disposing power which he may exercise for his own benefit;
[Section 2(1)(d), P.A.]
(i) "secured creditor" means a person holding a mortgage, charge or lien on the property of the debtor or any part thereof as the security for a debt due to him from the debtor and includes a landlord who, under any enactment for the time being in force, has a charge on land for the rent of that land;
[Section 2(1)(e), P.A.]
(j) "transfer of property" includes a transfer of any interest in property and the creation or transfer of any charge upon property; and
[Section 2(1)(f), P.A.]
(k) all words and expressions used but not defined in this Act and defined in the Code of Civil Procedure, 1908 (5 of 1908), shall have the meanings respectively assigned to them in that Code.
[Section 2(2), P.A.] [Cf. section 3(25), Navy Act, 1957 (62 of 1957), cf. section 2, P.T.A.]
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