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Report No. 26

23. Relation back1 of insolvency.-The insolvency of a debtor, whether the same takes place on the debtor's own petition or on that of a creditor or creditors, shall be deemed to have relation back to and to commence at-

(a) the time of the commission of the act of insolvency on which an order of adjudication is made against him, or

(b) if the insolvent is proved to have committed more acts of insolvency than one, the time of the first of the acts of insolvency proved to have committed by the insolvent within three months next preceding the date of the presentation of the insolvency petition:

Provided that no insolvency petition or order of adjudication shall be rendered invalid by reason of any act of insolvency committed anterior to the debt of the petitioning creditor.

1. The marginal note in section 51, P.T.A. is "Relation of assignee's title." But it is considered that it should be changed to "Relation back of insolvency".

[Section 28(7), P.A.] [Cf. section 51, P.T.A.]

Proceedings consequent on order of adjudication

Insolvency Laws Back

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