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Report No. 26

50. Intimation of after-acquired property.-(1) Where after adjudication any property is acquired by or devolves on the insolvent after adjudication, the insolvent shall, within one month of such acquisition or devolution, send an intimation in writing to the Official Assignee of such acquisition or devolution in the prescribed form and giving the prescribed particulars.

(2) The provisions of this section shall not apply to-

(a) salary;

(b) property specified in sub-section (1) of section 48;

(c) property acquired in the course of business by the insolvent, where such business is carried on by him with the permission of the court under section 79;

(d) any goods the value whereof does not exceed one hundred rupees.

[New] (As to after-acquired property where discharge is conditioned, see Mulla (1958) page 394 and Bombay Rule 133 under P.T.A.]



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