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Section 313 of Insolvency Act CAP 53: Additional effect on undischarged bankrupt

    

(1) If the Court has approved a debtor's proposal in accordance with section 311(7)(a) and the debtor is an undischarged bankrupt—
(a) the bankrupt; or
(b) if the bankrupt has not made an application within the period prescribed by the insolvency regulations for the purposes of this section, the Official Receiver,
may make an application to the Court for an order under subsection (3).
(2) However, such an application may not be made—
(a) during the period within which the decision of the creditors' meeting can be challenged by an application made under section 314(1);
(b) while an application under section 314(1) is pending;
(c) while an appeal in respect of an order made under section 313 is pending; or (d) during the period within which such an appeal may be made.
(3) On the hearing of an application made under subsection (1), the Court shall, subject to subsection (2), annul the bankruptcy order, unless it is of the opinion that there are compelling reasons not to do so.
(4) In making an order under subsection (3), the Court may give such directions about the conduct of the bankruptcy and the administration of the bankrupt's estate as it considers appropriate for facilitating the implementation of the approved proposal.

« Previous:   Section 312 - Effect of approval of debtor's proposal by meeting of creditors or by the Court          Next: »   Section 314 - Right to challenge decision taken at creditors’ meeting

Disclaimer: This document is not to be taken as legal advise.

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