Debtor's Petition and Order Thereon.
"S. (1) A debtor's petition shall allege that the debtor is unable to pay his debts, and the presentation thereof shall be deemed an act of bank ruptcy without the previous filing by the debtor of any declaration of inability to pay his debts, and the Court shall thereupon make a receiving order.
" (2) A debtor's petition shall not, after presentment, be withdrawn without the leave of the Court.
Effect of Receiving Order.
" 9. (1) On the making of a receiving order an official receiver shall be thereby constituted receiver of the property of the debtor, and thereafter, except as directed by this Act, no creditor to whom the debtor is indebted in respect of any debt provable in bank ruptcy shall have any remedy against the property or person of the debtor in respect of the debt. or shall commence any action or other legal proceedings unless with the leave of the Court and on such terms as the Court may impose.
" (2) But this Section shall not affect the power of any secured creditor to realise or otherwise deal with his security in the same manner as he would have been entitled to realise or deal with it if this Section had not been passed.
43S Discretionary Powers as to Appointment of Receiver and Stay of Proceedings.
" 10. (1) The Court may, if it is shown to be necessary for the protection of the estate, at any time after the presentation of a bankruptcy peti tion, and before a receiving order is made, appoint the official receiver to be interim receiver of the property of the debtor, or of any part thereof. and direct him to take immediate possession thereof or of any part thereof." The official receiver may, if necessary, appoint a special manager of a debtor's estate to act until a trustee is appointed.
(Section 12.) Every receiving order must be gazetted, and advertised in a local paper. (Section 13.) Debtor's Statement of Affairs.
"16. (1) Where a receiving order is made against a debtor, he shall make out and submit to the official receiver a statement of and in relation to his affairs in the prescribed form, veri fied by affidavit, and showing the particulars of the debtor's assets, debts, and liabilities, the names, residences, and occupations of his creditors, the securities held by them respectively, the dates when the securities were respectively given, and such further or other informa tion as may be prescribed or as the official receiver may require.
" (2) The statement shall be so submitted within the following times, namely : " (i) If the order is made on the petition of the debtor, within three days from the date of the order.
" (ii) If the order is made on the petition of a creditor, within seven days from the date of the order.
But the Court may, in either case, for special reasons, extend the time.
" (3) If the debtor fails without reasonable excuse to comply with the require ments of this Section, the Court may, on the application of the official receiver, or of any creditor, adjudge him bankrupt.
" (4) Any person stating himself in writing to be a creditor of the bankrupt may, personally or by agent, inspect this statement at all reasonable times, and take any copy thereof or extract therefrom, but any person untruthfully so stating himself to be a creditor shall be guilty of a contempt of Court, and shall be punishable accordingly on the appli cation of the trustee or official receiver." (See BANKRUPTCY.)