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Paragraph 3 Petitions for sequestration

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

A petition by the debtor under section 5(2)(a) of the Act of 1985f1 (sequestration of the estate of living debtor) shall be in –

(a)

Form 1 where section 5(2A) of the Act of 1985f2 (with concurrence of qualified creditor or creditors) applies; or

(b)

Form 2 where section 5(2B) of the Act of 1985f3 (without concurrence of qualified creditor or creditors) applies.

(2)

A petition by a qualified creditor under section 5(2)(b) of the Act of 1985 shall be in Form 3.

(3)

A petition by a trustee acting under a trust deed under section 5(2)(c) of the Act of 1985 shall be in Form 4.

(4)

The court, when considering a petition lodged in accordance with paragraph (1) above, shall not require –

(a)

intimation to be made to any person, or

(b)

the debtor to appear or be represented,

unless the court considers it necessary.

(5)

An undertaking by the interim trustee under section 2(3)(c) of the Act of 1985f4 shall be in Form 5.

Annotations

Footnotes

f1

Section 5(2) was substituted by the 1993 Act, section 3(2).

f2

Section 5(2A) was inserted by the 1993 Act, section 3(2).

f3

Section 5(2B) was inserted by the 1993 Act, section 3(2).

f4

Section 2(3)(c) was substituted by the 1993 Act, section 2.