Paragraph 4 Section 266: Other preliminary conditionsI1

Section 266 is modified so as to read as follows—

“266

(1)

If the court is satisfied, on application by any member of an insolvent partnership, that the presentation of the petition under section 264(1) by all the members of the partnership would be impracticable, the court may direct that the petition be presented by such member or members as are specified by the court.

(2)

A joint bankruptcy petition shall not be withdrawn without the leave of the court.

(3)

The court has a general power, if it appears to it appropriate to do so on the grounds that there has been a contravention of the rules or for any other reason, to dismiss joint bankruptcy petition or to stay proceedings on such a petition; and, where it stay proceedings on a petition, it may do so on such terms and conditions as it thinks fit.”.