Report No. 26
Annulment of adjudication
30. Power to annul adjudication.-(1) Where, in the opinion of the court, the debtor ought not have been adjudged insolvent, the court shall, on the application of any person interested, by order in writing, annul the adjudication.
[Section 35, part, P.A.I [Cf. section 21(1), part, P.T.A.]
(2) The court shall annul an adjudication on the application of the insolvent or of any other person interested, where it is proved to the satisfaction of the court that the debts of the insolvent provable in insolvency have been paid in full.
[Section 35, part, P.A.] ICf. section 21(1), part, P.T.A.]
(3) The court may, of its own motion or on an application made by the Official Assignee or any creditor, annul an adjudication, where the adjudication was made on the petition of a debtor who was, by reason of the provisions of sub-section (2) of section 6, not entitled to present such petition.
[Section 35, part, P.A.] [Cf. section 21(1), part, P.T.A.]
(4) The court may, of its own motion or on application made by the Official Assignee or any creditor, annul an adjudication where it is proved to the satisfaction of the court that the insolvent has-
(a) kept false books of account or suppressed books of account; or
(b) suppressed or fraudulently disposed of his assets or any part thereof; or
(c) without reasonable cause failed to comply with any of the obligations imposed upon him by or under this Act.
[New]
(5) For the purposes of this section, any debt disputed by an insolvent shall be considered as paid in full if the insolvent enters into a bond, in such sum and with such sureties as the court approves, to pay the amount to be recovered in any proceeding for the recovery of or concerning the debt, with costs, and any debt due to a creditor who cannot be found or cannot be identified shall be considered as paid in full if paid into court.
[New] [Section 21(2), P.T.A.]
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