BANKRUPTCY AMENDMENT ACT 1991 No. 9 of 1992 - SECT 16 Effect of composition or scheme of arrangement

BANKRUPTCY AMENDMENT ACT 1991 No. 9 of 1992 - SECT 16

16. Section 75 of the Principal Act is amended:

   (a)  by omitting from subsections (1) and (3) "and approved";

   (b)  by omitting from subsection (2) "and approval";

   (c)  by omitting subparagraph (4)(b)(ii) and substituting the following
        subparagraphs:
  "(ii)   the approval of the creditors was obtained by a misrepresentation by
the former bankrupt; or

   (iii) it is desirable that the affairs of the former bankrupt be
        investigated and administered under the provisions of this Act
        relating to bankruptcy; or

   (iv) it is likely that the creditors will receive a greater dividend if the
        former bankrupt is again made a bankrupt;".