Bankruptcy Ordinance

(1)
Subject to subsection (2), where a bankruptcy order is made against a debtor
and—
(Amended
76 of 1996 s. 60
)
(a)
the court receives proof to its satisfaction; or
(b)
the provisional trustee reports to the court,
that the property of the debtor is not likely to exceed in value $200,000, the court may make an order that the debtor’s estate be administered in a summary manner, and thereupon the provisions of this Ordinance shall apply subject to the following
modifications—
(Amended
26 of 1985 s. 3
)
(ia)
the first meeting of creditors shall be dispensed with;
(Replaced
76 of 1996 s. 60
)
(i)
the provisional trustee shall be the trustee in the bankruptcy;
(Amended
76 of 1996 s. 60
)
(ii)
there shall be no creditors’ committee, and the trustee may do all things which may be done by a trustee with the permission of a creditors’ committee;
(Amended
76 of 1996 s. 74
)
(iii)
such other modifications as may be prescribed with a view to saving expense and simplifying procedure, but nothing in this section shall permit the modification of the provisions of this Ordinance relating to the examination or discharge of the bankrupt.
(Amended
76 of 1996 s. 72
)
(2)
The court may, upon the application of the trustee, at any time before the discharge of the bankrupt rescind an order made under subsection (1) and thereupon the administration shall proceed as if the order had not been made.
(Amended
76 of 1996 s. 72
)