Bankruptcy Ordinance

(1)
Where the creditors’ meeting summoned under
section 20E
approves the proposed voluntary arrangement (with or without modifications) and the debtor is an undischarged bankrupt, the court
may—
(a)
annul the bankruptcy order by which he was adjudged bankrupt; or
(b)
give such directions with respect to the conduct of the bankruptcy and the administration of the bankrupt’s estate as it thinks appropriate for facilitating the implementation of the approved voluntary arrangement.
(2)
The court shall not annul a bankruptcy order under subsection (1
)—
(a)
at any time before the end of the period of 28 days beginning with the day on which the report of the creditors’ meeting was made to the court under
section 20G
; or
(b)
at any time when an application under
section 20J
, or an appeal in respect of such an application, is pending or at any time in the period within which such an appeal may be brought.