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Section 2 – The Provincial Insolvency Act,1920

The Provincial Insolvency Act,1920

Section 2. Definitions

(1) In this Act, unless there is anything repugnant in the subject or context, –

(a) “Creditor” includes a decree-holder, “debt” includes a judgment-debt, and “debtor” includes a judgment-debtor;

(b) “District court” means the Principal Civil Court of original jurisdiction in any area outside the local limits for the time being of the Presidency-towns.

(c) “Prescribed” means prescribed by rules made under this Act;

(d) “Property” includes any property over which or the profits of which any person has a disposing power, which he may exercise for his own benefit;

(e) “Secured creditor” means a person holding a mortgage, charge or lien on the property of the debtor or any part thereof as a security for a debt due to him from the debtor; and

(f) “Transfer of property” includes a transfer of any interest in property and the creation of any charge upon property.

(2) Words and expressions used in this Act and defined in the Code of Civil Procedure,1908 (5 of 1908), and not hereinbefore defined shall have the same meanings as those respectively attributed to them by the said Code.

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The Provincial Insolvency Act,1920

Indian Laws – Bare Acts


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