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Section 7 – The Provincial Insolvency Act,1920

The Provincial Insolvency Act,1920

Section 7. Petition and adjudication

Subject to the conditions specified in this Act, if a debtor commits an act of insolvency, an insolvency petition may be presented either by a creditor or by the debtor, and the Court may on such petition make an order (hereinafter called an order of adjudication) adjudging him an insolvency.

Explanation.The presentation of a petition by the debtor shall be deemed an act of insolvency within the meaning of this section, and on such petition the Court may make an order of adjudication.

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The Provincial Insolvency Act,1920

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