Bankruptcy Act 1988

Petition for protection.

(1857, s. 343)

87

87. (1) Any debtor unable to meet his engagements with his creditors and wishing to place the state of his affairs before them with a view to making a proposal for the composition of his debts, under the control of the Court, and to subject himself to the jurisdiction of the Court as provided by this Part may present a petition to the Court setting out the reason for his inability to pay his debts and requesting that his person and property may be protected until further order from any action or other process.

(2) The Court, on such petition, may by order grant such protection and renew the same from time to time as it thinks fit.

(3) The Court may refuse to grant protection to any debtor who is a member of a partnership, unless all the partners join in the petition.

(1872, s. 62)

(4) In this section “ process” includes a bankruptcy summons and the registration of F80 [ a judgment mortgage under section 116 of the Land and Conveyancing Law Reform Act 2009 ].

(5) While an order for protection is in force a creditor shall not be entitled to register any F80 [ judgment mortgage ] referred to in subsection (4) and any purported registration shall be of no effect.

(New)

(6) If a debtor, at the time of his petition, is in prison by virtue of section 6 of the Enforcement of Court Orders Act, 1940, the Court, on granting protection, may order his release.

Annotations:

Amendments:

F80

Substituted (1.12.2009) by Land and Conveyancing Law Reform Act 2009 (27/2009), s. 8(1) and sch. 1, S.I. No. 356 of 2009.

Editorial Notes:

E28

Previous affecting provision: section repealed by Personal Insolvency Act 2012 (44/2012), s. 6 and sch. 1, not commenced; repealed (3.12.2013) by Courts and Civil Law (Miscellaneous Provisions) Act 2013 (32/2013), s. 37, S.I. No. 463 of 2013.