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Section 37:

Insolvency Act · SECOND SCHEDULE

consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.

37. (1) This paragraph applies if a person (“A”)— (a) is, at the time of adjudication or commencement of the winding up, surety or liable for a debt or liability of the debtor; and (b) discharges the debt or liability, even after adjudication or commencement of the winding up. (2) A has the benefit of the rules in subparagraphs (3) and (4). (3) If the creditor in question has submitted a proof of debt for the debt or liability, A may stand in the creditor’s place in respect of the proof. (4) If the creditor in question has not submitted a proof of debt for the debt or liability, A may— (a) prove for the payment that A has made as if the payment were a debt, without undoing dividends already paid to the creditor in the bankruptcy or winding up; and (b) receive dividends paid subsequently. THIRD SCHEDULE [Section 52] BANKRUPT’S PUBLIC EXAMINATION

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