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Section 73: Deed of composition

Insolvency Act · PART II: BANKRUPTCY AND ALTERNATIVES

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.

73. Deed of composition (1) As soon as practicable after the Court has approved a composition— (a) the bankrupt and the Official Receiver shall execute a deed of composition for putting it into effect; and (b) the Official Receiver shall apply to the Court for confirmation of the deed. [Issue 9] I14 – 46 Revised Laws of Mauritius (2) Where it is satisfied that the deed conforms with the composition that it has earlier approved, the Court shall, on payment to the Official Receiver of such commission as may be prescribed— (a) direct that the deed be entered and filed in the Court; and (b) annul the adjudication. (3) An annulment under subsection (2) shall not revest the bankrupt’s property in the bankrupt in accordance with section 68. (4) Where the Court has confirmed the deed and annulled the adjudication— (a) the deed binds all the creditors in all respects as if they had each executed the deed; and (b) the bankrupt’s property to which the deed relates vests and must be dealt with as provided in the deed.

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