Section 80: Filing of proposal
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.
80. Filing of proposal
(1) The proposal shall be filed in Court and the trustee referred to in section 79 (6) (b) shall become the provisional trustee.
(2) The insolvent may not, while waiting for the decision of the creditors
and the Court, withdraw the proposal or any security or guarantee tendered
with it, unless he obtains the permission of the Court.
(3) The time when the proposal is filed in Court is the time when the
claims of creditors are determined.
I14 – 49 [Issue 3]
Insolvency Act
(4) Where the creditors at a meeting under section 81 do not accept the
proposal—
(a) the chairperson of the meeting shall return the proposal to the
Court with his signed endorsement “Not accepted by creditors”;
and
(b) the Court shall cancel the proposal.