Section 7: Petition and adjudication — Provincial Insolvency Act, 1920

Current legal status not independently verified — Source: Pakistan Code (single official PDF, 2026-08-21). Whether this provision is still in force has not been independently verified.

Discuss this provision with AI

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 insolvent. 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. 1Subs by the Central Laws (Statute Reform) Ordinance, 1960 (21 of 1960), s. 3 and 2nd Sch. (with effect from the 14th October, 1955), for “the Provinces and the Capital of the Federation” which had been subs. by A. O., 1949, for “British India”.

Effective date: 1920-01-01

Related sections

Section 6: Acts of insolvency. A debtor commits an act of insolvency in each of the following cases Section 8: Exemption of corporation, etc., from insolvency proceedings Section 5: General powers of Courts Section 9: Conditions on which creditor may petition Section 4: Power of Court to decide all questions arising in insolvency Section 10: Conditions on which debtor may petition

Version provincial-insolvency-act-1920~PK-FED~base · Source-traceable official reference. LawHub does not modify the official record.