Presidency-towns Insolvency (Amendment) Act, 19201
| [Act No. 11 of 1920] | [11th March, 1920] |
| [Repealed by Act 1 of 1938, S. 2 and Schedule] | [11th March, 1920] |
Passed by the Indian Legislative Council.
An Act further to amend the Presidency-towns Insolvency Act, 1909.
Whereas it is expedient further to amend the Presidency-towns Insolvency Act, 1909 (3 of 1909); It is hereby enacted as follows:-
1 Received the assent of the Governor General on the 11th March, 1920.
1. Short title.- This Act may be called the Presidency-towns Insolvency (Amendment) Act, 1920.
2. Insertion of new section 103A, in Act III of 1909.- After section 103 of the Presidency-towns Insolvency Act, 1909, the following section shall be inserted, namely:-
"103A (1) Disqualifications of insolvent.- Where a debtor is adjudged or read judged insolvent under this Act, he shall, subject to the provisions of this section, be disqualified from-
(a) being appointed or acting as a Magistrate;
(b) being elected to any office of any local authority where the appointment to such, office is by election, or holding or exercising any such office to which no salary is attached; and
(c) being elected or sitting or voting as a member of any local authority.
(2) The disqualifications which an insolvent is subject to under this section shall be removed, and shall cease if-
(a) the order of adjudication is annulled under sub-section (1) of section 21, or
(b) he obtains from the Court an order of discharge, whether absolute or conditional, with a certificate that his insolvency was caused by misfortune without any misconduct on his part.
(3) The Court may grant or refuse such certificate as it thinks fit."