Section 1. Short title and extent

1. In the application of the Act to Bombay, a new cl. (i) has been ins. here by the Presidency-towns Insolvency and the Provincial Insolvency (Bombay Amendment) Act, 1939 (Bom. 15 of 1939), s. 3. 2. Ins. by Act 3 of 1950, s. 6 PART VII MISCELLANEOUS 76. Costs. 77. Courts to be auxiliary to each other. 78. Limitation 79. Power to make rules Power to make rules. 80. Delegation of powers to Official Receivers. 81. Power of State Government to bar application of certain provisions to certain Courts. 82. Savings. 83. Repeals. - SCHEDULE I.—DECISIONS AND ORDERS FROM WHICH AN APPEAL LIES TO THE HIGH COURT UNDER SECTION 75(2). - SCHEDULE II.—PROVISIONS OF THE ACT APPLICATION OF WHICH MAY BE BARRED BY STATE GOVERNMENT. SCHEDULE III.—[ Repealed .] THE PROVINCIAL INSOLVENCY ACT, 1920 ACT NO. 5 OF 1920 [25 th February , 1920.] An Act to consolidate and amend the Law relating to Insolvency[1] * as administered by Courts having jurisdiction outside the Presidency-towns[2] *. WHEREAS it is expedient to consolidate and amend the law relating to insolvency[1] * as administered by Courts having jurisdiction outside the Presidency-towns[2] * ; It is hereby enacted as follows:— 1. Short title and extent.— (1) This Act may be called the Provincial Insolvency Act, 1920. (2) It extends to[3] [the whole of India except[4] [the territories which, immediately before the 1st November, 1956, were comprised in Part B States] and] the Scheduled Districts. 2 . Definitions.— (1) In this Act, unless there is anything repugnant in the subject or context,— (a) "creditor" includes a decree-holder, "debt" includes a judgment-debt, and "debtor" includes a judgment-debtor; (b) "District Court" means the principal Civil Court of original jurisdiction in any area outside the local limits for the time being of the Presidency-towns[5] *; (c) "prescribed" means prescribed by rules made under this Act; (d) "property" includes any property over which or the profits of which any person has a disposing power which he may exercise for his own benefit; (e) "secured creditor" means a person holding a mortgage, charge or lien on the property of the debtor or any part thereof as a security for a debt due to him from the debtor; and (f) "transfer of property" includes a transfer of any interest in property and the creation of any charge upon property. (2) Words and expressions used in this Act and defined in the Code of Civil Procedure, 1908, (5 of 1908) and not hereinbefore defined shall have the same meanings as those respectively attributed to them by the said Code. 1. The entry relating to s. 69 was rep. by Act 12 of 1927 , s. 2 and Schedule. SCHEDULE II (See section 81) PROVISIONS OF THE ACT APPLICATION OF WHICH MAY BE BARRED BY STATE GOVERNMENTS |Provisions of the Act||Subject| |---|---|---| |Section||| |26|Award of compensation.|| |28, Sub-section (3).|Reputed property of an insolvent.|| |34|Debts provable under the Act|| |38<br>39|Compositions and schemes of arrangement.|| |40<br>42, sub-sections (1)<br>and (2)<br>45<br>46<br>47<br>48<br>51<br>52<br>53<br>54<br>55<br>61 [except clause (a)<br>of sub-section (1)|Obligation to refuse absolute discharge.<br>Method of proof of debts.<br>Effect of insolvency on antecedent transaction<br>Priority of debts.|| |and sub-section (4)].<br>62<br>63<br>64<br>65<br>66<br>72|Dividends.<br>Management by an allowance to insolvent.<br>Penalty for obtaining of credit by undischarged insolvent.|| SCHEDULE III.—[ Enactments repealed. ] Rep. by the Repealing Act, 1927 (12 of 1927), s. 2 and Schedule. __________