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Official Assignee to settle list of debtors to the estate

Bankruptcy Act

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—(1) The Official Assignee shall, as soon as possible after a receiving order has been made against a debtor, prepare and file in court a list of persons supposed to be indebted to the debtor, with the amounts in which they are supposed to be so indebted set opposite to their names respectively.(2) Before finally settling the name and amount of the debt of any person on such list the Official Assignee shall give notice in writing to that person, stating that he has placed such person upon the list of debtors to the estate in the amount in the notice specified, and that unless that person on or before a day in such notice specified gives to the Registrar notice in writing of his intention to dispute his indebtedness, he will be deemed to admit that the amount set opposite his name in the list is due and owing by him to the debtor and will be settled on the list accordingly.(3) A person included in the list who does not give notice of his intention to dispute his indebtedness within the time limited in that behalf shall be settled upon that list, and execution may issue against him for the amount set opposite his name in the list in the same way as if judgment had been entered up against him for such amount in favour of the Official Assignee.(4) A certificate by the Registrar that the person named therein has been settled upon such list as a debtor to the estate in the amount in the certificate specified shall be received as proof of the facts therein stated.(5) A person settled upon such list in the manner aforesaid may apply to the court in a summary way for leave to dispute his indebtedness or the amount thereof, and the court may if it thinks fit make such order for determining the question as may seem expedient upon the terms of the persons giving security for costs and either paying into court or giving security for the whole or such part of the alleged debt as under the circumstances may seem reasonable, and may stay all further proceedings.

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