4(1)Section 5 (sequestration of the estate of living or deceased debtor) is amended as follows.S
(2)In subsection (2A), for “petition” substitute “ application ”.
(3)In subsection (2B)—
(a)in both paragraphs (a) and (b), for “of presentation of the petition” substitute “ the debtor application is made ”; and
(b)in sub-paragraph (ii) of paragraph (c), for the words from “and” to the end of the sub-paragraph substitute “ which is not a protected trust deed by reason of the creditors objecting, or not agreeing, in accordance with regulations under paragraph 5 of Schedule 5 to this Act, to the trust deed, ”.
(4)In subsection (2C), for “(2)(c)” substitute “ (2)(b)(iv) ”.
(5)In subsection (4), after “petition” insert “ or, as the case may be, the date the debtor application is made ”.
(6)In subsection (5), after “petition” insert “ or, as the case may be, the date the debtor application is made ”.
(7)For subsection (6A) substitute—
“(6A)In the case of a debtor application, the debtor shall send a statement of assets and liabilities to the Accountant in Bankruptcy along with the application.”.
(8)After subsection (7), insert—
“(7A)Where, after a debtor application is made but before the sequestration is awarded, the debtor dies, then the application shall fall.”.
(9)After subsection (8), insert—
“(8A)Where, after a debtor application is made but before the sequestration is awarded, a creditor who concurs in the application withdraws or dies, any other creditor who was a qualified creditor at the date the debtor application was made and who remains so qualified may notify the Accountant in Bankruptcy that he concurs in the application in place of the creditor who has withdrawn or died.”.
(10)In subsection (9)(a), for “(6A)(b)” substitute “ (6A) ”.
(11)In subsection (10)(a), for “(6A)(b)” substitute “ (6A) ”.