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235.—(1) Subject to paragraph (2), where the creditors' meeting summoned under Article 231 approves the proposed voluntary arrangement (with or without modifications) and the debtor is an undischarged bankrupt, the High Court may do one or both of the following, namely—
(a)annul the bankruptcy order by which he was adjudged bankrupt;
(b)give such directions with respect to the conduct of the bankruptcy and the administration of the bankrupt’s estate as it thinks appropriate for facilitating the implementation of the approved voluntary arrangement.
(2) The High Court shall not annul a bankruptcy order under paragraph (1)—
(a)at any time before the expiration of 28 days from the day on which the report of the creditors' meeting was made to the Court under Article 233, or
(b)at any time when an application under Article 236, or an appeal in respect of such an application, is pending or at any time in the period within which such an appeal may be brought.
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