(1)The following shall be substituted for section 279 of the Insolvency Act 1986 (c. 45) (duration of bankruptcy)—
(1)A bankrupt is discharged from bankruptcy at the end of the period of one year beginning with the date on which the bankruptcy commences.
(2)If before the end of that period the official receiver files with the court a notice stating that investigation of the conduct and affairs of the bankrupt under section 289 is unnecessary or concluded, the bankrupt is discharged when the notice is filed.
(3)On the application of the official receiver or the trustee of a bankrupt’s estate, the court may order that the period specified in subsection (1) shall cease to run until—
(a)the end of a specified period, or
(b)the fulfilment of a specified condition.
(4)The court may make an order under subsection (3) only if satisfied that the bankrupt has failed or is failing to comply with an obligation under this Part.
(5)In subsection (3)(b) “condition” includes a condition requiring that the court be satisfied of something.
(6)In the case of an individual who is adjudged bankrupt on a petition under section 264(1)(d)—
(a)subsections (1) to (5) shall not apply, and
(b)the bankrupt is discharged from bankruptcy by an order of the court under section 280.
(7)This section is without prejudice to any power of the court to annul a bankruptcy order.”
(2)Schedule 19 (which makes transitional provision in relation to this section)—
(a)shall have effect, and
(b)is without prejudice to the generality of section 276.