And be it enacted, That the Lord Chancellor shall have Power, upon Petition made to him in Writing by any Trader who shall have filed a Declaration of Insolvency in manner and form prescribed by the Statute in that Case made and provided relating to Bankrupts, and upon Payment of the like Sum as is payable upon the granting a Fiat upon the Petition of a Creditor, to be carried 'to and applicable to the Purposes of the Account in the Bank of England intituled " The Secretary of Bankrupts Account," to issue a Fiat in Bankruptcy against such Trader, and to authorize the Prosecution thereof in the Court of Bankruptcy in London or in any District Court of Bankruptcy ; and that it shall and may be lawful for such Court so authorized as aforesaid, upon the Application of such Trader, and upon Proof of the Trading and of the filing of such Declaration, or upon the Application of any Creditor or Creditors of such Trader to such Amount as by the said Statute required for a Petitioning Creditor's Debt, and upon Proof of the Matters requisite to support a Fiat issued upon the Petition of a Creditor, to make the Adjudication of Bankruptcy under such Fiat, and all further Proceedings under such Fiat shall be thenceforth prosecuted and carried on in like Manner as if such Fiat had been issued and adjudicated upon on the Petition of a Creditor of the Bankrupt.