Bare ActsThe INSOLVENCY ACT, 1955

Section 2

Definitions

Amendment status not verified — confirm the current text below against the official source.

Definitions.—(1) In this Act, unless the context otherwise requires, (a) “Collector” means the Chief Officer in charge of the revenue administration of the district and includes an acting or officiating Collector and also any officer appointed by the Government to exercise the functions of the Collector; (b) “creditor” includes a decree-holder, “debt” includes a judgment-debt, and “debtor” includes a judgment-debtor; (c) “District Court” means the principal Civil Court of original jurisdiction; (d) “prescribed” means prescribed by rules made under this Act; (e) “property” includes any property over which or the profits of which any person has a disposing power which he may exercise for his own benefit; (f) “secured creditor” means a person holding a mortgage, charge or lien on the property of the debtor or any part thereof as a security for a debt due to him from the debtor; (g) 4[“State” means the State of Kerala;] * Received the assent of the President and published in the Gazette No. 8 dated 21st February, 1956. 1.Omitted by Act 18 of 1957 (w.e.f. 01.01.1958). 2.Substituted by Act 18 of 1957 (w.e.f. 01.01.1958).

Section 2 – The INSOLVENCY ACT, 1955 | DailyLaw.ai