Amendment status not verified — confirm the current text below against the official source.
Acts of insolvency.-A debtor commits an act of insol- vency in each of the following cases, namely;- (a) if he makes a transfer of all or substant!ally al~ his property to a third person for the benefit of his creditors generally; (b) if he makes a transfer of his property or of any part thereof with intent to defeat or delay his creditors; (c) if he makes any transfer of his property or of any part thereof, which would, under this or any other enactme~t for the time being in force, be void as fraudulent preference If he were adjudged an insolvent; (d) if, with intent to defeat or delay his creditors- ( i) he departs or remains out of the State, ( 1i) he departs from his dwelling-house or usual place of busmess or otherwise absents h1mself, (ui) he secludes himself so as to deprive his creditors of the means of communicating with him; (e) if any of his property has been sold in executign of the decree of any Court for the payment of money; (f) if he petitions to be adjudged an insolvent under the provisions of this Act; (g) if he gives notice to any of his creditors that he has suspended, or that he is about to suspend, payment of his debts; or 'h) 1f he is imprisoned in execution of the decree of any Court for the payment of money. Explanation.-For the purposes of this section the act of an agent may be the act of the principal. Petition.