Amendment status not verified — confirm the current text below against the official source.
Petttion and adjudicatwn.-SubJect to the conditions specified in this Act, If a debtor commits an act of insolvency, an msolvency petitiOn may be presented either by a creditor or by the debtor, and the Court may on such petition make an order (hereinafter called an order of adjudlCation) adjudging him an msolvent. E~;planation.-The presentation of a petition by the debtor shall be deemed an act of Insolvency withm the meaning of this section, and on such petitiOn the Court may make an order of adjudication . . 8. Exe111:ptwn of corpo_r~twn1 etc.1 from insolvency proceed- mgs.-N? msolven~y petition sh~ll .be presented against any corporation or agamst any associatiOn or company registered under any enactment for the time being in force. 19