Where execution of a decree has issued against any property of a debtor which is saleable in execution and before the sale thereof notice is given to the Court executing the decree that an insolvency petition by or against the debtor has been admitted, the Court shall, on application, direct the property, if in the possession of the Court, to be delivered to the receiver, but the costs of the suit in which the decree was made and of the execution shall be a first charge on the property so delivered, and the receiver may sell the property or an adequate part thereof for the purpose of satisfying the charge.
Section 52: Duties of Court executing decree as to property taken in execution
The Provincial Insolvency Act, 1920Central Act · Act 5 of 1920
Where this provision sits
| Act | The Provincial Insolvency Act, 1920 |
|---|---|
| Section | 52 |
| Marginal note | Duties of Court executing decree as to property taken in execution |
| Jurisdiction | Central |
| Status | In force as published by the source |
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