Any creditor who has not proved his debt before the declaration of any dividend or dividends shall be entitled to be paid, out of debt any money for the time being in the hands of the receiver, any of dividend or dividends which he may have failed to receive before at money is applied to the payment of any future dividend or dividends; but he shall not be entitled to disturb the distribution of any dividend declared before his debt was proved by reason that he as not participated therein.
Section 63: Right of creditor who has not proved debt before declaration of a dividend
The Provincial Insolvency Act, 1920Central Act · Act 5 of 1920
Where this provision sits
| Act | The Provincial Insolvency Act, 1920 |
|---|---|
| Section | 63 |
| Marginal note | Right of creditor who has not proved debt before declaration of a dividend |
| Jurisdiction | Central |
| Status | In force as published by the source |
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