1543. Public Examination
Before any resolution or composition is approved by creditors, a public examination of the bankrupt, on oath, must be held by the Court, at which the Receiver must be present.
1544. Composition or Scheme of Arrangement
The creditors may at their first meeting or any adjournment thereof, by special resolution, entertain a composition or scheme of arrangement, and if the same be accepted by the creditors, application must be made to the Court to approve it, the Official Receiver reporting as to the terms of the composition or arrangement, which the Court will approve or reject according to the circumstances.
1545. Default in Payment of Instalments
Default in payment of instalments, in composition or scheme, renders the debtor liable to be adjudged bankrupt on application by any creditor to the Court.