Bankruptcy Act · 2009 Revised Edition · Part V · Voluntary Arrangements
53. Effect of approval
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Where the creditors’ meeting summoned under section 50 has approved the proposed voluntary arrangement, whether with or without modifications, the approved arrangement shall —
take effect as if made by the debtor at the meeting; and
bind every person who had notice of and was entitled to vote at the meeting, whether or not he was present or represented thereat, as if he were a party to the arrangement.
Subject to section 54, the interim order in force in relation to the debtor shall cease to have effect at the end of 28 days from the date the report was made to the court under section 52.
debtor
“debtor” means the individual to whom a debt repayment scheme applies under this Part;
Where proceedings on a bankruptcy application have been stayed by an interim order which ceases to have effect under subsection (2), that application shall, unless the court otherwise orders, be deemed to have been dismissed.
bankruptcy application
“bankruptcy application” means an application to the court for a bankruptcy order;