The Provincial Insolvency (Himachal Pradesh Amendment) Act, 1969

(1) This Act may b: called the Provincial Insolvency (Himachal Pradesh Amendment) Act, 1969. (2) It extends to the whole of Himacbal Pradcsh.

Aficr sub-section (2) of section 60 the Provincial Insolvency Act, 1920(Centra]. Act No, 5 of 1930j, the following new sub-section sball be addad:- '"3) In particular and witho~t pr~jud~cc to thl: grncrality of sub-sic-tioa f2), whcn the vrholr. oisanypa~t olF tl'ic &ate of an i.nsulve~lt consints of land as defincrl in l[the Hirnacha1Prad):sh Tanancy and land Rpforinc, Act, 19721 no S L I C ~ landshall bq: tcmporariIy aliina-tcd by thc r-c sfv~r I but after the 0th). r propcrty of the insulvtnt has B;GI~ ri,aliwd, the court shall proc-i d in thc manncr provi-dcd in sub-s~:ction {I), and th~: Col!cctoi. shall I hereupon proceed to raiw the amount roquircd by means of a tempmary ah-na-ti@% in such form and fop such period as may b: lcgally pcr~-ia.;-siblc. and as he thinks fit ; and shall hold at tlzc disposal of rl~e court all sum9 ;~hicl~ may thcreby con~c to hi:, hrmds : Provided that such portion of th.: land sha!l hl: L ~ i m p ~ c d from alicaa-tion 3s in th3 opinion of tho Collec~or, having r~gard to [ l ~ c incorn,: of the judgml:nt-debtor from all sourc:s :xci.pt such -11-cone as IS d:p,:ndcnt on thc will of cr1zoth.r p:rson, is ,~rffici-:n! to piovidc for th: main1 :nancc of the insolvent and thc m8:mbcrs of i ~ i j faxnily ~ v h o arc dx:nl:ndcnt oil him. and s~~cln portion shall bl: dcemed nor iio form part of E ~ I . estat~: ondcr adn~inistratian,"

7'hl: ?A-~~vinclal 1nsolvc.nzy (lJunjab Anl~-~ld-rns.nt) Act, 1938 (3 of 1939) as Pn fo:a in t h ~ areas add,d to H,machal Pradcsh under scctiotl5 oft hc Pun iab Rc-organisaxion Act, 1966 i.3 1 of 1966) is hmchy ropc-&ld : Pgovi&,.d aftat anything doile or any as:ron takcn uadx the said Act shsH kw &em..d to hzv: been don n: or taken under this Act.