section 46
Debt payable at a future time
The Insolvency Act, 1955Corporate195588 sections6 chapters
Part III ADMINISTRATION OF PROPERTY
Statutory text
A creditor may prove for a debt not payable when the debtor is adjudged an insolvent as if it were payable presently, and may receive dividends equally with the other creditors, deducting therefrom only a rebate of interest at the rate of six per centum per annum computed from the declaration of a dividend to the time when the debt would have become payable, according to the terms on which it was contracted.
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