Withdrawal of superintendence when debts cannot be liquidated within reasonable time.

(1) Where the Court is satisfied that it is impracticable to liquidate within a reasonable time all the debts of an owner who has been made a ward under section 13, or the debts and liabilities due by him, it may, with the previous sanction of the Government, within two years from the date of publication of the notification under section 14, withdraw its superintendence, on a day to be notified, whether during continuance of superintendence, the debts and liabilities are partly liquidated or not liquidated at all. From the date of such withdrawal such owner shall cease to be a ward, and the provisions of section 36 shall not apply to any debts and liabilities which become due after withdrawal of superintendence. (2) In computing the period of limitation applicable to a suit brought or application made against the owner from whose property superintendence has been withdrawn as aforesaid, the time during which the superintendence of the Court continued shall be excluded.