Commonwealth Consolidated Acts

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Stay of proceedings relating to creditor's petition until meeting of debtor's creditors

  (1)   If:

  (a)   an authority signed by a debtor under section   188 has become effective; and

  (b)   either:

  (i)   a creditor's petition was presented against the debtor before the authority became effective; or

  (ii)   a creditor's petition is presented against the debtor after the authority became effective but before the first or only meeting of the debtor's creditors called under the authority;

proceedings relating to that petition are, by force of this subsection, stayed until:

  (c)   the conclusion of the meeting; or

  (d)   the adjournment of the meeting;

whichever is the earlier.

  (2)   This section does not limit subsection   206(1).

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