This section provides for publication of the notice of the adjudication in bankruptcy of a debtor and for the appointment of a public sitting of the court at which the bankrupt must make full disclosure of his property and the creditors may prove their debts and choose and appoint a creditors' assignee if one is necessary. It re-enacts in principle existing law subject to changes recommended by the committee. Provision is being made for one sitting of the court, referred to as a "statutory sitting", to be held within three weeks of the publication in Iris Oifigiúiland one daily newspaper of the notice of adjudication. In accordance with the committee’s recommendation the second sitting is being abolished because it has become a mere formality.
The section also provides for staying publication, which is entirely new. It is not a recommendation of the committee but arises from changes made in section 16. It enacts that the court on adjourning an application to show cause under that section may stay publication of a notice of the adjudication on security being given by the bankrupt and on such other conditions as the court thinks fit. As already mentioned, this is a further attempt to tighten up the procedure whereby a bankrupt is allowed to show cause against the validity of his adjudication.
