Application of Part.Application of Part.

### Application of Part. 4 & 5 Geo. V., c. 47, s. 1. Vic., s. 25. 190.—(1.) This Part shall apply to every deed of arrangement as defined in this section, except that it shall not apply to a composition or scheme of arrangement under Division 5 of Part IV. of this Act or to a composition or scheme of arrangement or to a deed of assignment under Part XI. of this Act. (2.) A deed of arrangement to which this Part applies shall include any instrument of the classes mentioned in the next succeeding subsection whether under seal or not— (a) made by, for or in respect of the affairs of a debtor for the benefit of his creditors generally; (b) made by, for or in respect of the affairs of a debtor who was insolvent at the time of the execution of the instrument for the benefit of any three or more of his creditors. (3.) The classes of instrument referred to in the last preceding sub-section are— (a) an assignment of property; (b) a deed of or agreement for a composition; and, in cases where creditors of a debtor obtain any control over his property or business— (c) a deed of inspectorship entered into for the purpose of carrying on or winding up a business; (d) a letter of licence authorizing the debtor or any other person to manage, carry on, realize, or dispose of a business, with a view to the payment of debts; and (e) any agreement or instrument entered into for the purpose of carrying on or winding up the debtor’s business, or authorizing the debtor or any other person to manage, carry on, realize, or dispose of the debtor’s business, with a view to the payment of his debts. (4.) For the purpose of determining the number of creditors for whose benefit a deed is made, any two or more joint creditors shall be treated as a single creditor.