Form and conditions of deed of arrangemeForm and conditions of deed of arrangement.

### Form and conditions of deed of arrangement. 192.—(1.) A deed of arrangement to which this Part applies shall comply with the following conditions:— (a) It shall contain in a first schedule annexed a true and particular account of all the property of which the debtor or any person in trust for him is possessed, or to which he or any such person is entitled legally or equitably in possession, reversion, remainder or expectancy, so far as the debtor can set it forth, except such articles of household furniture, wearing apparel of the debtor and his family, tools or implements of his trade and other like necessaries (not exceeding in the whole the value of Fifty pounds) as the debtor selects, and such other household furniture as a majority of the creditors may by resolution determine; (b) It shall contain in a second schedule annexed the names of the several creditors of the debtor and the several amounts due or supposed to be due to them respectively; and (c) A declaration by the debtor in the prescribed form verifying the contents of the schedules shall be attached to the deed. (2.) The trustee (if any) of such a deed shall be a person registered under Part VIII. of this Act as qualified to act as a trustee. (3.) Notwithstanding anything contained in the next succeeding section, the Court may, after the execution of such a deed, on the application of the trustee (if any) or of any creditor who has assented to the deed, subject to such conditions (if any) as the Court thinks fit to impose, order a stay of proceedings in any action, execution, distress for rent or other legal process, in respect of any debt or liability which would be provable in the bankruptcy if a sequestration order were made against the debtor, and may at any time in its discretion set aside the order. (4.) The order while in force shall have the effect of staying the proceedings pending the registration of the deed and its receiving the assent of the requisite majority in number and value of the creditors within the prescribed time. (5.) The form in the first part of the Third Schedule to this Act may be used for any deed to which this Part applies, and when so used shall be of the same effect as if it were in the form of a deed in the second part of that Schedule.