292Interpretation

292 Interpretation

For the purposes of this chapter an insolvent means a person who has been adjudged bankrupt, or whose affairs are in course of liquidation by arrangement under the law relating to bankruptcy, and who, in either case, has not been granted a discharge; and the insolvency of such a person shall be deemed to commence on the date of the order of adjudication, or of the resolution that his affairs be liquidated by arrangement, as the case may be; and bankruptcy petition includes a petition for liquidation by arrangement.