Debtors Act · s 22

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s 22Debts incurred by fraud

Where a debtor makes any arrangement or composition with his creditors, he shall remain liable for the unpaid balance of any debt which he incurred or increased by any fraud, or for which before the date of the arrangement or composition he obtained forbearance by any fraud, provided the defrauded creditor has not assented to the arrangement or composition otherwise than by proving his debt and accepting dividends.

Penalty for fraudulently obtaining credit etc.