Section 34Part 8 — Provisional and Absolute Orders for Bankruptcy
Effect of order as to staying proceedings to recover debts
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When a provisional or an absolute order has been made against a debtor, no creditor to whom the debtor is indebted, in respect of any debt provable in bankruptcy, shall have any remedy against the property or person of the debtor in respect of such debt, except in manner directed by this Act.
All proceedings to recover any such debt shall, if not already stayed, be stayed upon notice of such order being given in the manner prescribed, but the Court may, on application by any creditor or person interested, allow any proceedings commenced to be continued upon such terms and conditions as it thinks just.
Subsections (1) and (2) shall not affect the power of any secured creditor to realise or otherwise deal with the secured creditor’s security in the same manner as the secured creditor would have been entitled to realise or deal with the same if this section had not been passed.