Section 10

A debtor's petition shall allege that the debtor is unable to pay his debts and the presentation thereof is deemed an act of bankruptcy without the previous filing by the debtor of any declaration of inability to pay his debts and the Court shall thereupon make a receiving order:

Provided that it shall be lawful for the Court in its discretion to refuse the order if it is not satisfied that assets for division among the unsecured creditors after payment of all costs, charges and expenses, and the debts which are preferential under this Act, will be sufficient to pay a dividend of 15 per cent, or if the Court considers for other sufficient cause that no order ought to be made.

In this subsection, "sufficient cause" is deemed to include, among other things, the non-attendance of the debtor or, in the case of a firm, of at least one of the partners thereof, on the hearing of the petition, the absence of any material book of account or any fraud or misconduct not amounting to a fraud by the debtor in relation to his affairs.

A debtor's petition shall not after presentation be withdrawn without the leave of the Court.