If the court is satisfied, on receiving the nominee's report1, that the debtor's creditors should consider the debtor's proposal, the court must direct that the period for which the interim order has effect2 is to be extended, for such further period as it may specify in the direction3, for the purpose of enabling the debtor's proposal to be considered by his creditors in accordance with the statutory provisions4. The court may, however, discharge the interim order if it is satisfied, on the application of the nominee, that the debtor has failed to comply with his obligation to submit to
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