(1) An application for an order of the court discharging an individual from bankruptcy in a case falling within [section 279(6)] may be made by the bankrupt at any time after the end of the period of 5 years beginning with the [date on which the bankruptcy commences].
(2) On an application under this section the court may—
(a) refuse to discharge the bankrupt from bankruptcy,
(b) make an order discharging him absolutely, or
(c) make an order discharging him subject to such conditions with respect to any income which may subsequently become due to
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