(1) The court shall not make an interim order on an application under section 253 unless it is satisfied;

(a) That the debtor intends to make such a proposal as is mentioned in that section;

(b) That on the day of the making of the application the debtor was an undischarged bankrupt or was able to petition for his own bankruptcy;

(c) That no previous application has been made by the debtor for an interim order in the period of 12 months ending with that day; and

(d) that the nominee under the debtor's proposal to his creditors is a person who is for the time being qualified to act as an insolvency practitioner in relation to the debtor, and is willing to act in relation to the proposal.

(2) The court may make an order if it thinks that it would be appropriate to do so for the purpose of facilitating the consideration and implementation of the debtor's proposal.

(3) Where the debtor is an undischarged bankrupt, the interim order may contain provision as to the conduct of the bankruptcy, and the administration of the bankrupt's estate, during the period for which the order is in force.

(4) Subject as follows, the provision contained in an interim order by virtue of subsection (3) may include provision staying proceedings in the bankruptcy or modifying any provisions in this Group of Parts, and any provision of the rules in their application to the debtor's bankruptcy.

(5) An interim order shall not, in relation to a bankrupt, make provision relaxing or removing any of the requirements of provisions in this Group of Parts, or of the rules, unless the court is satisfied that provision is unlikely to result in any significant diminution in, or the value of, the debtor's estate for the purposes of the bankruptcy.

Subject to the following provisions of this Part, an interim order made on application under section 253 ceases to have effect at the end of the period of 14 days beginning with the day after the making of the order.

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