Section 54(2) in The Provincial Insolvency Act, 1920
(2)This section shall not affect the rights of any person who in good faith and for valuable consideration has acquired a title through or under a creditor of the insolvent.[54-A. By whom petitions for annulment may be made [Inserted by Act 39 of 1926, Section 3.].A petition for the annulment of any transfer under section 53, or of any transfer, payment, obligation or judicial proceeding under section 54, may be made by the receiver or, with the leave of the Court, by any creditor who has proved his debt and who satisfies the Court that the receiver has been requested and has refused to make such petition.]
