After receiving a bankruptcy application, an adjudicator must determine whether the following requirements are met—
the adjudicator had jurisdiction under section 263I to determine the application on the date the application was made,
the debtor is unable to pay his or her debts at the date of the determination,
no bankruptcy petition is pending in relation to the debtor at the date of the determination, and
no bankruptcy order has been made in respect of any of the debts which are the subject of the application at the date of the determination.
If the adjudicator is satisfied that each of the requirements in subsection (1) are met, the adjudicator must make a bankruptcy order against the debtor.
If the adjudicator is not so satisfied, the adjudicator must refuse to make a bankruptcy order against the debtor.
The adjudicator must make a bankruptcy order against the debtor or refuse to make such an order before the end of the prescribed period ("the determination period").