141. (1) A bankrupt, from the bankruptcy commencement date, shall-
(a) not act as a director of any company, or directly or indirectly take
part in or be concerned in the promotion, formation or management of a
company;
(b) without the previous sanction of the bankruptcy trustee, be prohibited
from creating any charge on his estate or taking any further debt;
(c) be required to inform his business partners that he is undergoing a
bankruptcy process;
(d) prior to entering into any financial or commercial transaction of such
value as may be prescribed, either individually or jointly, inform all the
parties involved in such transaction that he is undergoing a bankruptcy
process;
(e) without the previous sanction of the Adjudicating Authority, be
incompetent to maintain any legal action or proceedings in relation to the
bankruptcy debts; and
(f) not be permitted to travel overseas without the permission of the
Adjudicating Authority.
(2) Any restriction to which a bankrupt may be subject under this section
shall cease to have effect, if-
(a) the bankruptcy order against him is modified or recalled under section
142; or
(b) he is discharged under section 138.