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[A SWALLOW MAKES NOT SUMMER OR SPRING-TIME.] 1543. Public Examination. Before any resolution or composition is approved by creditors, a public examination of the bankrupt, on oath, must be held by the Court, at which the Receiver must be present. 1544. Composition or Scheme of Arrangement. The creditors may at their first meeting or any adjournment thereof, by special resolution, entertain a composition or scheme of arrangement, and if the same be accepted by the creditors, application must be made to the Court to approve it, the Official Receiver reporting as to the terms of the composition or arrangement, which the Court will approve or reject according to the circumstances. 1545. Default in Payment of Instalments. Default in payment of instalments, in composition or scheme, renders the debtor liable to be adjudged bankrupt on application by any creditor to the Court. 1546. Adjudication of Bankruptcy when a Composition is not Accepted. If after a receiving order has been made the creditors resolve that the debtor be adjudged bankrupt, or pass no resolution, or do not meet, or if a composition or scheme is not accepted and approved within fourteen days after the debtor's public examination, the Court will adjudge the debtor bankrupt, and his property shall become divisible among his creditors, and shall vest in a Trustee. Notice of such adjudication must be advertised in the London Gazette and locally. 1547. Appointment of Trustee. The creditors of a bankrupt may, by resolution, appoint a Trustee of the debtor's property. If this has not been done prior to adjudication, the Official Receiver shall call a creditors' meeting for that purpose. The creditors may resolve to leave the appointment to the committee of inspection. The person appointed shall give security to the Board of Trade, which shall, if it sees fit, certify the appointment. If no Trustee is appointed by the creditors, the Board may appoint one.