(1) Subject to
section 10A, in the administration of the estate of every deceased person, all
the creditors of such person shall be treated as standing in equal degree, and
be paid accordingly out of the assets, whether legal or equitable.
(2) Nothing herein
contained shall prejudice or affect any mortgage, lien, charge, or security
which any person may hold or be entitled to for payment of his debt.
(3) Nothing herein
contained shall affect the provisions of any Act protecting life assurance or
other policies against creditors.
[Section 23 amended: No. 72 of 1984 s. 7.]