(1) A bankrupt shall be entitled to an order discharging him from bankruptcy where provision has been made for the payment of the expenses, fees and costs of the bankruptcy, and for preferential payments, and -

(a) he has paid one euro in the euro, with such interest as the Court may allow, or

(b) he has obtained the consent in writing of all of his creditors, whose debts have been proved and admitted in the bankruptcy, or

(c) section 41 (discharge of adjudication order) applies.

(2) The giving of consent by a creditor under subsection (1) constitutes a waiver by that creditor of the right to recover the amount concerned proved and admitted in the bankruptcy.