In paragraphs 6, 7(4) and 8(4) of Schedule 4 to the [1947 c. 14.] Exchange Control Act 1947 (under which a bankruptcy petition may be presented with respect to a debt notwithstanding that the permission of the Treasury is required for its payment), for the words " subsection (1) of section four of the [1914 c. 59.] Bankruptcy Act 1914 " there shall be substituted the words " section 120 of the Insolvency Act 1985 ".