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No. II.'

6 Geo. IV.

c. 16.

Bankrupt not entitled to Certificate or Allowance, and Certificate obtained void,

if he has lost 201. in One

Day, or 2001. within Twelve

Months; or 2001. by Stockjobbing; or destroyed Books, &c.; or made frau

dulent En

CXXX. And be it enacted, That no bankrupt shall be entitled to his certificate, or to be paid any such allowance, and that any certificate, i obtained, shall be void, if such bankrupt shall have lost, by any sort gaming or wagering, in one day twenty pounds, or within one year next preceding his bankruptcy two hundred pounds; or if he shall, within one year next preceding his bankruptcy, have lost two hundred pounds by any contract for the purchase or sale of any government or other stock where such contract was not to be performed within one week after the contract, or where the stock bought or sold was not actually trans ferred or delivered in pursuance of such contract; or shall, after an ac of bankruptcy committed or in contemplation of bankruptcy, have destroyed, altered, mutilated, or falsified, or caused to be destroyed, altered, mutilated, er falsified, any of his books, papers, writings, or securities, or made or been privy to the making of any false or fraudulent entries in any book of account or other document, with intent to defraud his creditors, or shall have concealed property to the value of ten pounds or upwards; or if any person having proved a false debt under the commission, such bankrupt being privy thereto, or afterwards knowing the same, shall not have disclosed the same to his assignees within one month after such knowledge.

tries; or concealed Property to the Value of 101.; or permitted fictitious Debts to be proved. Bankrupt not CXXXI. And be it enacted, That no bankrupt, after his certificate liable upon shall have been allowed under any present or future commission, shall any Promise be liable to pay or satisfy any debt claim or demand, from which be to pay Debt shall have been discharged by virtue of such certificate, or any part of such debt claim or demand, upon any contract promise or agreement made or to be made after the suing out of the commission, unless such Promise be in promise contract or agreement be made in writing, signed by the bank Writing. rupt, or by some person thereto lawfully authorized in writing by such bankrupt.

discharged by Certificate, unless such

Assignees, in
case of Sur-
plus, shall
account and
pay it to the
Bankrupt.

In case of a
Surplus all
Debts to carry

Interest.

Nine-Tenths in Number

CXXXII. And be it enacted, That the assignees shall, upon request made to them by the bankrupt, declare to him how they have disposed of his real and personal estate, and pay the surplus, if any, to such bankrupt, his executors, administrators, or assigns; and every such bankrupt, after the creditors who have proved under the commission shall have been paid, shall be entitled to recover the remainder of the debts due to him: but the assignees shall not pay such surplus until all creditors who have proved under the commission shall have received interest upon their debts, to be calculated and paid at the rate and in the order following (that is to say), all creditors whose debts are now by law entitled to carr interest, in the event of a surplus, shall first receive interest on such debts at the rate of interest reserved or by law payable thereon, to be calculated from the date of the commission, and after such interest shall have been paid, all other creditors who have proved under the commission shall re ceive interest on their debts from the date of the commission, at the rate of four pounds per centum.

CXXXIII. And be it enacted, That at any meeting of creditors after the bankrupt shall have passed his last examination (whereof and of the and Value of purport of which twenty-one days' notice shall have been given in the Creditors may London Gazette), if the bankrupt or his friends shall make an offer accept a Com- of composition, or security for such composition, which nine-tenths position which in number and value of the creditors assembled at such meeting shall agree to accept, another meeting for the purpose of deciding upon such offer shall be appointed, whereof such notice as aforesaid shall be given; and if at such second meeting nine-tenths in number and value of the creditors then present shall also agree to accept such offer, the Lord Chancellor shall and may, upon such acceptance being testified by them in writing, supersede the said commission."

shall bind the rest.

Mode of voting in deciding upon such Composition.

CXXXIV. And be it enacted, That in deciding upon such offer as

aforesaid, any creditor whose debt is below twenty pounds shall not be reckoned in number, but the debt due to such creditor shall be computed in value; and that any creditor to the amount of fifty pounds and upwards, residing out of England, shall be personally served with a

(py of the notice of the meeting to decide upon such offer as aforesaid, d of the purpose for which the same is called, so long before such meeting that he may have time to vote thereat; and such creditor shall be titled to vote by letter of attorney, executed and attested in manner reby required for such creditors voting in the choice of assignees; and any creditor shall agree to accept any gratuity or higher composition fr assenting to such offer, he shall forfeit the debt due to him, together 2th such gratuity or composition; and the bankrupt shall (if thereto quired) make oath before the Commissioners that there has been such transaction between him or any person with his privity, and any the creditors, and that he has not used any undue means or influence bth any of them to attain such assent as aforesaid.

No. II.

6 Geo. IV.

c. 16.

Commissions declared valid.

CXXXV. And be it enacted, That this Act shall be construed benefi- Construction lly for creditors, and that nothing herein contained shall alter the pre- of the Act. at practice in bankruptcy, except where any such alteration is expressly declared, and that it shali extend to aliens denizens and women, both to ake them subject: thereto, and to entitle them to all the benefits given ereby; and that all powers hereby given to, or duties directed to performed by the Lord Chancellor, shall and may be exercised or rformed by a Lord Keeper or Lords Commissioners of the Great Seal; d all powers given to or duties directed to be performed by the Comssioners or assignees, may be exercised and shall be performed respecely by the major part of the Commissioners, or by one assignee, where ly one shall have been chosen; and that nothing herein contained shall Subsisting ader invalid any commission of bankruptcy now subsisting, or which all be subsisting at the time this Act shall take effect, or any proceeds which may have been had thereunder, or affect or lessen any right, um, demand, or remedy which any person now has thereunder, or upon against any bankrupt against whom any commission has or shall have ued, except as herein specifically enacted; and that this Act shall not tend either to Scotland or Ireland, except where the same are expressly entioned. CXXXVI. And be it enacted, That this Act shall not take effect before e first day of September one thousand eight hundred and twenty-five; Commenceve and except that the repeal of the Act passed in the fifth year of the ment of Act. ign of His present Majesty, hereby repealed, and all enactments herein ntained relating to certificates of conformity, shall take effect upon the ssing of this Act.

Act not to extend to

Scotland'or

Ireland.

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Sect.

ANALYSIS

OF

THE NEW ACT, 6 GEO. IV. c. 16. RELATING TO BANKRUPTS.

ANALYSIS.

The Parts printed in Italics are new.

1. All former statutes repealed. 2. Description of persons liable as traders to the bankrupt laws..

3. Acts of bankruptcy-departing the realm-remaining abroad-departing from dwelling house-absenting-beginning to keep house-fraudulent arrest-yielding to prison-fraudulent outlawry-arrest-attachment or execution-fraudulent deed executed abroad or at home-fraudulent surrender of copyhold-fraudulent gift, delivery, or transfer of goods or chattels.

4. Conveyance of trader's property not an act of bankruptcy, unless a commission issue within six months.

5. Acts of bankruptcy-lying in prison for twenty-one days-escaping out of prison. 6. Ditto-Declaration of insolvency filed at the bankrupt office.

7. Concerted declaration not to invalidate commission issued thereon.

8. Act of bankruptcy-compounding with the petitioning creditor.

9.

10.

11..

}

As to traders having privilege of
Parliament.

12. Issuing commission.

13. Striking docket.

14. Petitioning creditor to prosecute commission at his costs, taxed, &c.

15. Petitioning creditor's debt-sufficient though not yet payable-even though no security.

16. Joint commissions against partners in a firm.

17. Proceedings in a second or other commission may be stayed.

18. If petitioning creditor's debt is found insufficient, the Lord Chancellor may, on the petition of other creditors, order the commission to be proceeded in.

19. Commission valid notwithstanding act of bankruptcy prior to the petitioning creditor's debt.

20. Power to Lord Chancellor to issue auxiliary commissions.

21. Commissioner's oath.

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48. As to clerks and servants. 49. As to apprentices. 50. Mutual debts. 51. Debts not payable. 52. Proof by sureties. 53. Proof on policies, &c. 54. by annuity creditor. 55. Sureties for annuities, how to proce

56. Contingent debts.

57. Interest on promissory notes, &c. 58. Costs not taxed proveable. 59. Creditor's election.

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82. Protection to all payments by and to
inkrupts without notice.

83. What shall be constructive notice.
84. Protection to delivery of goods with-
ut notice.

85. What shall be notice to bodies cor-
>rate.

86. No purchase impeached, unless commis-
on sued out within twelve months.
87. Titles to property sold under commis-
on not impeached after twelve months.
88. Assignees may submit to arbitration,
ompound, &c. Meetings of creditors.
89. Assignees of partners may use names
f other partner in suits.

90. In actions no proof of requisites to
upport commission necessary, unless no-
ice given.

91. Ditto, in suits of equity.

92. Depositions conclusive in actions or
uits for debts due to the bankrupt's estate,
nless he dispute the commission.

93. Proviso for debtor to the estate paying
oney into court before the time for the bank-
upt disputing the commission is over.

94. If commission afterwards superseded,
lebtor discharged from claims of the bank-
upt.

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99. Punishment of perjury.

100. Application of forfeitures.
101. Books to be kept by, and power to
summon assignees.

102. Creditors to direct where money
collected to be paid in.

103. Commissioners to direct money to
be vested in exchequer bills.

104. Penalty of twenty per cent, on as-
signees for not vesting in exchequer bills,
&c.

105. Assignee becoming bankrupt, not
discharged as to his future effects, &c.

106. Audit within six from examination
and not before four months from issuing.

107. Method of making dividends.

108. Creditors having security for their
debts not to receive more than others.
109. Final dividend.

110. Assignees to file upon oath certificates
of unclaimed dividends.

111. No action to be brought for divi-
dends.

112. Felony for not surrendering, con-
cealing, &c.

113. Lord Chancellor may enlarge the
time for bankrupt's surrender.

114. Allowance to bankrupt till last ex-
amination for his maintenance.

115. Bankrupt apprehended to have the
same benefit as if he had voluntarily sur-
rendered.

116.

to deliver up books-at-
tend assignees-allowance for attendance,
&c.

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Abatement. Commission not to abate by Assignee, with consent of creditors may

demise of the crown, s. 26.

Actions and suits not to abate

in consequence of removal of assignees,

s. 67.

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compound or submit disputes to arbitra
tion, s. 88.

without consent may not com
mence suits in equity, s. 88.

may use the names of the othe
partners in actions or suits, s. 89.

to keep a book of account
bankrupt's estate, s. 100.

s. 104.

may be summoned to account,
-liabilities of, detaining, &c, money

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