Abstract Of An ACT To Ame...
By the preamble of the act it appears, that the several statutes, from the 34th Henry Vill., cap. 4., down to the 3d Geo. IV., cap. 81, being 20 in number, are all repealed. Farmers. graziers, labourers for hire. &., the Receiver-Gc- neral ot Taxes, and subscribers to incorporated and trading companies esiablished by charter, to be exempted from its operations, not being dee:ned traders-Persons departing the realmu, absenting trom dwelling-house, surrendering to prison, procuring fraudulent outlawvry, arest, or attachment, or mak- ing fraudulent deeds, gifts, and transfer, to be deemed an act of bankruptcy; also verbal declaration of insolvency, or escape trom pnson, or petitioning the Insolvent Cort; but in the latter case com- mission not to issue for two months-UDeclaration of insolvency left at bankrupt-office, to be an act of bankruptcy, but commission muls: issue witlnmtwo months,anddocket be struck,tour daysbeforein town, and eight days in country cases. Such declaration having been con- certed between creditor and bankrupt not to invalitate commission- Compounding with petitioning creditor an act of bankruptcy, and creditor so compounding liable to a penalty-Traders havirDg privilege of' Parliament comnmitting acts of bankruptcy, to be pro- ceeded against as other traders-Traders having privilege of Parlis- ment,not compounding with and satisfying creditor within one month after process issues, neglecting to tile an appearance, or dis- obeying ordler of court, &c. &c., to be an act of bankruptcy-The Lioid Chancellor to have power to issue acommission, on petitioning creditor making oath ofdebt, and giving bond to his lordship-Peti- tioning creditor to prosecute commission at his own e 'pense, taxed e~ost6 to be paid bv assignees wben chosen-Amount of debt neces- sary 1001. and uprvard due to one creditor, or 1501. due to two cre- ditors; and a debt not payable at the time, to be a foundation for 5 commission.-Joint commissions may be issued against parmers in a firm-WVhere tWO commissions have been issued, the Chancellor to have power to allow them to proceed separately or conjointiy- Commission not to abate by the death of the King or comnmis- sioners--lMessenger may break premires, and seize on the body and goods of bankrupt-Commissioners to have power to summon persons suspecteel of having concealed bankrupts' pro- perty, and they are subject to apprehension and committal for refusing to disclose-Messenger's warrant to extend to Ireland, but in Scotland it must be endosed before acted upon, by a magis- trate-Personsi disobeying warrants, liable to action-Bankrupts re- fusing to be sworn,&c. to be committed-Bankrupt's wife to besub- ject to examination-Gaolers suffering an escape liable to 5XO1. pe- nalty, and 1001. for refusing prisoner to creditor-Comnmissioners may appoint a provisional assignee-Such assigRee not delivering effccts to the new one, to pay a penalty of 2001.-Interest on bitts of exchange, &c. &c.a provable, and annuity creditorn allowed toprove -Plaintiff recovering execution against bankrupt, entitled to costs- Creditor not proving, restored to his fbrmer right if commission is supersededUhoice of assignees vested in creditors above 101- Chancellor may remove them, but suits not to be thereby abated- Power vested in assignee to sell all real, personal, and contin. gent estates-Assignees retaining morey, to pay 20 per cent. on the amnount-Accounts to be audited within six mounths Final dividend to be made within 18 rnonths, except where action, are perding.-Bankrupts not surrendering their property, or le- fusing to make disclosures, deened guilty of feony, aid subject to transportation for life, and for no less tenMn tharn seven years.-Banlc. rupt apprehended to have the same benefit on confonnityxs though he surrendered-To be ree from arrest duringproceedingsVOfficers detaining hinX to pay ol. a day-person concealing bankrupt's effects incur a penalty of 1001. and double the amiount of property so concealed-...llowances to be male to those who nnake disclosures- Certifcaies *obe signed by four-fifths of creditorsin numbermad value-In certain cases certificate to be allowed by the Lord Chan- cellor, to whom bankrupt may appiy by peiition-Bankrupt -to be allowed ' I pe cent, if his estate pays 1sS. 6 ir the pound 5 r cent. if Ids.; atd uderthat3 per ent.-Those wnh have been bankrupts before, or taken the benefiteof the act, not endtled to allo*aace;^nor persons whohbsvelost-20L in one day, or 2001. in oie yuiawby gemitog-Act to extend.to-aliens and denizens. but not 1Ean~S~sctiand...ACR not to fnke effect untilhhe~ ILt day. of ABSTRACT 0 AN ACT TO AMEND AND COASO- LIDATE THE BANKILTUPT LAWVS.