Bankruptcy Act 1705
The Bankruptcy Act 1705 (4 & 5 Ann. c. 4) was an Act of Parliament of England. Content Under the Act, the Lord Chancellor was given power to discharge bankrupts, once disclosure of all assets and various procedures had been fulfilled. Discharge from debt was introduced for those who cooperated with creditors. The discharge took effect once a bankrupt obtained a certificate of the bankruptcy commissioners providing that there has been full disclosure and adherence to their directions. See also UK insolvency law UK bankruptcy law History of bankruptcy law Notes Insolvency law of the United Kingdom English laws Acts of the Parliament of England 1705 in law 1700s in British law 1705 in England