BANKRUPTCY ORDINANCE ORDINANCE

BANKRUPTCY ORDINANCE ORDINANCE

CHAPTER 6.
THE BANKRUPTCY ORDINANCE.

ARRANGEMENT OF SECTIONS.
Section page
1- 2 Part I-SHORT TITLE AND INTERPRETATION. 172

Part II-PROCEEDINGS FROM ACT OF
BANKRUPTCY TO DISCHARGE.
3- 4...............Acts of bankruptcy .... ... ... ... ... ... ... ... 173-175
5- 16........................Receiving order and Official Receiver ... ... ... ... 175-181
17- 18....................Proceedings consequent on order ... ... ... ... ... 181
19 Public examination of debtor .......... ... ... ... ... 182
20- 21.........................Compositions and schemes of arrangement ... ... ... 183-186
22- 25..................Adjudication of bankruptcy ... ... ... ... ... ... 187-190
26- 33 Control over person and property of debtor ... ... ... 190-199

Part III-ADMINISTRATION OF PROPERTY.
34- 41.............Proof of debts .. . ... ... ... ... ... ... ... ... 200-205
42- 44.........................Property available for payment of debts ... ... ... 205-206
45~ 52 Effect of bankruptcy on antecedent and other transactions 207-212
53- 66................Realization of property ... ... ... ... ... ... ... 213-221
67- 74................Distribution of property ... ... ... ... ... ... ... 221-224

75- 78 Part IV.-OFFICIAL RECEIVER. 224-226

Part V-TRUSTEES IN BANKRUPTCY.
79 Official name .......................... ... ... ... ... ... 227
SO- 81........Appointment ................. ... ... ... ... ... ... ... 227
82- 84.............Control. over trustee ... ... ... ... ... ... ... ... 228-229
85- 86...............Remuneration and costs ... ... ... ... ... ... ... 229-230
87- 93 Receipts, payments, accounts, audit ... ... ... ... ... 231-233
94- 96 Vacation of office by trustee ... ... ... ... . . --- ... 233-235

Part VL-CONSTITUTION, PROCEDURE, AND
POWERS OF COURT.
97 Jurisdiction ....... . .................... ... ... ... 225
98 Review and appeals ..................... ... ... ... ... 236
99-109........Procedure ............... ...... ... ... ... ... ... 1 236-238

Part VIL-SUPPLEMENTAL PROVISIONS.
110 Disobedience to order of court ... ... ... ... --- ... 238
111-112 Application of Ordinance ... ... ... ... ... ... ... ... 238
113 General rules ......................... ... ... ... ... ... 241
114-115 Fees and remuneration ... ... ... ... ... ... ... ... 241
116-121.....Evidence ................... ... ... ... ... ... ... ... 241-242
122-127.....Miscellaneous ................. ... ... ... ... ... ... ... 243-244
128 Unclaimed funds or dividends .......... ... ... ... ... 244

129-142 Part VIIL-BANKRUPTCY OFFENCES. 245-254





CHAPTER 6.

BANKRUPTCY.

To amend the law relating to bankruptcy.

[1st January, 1(32.]

PARI I

SHORT TITLE AND INTERPRETATION.

1. This Ordinance may be cited as the Bankruptcy
Ordinance.

2. In this Ordinance-
'affidavit' includes statutory declaration, affirmation and
attestation on honour;
'available act of bankruptcy' means any act of bankruptcy
available for a bankruptcy petition at the date of the
presentation of the petition on which the receiving order
is made;
'bailiff' includes any officer charged with the execution of
a writ or other process;
'court' means the Supreme Court sitting in its bankruptcy
jurisdiction ;
'debt provable in bankruptcy' or 'provable debt' includes
any debt or liability by this Ordinance made provable
in bankruptcy;
'goods' includes all chattels personal;
'oath' includes affirmation, declaration and attestation on
honour.
'ordinary resolution' means a resolution decided by a
majority in value of the creditors present, personally or
by proxy, at a meeting of creditors and voting on the
resolution ;
'prescribed' means prescribed by general rules within the
meaning of this Ordinance;
'property' includes money, goods, things in action, land
and every description of property, whether real or
personal and whether situate in this Colony or else-
where, also obligations, easements and every description
of estate, interest and profit, present or future, vested
or contingent, arising out of or incident to property as
above defined;





'resolution' means ordinary resolution;
'secured creditor' means a person holding a mortgage,
charge or lien on the property of the debtor or any part
thereof, as a security for a debt due to him from the
debtor;
'special resolution' means a resolution decided by a
majority in number and three-fourths in value of the
creditors present, personally or by proxy, at a meeting
of creditors and voting on the resolution;
'Registrar' includes the Registrar of the Supreme Court
and any deputy registrar;
'trustee' means the trustee in bankruptcy of a debtor's
estate.

PART II.

PROCEEDINGS FROM ACT OF BANKRUPTCY TO DISCHARGE.

Acts of bankruptcy.

3. (1) A debtor commits an act of bankruptcy in each
of the following cases-
(a)if in this Colony or elsewhere he makes a conveyance
or assignment of his property, to a trustee or trustees
for the benefit of his creditors generally ;
(b)if in this Colony or elsewhere lie makes a fraudulent
conveyance, gift, delivery or transfer of his property
or of any part thereof ;
(c)if in this Colony or elsewhere lie makes any con-
veyance or transfer of his property or any part
thereof, or creates any charge thereon, which would
be void as a fraudulent preference if he were
adjudged bankrupt;
(d)if with intent to defeat or delay his creditors he does
any of the following things, namely, departs out of
the Colony, or being out of the Colony remains out
of the Colony, or departs from his dwelling-house
or usual place of business, or otherwise absents
himself, or begins to keep house, or removes his
property or any part thereof beyond the jurisdiction
of the court
(e)if execution against him has been levied by seizure
of his goods under process in an action, or proceed-
ing in the court, and the goods have been either
sold or held by the bailiff for twenty-one days:





Provided that, where ail interpleader summons has
been taken out in regard to the goods seized, the
time elapsing between the date at which such
summons is taken out and the date at which the
proceedings on such summons are finally disposed
of, settled or abandoned shall not be taken into
account in calculating such period of twenty-one
days;
if he files in the court a declaration of his inability
to pay his debts or presents a bankruptcy petition
against himself;
(g)if a creditor has obtained a final judgment or final
order against him for any amount, and execution
thereon not having been stayed, has served on him
in this Colony or, by leave of the court, elsewhere,
a bankruptcy notice under this Ordinance, and he
does not, within seven days after service of the
notice, in case the service is effected in the Colony,
and in case the service is effected elsewhere, then
within the time limited in that behalf by the order
giving leave to effect the service, either comply with
the requirements of the notice or satisfy the court
that he has a counter-claiin set off or cross demand
which equals or exceeds the amount of the judgment
debt or sum ordered to be paid, and which he could
not set up in the action in which the judgment was
obtained or the proceedings in which the order was
obtained : For the purposes of this paragraph and
of section 4, any person who is for the time being
entitled to enforce a final judgment or final order
shall be deemed to be a creditor who has obtained
a final judgment or final order;
(h)if the debtor gives notice to any of his creditors that
lie has suspended or that he is about to suspend
payment of his debts.

(2) In this Ordinance, 'a debtor', unless the.context
otherwise implies, includes any person, whether a British
subject or not, who at the time when any act of bankruptcy
was done or suffered by him-
(a) was personally present in the Colony; or
(b) ordinarily resided or had a place of residence in
the Colony; or





(c)was carrying on business in the Colony, personally
or by, means of an agent or manager; or
(d)was a member of a firm or partnership which
carried on business in the Colony.

4. A bankruptcy notice under this Ordinance shall be
issued to a judgment creditor, or creditor who has obtained
a final order, by the Registrar on the filing of a request for
that purpose, and shall be in the prescribed form, and shall
require the debtor to pay the judgment debt or sum ordered
to be paid in accordance with the terms of the judgment
or order, or to secure or compound for it to the satisfaction
of tlije creditor or the court, and shall state the consequences
of non-compliance with the notice, and shall be served in
the prescribed nianner: Provided that a bankruptcy
notice-
(a)may specify an agent to act on behalf of the creditor
in respect of any payment or other thirig required
by the notice to be made to, or done to the satisfac-
tion of, the creditor;
(b)shall not be invalidated by reason only that the
sum specified in the notice as the amount due
exceeds the amount actually due, unless the debtor
Within the time allowed for pay ment gives notice to
the creditor that lie disputes the validity of the notice
on the ground of such misstatement; but if the-
debtor does not give such notice, he shall be deemed
to have complied with the bankruptcy notice if
within the time allowed lie takes such steps as would
have constituted a compliance with, the notice had
the actual amount due been correctly specified
therein.

Receiving order and Official Receiver.
5. Subject to the conditions hereinafter specified, if a
debtor commits an act of bankruptcy the court may, on a
bankruptcy petition being presented either by a creditor or
by the debtor, make an order, in this Ordinance called a
receiving order, for the protection of the estate.

6. (1) Subject to the provisions of section 7, a creditor
shall not be entitled to present a bankruptcy petition against
a debtor unless-





(a)the debt owing by the debtor to the petitioning
creditor, or if two or more creditors join in the
petition, the aggregate amount of debts owing to
the several petitioning creffitors, amounts to five
hundred dollars, and
(b)the debt is a liquidated sum, payable either imme-
diately or at some certain future time, and
(c)the act of bankruptcy on which the petition is
grounded has occurred within three months before
the presentation of the petition, and
(d)the debtor is domiciled in the Colony, or within a
year before the date of the presentation of the
petition has ordinarily resided, or had a dwelling-
house or place of business, in the Colony, or has
carried on business in the Colony, personally or by
means of an agent or manager, or is or within the
said period has been a member of a firin or partner-
ship of persons which has carried on business in
the Colony by means of a partner or partners or
an agent or manager.

(2) If the petitioning creditor is a secured creditor, lie
must in his petition either state that he is willing to give
up his security for the benefit of the creditors in the event
of the debtor being adjudged bankrupt, or give an estimate
of the value of his security. In the latter case he may be
admitted as a petitioning creditor to the extent of the balance
of the debt due to him after deducting the value so estimated
in the same manner as if he were an unsecured creditor.

7. (1) The following provisions shall have effect in
the case of a firm carrying on business in the Colony-
(a)a creditor of the firm shall be entitled to present a
bankruptcy petition against the firm, and a receiving
order may be made against the firm in respect of an
act of bankruptcy committed in reference to the
business of the firm by any partner of the firm or by
any person having the control or management of
the business of the firm. An act of bankruptcy
shall be deemed to be committed in reference to the
business of the firm in all cases in which the act
relates to the property or creditors of the firm and
would be an act of bankruptcy by such partner or





person as aforesaid if it related to his property or
creditors
(b)it shall be sufficient that a receiving order against
the firm be made in the firm name, without men-
tioning the names of the partners, and such receiving
order shall affect the joint and separate property of
all the partners ;
(c)the right of a creditor to present a bankruptcy
petition against the firm, and the jurisdiction of the
court to rnake a receiving order or an adjudication
of bankruptcy against the firm, shall not be affected
by the fact, if it is so, that all or any of the partners
of the firm are not British subjects or are not
resident or domiciled in the Colony.

(2) The provisions of this section shall, so far as the
nature of the case will permit, apply to any person carrying
on business in the Colony in a name or style other than his
own name.

8. (1) Immediately on the filing of any petition the
Official Receiver may, in cases where lie has reason to
believe that any offence under this Ordinance or any fraud
has been or is about to be perpetrated, by notice sent by
messenger or by ordinary post, summon the debtor to attend
before him to give such information as lie requires, and
may, either by himself or his agent authorized by him in
writing, enter on any premises occupied by the debtor
between the hours of 8 a.m. and 6 p.m. for the purpose of
inspecting his property, stock in trade and books of account.

(2) It shall be the duty of the debtor to furnish the
Official Receiver with all such information as it is in the
debtor's power to give or to obtain.
(3) If the debtor fails without reasonable cause to attend
on the Official Receiver as aforesaid or to furnish him with
such information as aforesaid, or if the debtor obstructs the
search of the premises or the production of any book or
document required in connexion therewith, or authorizes or
permits any such obstruction, the debtor shall upon summary
conviction be liable to imprisonment for any term not
exceeding six months, and every person who takes any part
in any such obstruction, whether authorized or permitted
by the debtor or not, shall be liable to the like penalty.





9. (1), A creditor's petition shall be verified by affidavit
of the creditor or of some person, on his behalf having know-
ledge of the facts, and shall be served in the same manner
as a writ of summons unless some other manner of service
be prescribed.

(2) At the hearing the court shall require proof of the
debt of the petitioning creditor, of the service of the petixion
and of the act of bankruptcy, or if more than one act of
bankruptcy is alleged in the petition, of sonic one of the
alleged acts of bankruptcy, and if satisfied with the proof,
may make a receiving order in pursuance of the petition.

(3) If tlIc court is not satisfied with the proof of the
petitioning creditor's debt or of the act of bankruptcy or
of the service. of the petition, or is satisfied by the debtor
that lie is able to pay hi's debts, or is not satisfied that the
assets for division among the unsecured creditors, after pay-
ment of all costs, charges and expenses, and the debts which
are preferential under this Ordinance, will be sufficient to
pay a dividend of fifteen Pe7 cent, or considers that for other
sufficient cause no order ought to be made, the court may
dismiss the petition.
(4) When the act of bankruptcy relied on is non-
compliance with a bankruptcy notice to pay, secure or corn-
pound for a judgment debt or sum ordered to be paid, the
court may, if it thinks fit, stay or dismiss the petition on
the ground that an appeal is pending from the judgment
or order.

(5) Where the debtor appears on the peti.tion and denies
that he is indebted to the petitioner, or that he is indebted
to such an amount as would justify the petitioner in present-
ing a petition against him, the court, on such security (if
any) being given as the court may require for payment to
the petitioner of any debt which may be established against
him in due course of law, and of the costs of establishing
the debt, may, instead of dismissing the petition, stay all
proceedings on the petition for such time as may be required
for trial of the question relating to the debt.

(6) Where proceedings are stayed the court may, if by
reason of the delay caused by the stay of proceedings or
for any other cause it thinks just, make a receiving order





on the petition of some other creditor, and shall thereupon
dismiss, on such terms as it thinks just, the petition in which
proceedings have been stayed as aforesaid.

(7) A creditor's petition shall not after presentment be
withdrawn without the leave of the court.

10. (1) A debtor's petition shall allege that the debtor
is unable to pay his debts, and the presentation thereof shall
be deemed an act of bankruptcy without the previous filing
by the debtor of any declaration of inability to pay his debts,
and the court shall thereupon make a receiving order: Pro-
vided that it shall be lawful for the court' in its discretion
to refuse the order if it is not satisfied that the assets for
division among the unsecured creditors after payment of all
costs, charges and expenses, and the debts which are pre-
ferential under this Ordinance, will be sufficient to pay a
dividend of fifteen per cent, or if the court considers for other
sufficient cause that no order ought to be made. In this
subsection 'sufficient cause' shall be deemed to include, i,,zter
alia, the non-attendanc ' e of the debtor, or in the case of a
firm, of at least one of the partners thereof, on the hearing
of the petition, the absence of any material book of account,
or any, fraud or misconduct not amounting to fraud by the
debtor in relation to his affairs, or in the case of a firm or
person carrying on business under a Chinese firm name,
the non-prodiiction of the partnership book or of the receipt
and money-payment chops used in connexion with the
business.

(2) A debtor's petition shall not after presentment be
withdrawn without the leave of the court.

11. On the hearing of any creditor's or debtor's petition
it shall be lawful for the Official Receiver to appear and to
call, examine and cross-examine any witness and, if he so.
thinks fit, to support or oppose the making of a receiving
order.

12. (1) On the making of a receiving order the Official
Receiver shall be thereby constituted receiver of the property
of the debtor, and thereafter, except as directed by this
Ordinance, no creditor to whorn the debtor is indebted in
respect of any debt provable in bankruptcy shall have any





remedy against the property or person of the debtor in
respect of the debt, or shall commence any action or other
legal proceedings, unless with the leave of the court and on
such terms as the court may impose.

(2) This section shall not affect the power of any secured
creditor to realize or otherwise deal with his security.

13. The court may, if it is shown to be necessary for
the protection of the estate, at any time after the presentation
of a bankruptcy petition and before a receiving order is
made, appoint the Official Receiver to be interim receiver of
the property of the debtor or of any part thereof, and direct
him to take immediate possession thereof or of any part
thereof.

14. (1) The court may at any time after the presenta-
tion of a bankruptcy petition either stay any action, execution
or other legal process against the property or person of the
debtor or allow it to continue on such terms as it may think
just.

(2) Where the court makes an order staying any action
or proceeding, or staying proceedings generally, the order
may be served by sending a copy thereof, under the seal of
the court, by post to the address for service of the plaintiff
or other party prosecuting such proceeding or to the address
of his solicitor.

(3) Without prejudice to the provisions of subsection
(i), if the court orders the release of any debtor who is under
execution for a civil debt, it may impose such conditions as
it thinks fit, and in particular it may require as a condition
of such release that the debtor find security to attend in the
subsequent bankruptcy proceedings and to abide by all
orders of the court relating to the said proceedings'.

15. (1) The court may, on the application of the Official
Receiver or of any creditor or creditors, and if satisfied that
the nature of the debtor's estate or busi.ness or the interests
of the creditors generally require the appointment of a
special manager of the estate or business other than the
Official Receiver, appoint a manager thereof accordingly to
act until a trustee is appointed, and with such powers





(including any of the powers of a receiver) as may be
entrusted to him by the Official Receiver.

(2) The special manager shall give security and account
in such manner as the court may direct.

(3) The special manager shall receive such remunera-
tion as may be prescribed.

16. Notice of every receiving order, stating the name,
address and description of the debtor, the date of the order,
and the date of the petition, shall be gazetted by the Official
Receiver.

Proceedings consequent on orcler.

17. (1) As soon as may be after the making of a receiv-
ing order against a debtor a general meeting of his creditors
(in this Ordinance referred to as the first meeting of creditors)
shall be field for the purpose of considering whether a pro-
posal for a composition or scheme of arrangement shall be
accepted, or whether it is expedient that the debtor shall be
adjudged bankrupt, and generally, as to the mode of dealing
with the debtor's property.

(2) The Chief justice may, with the approval of the
Legislative Council make rules with respect to the summon-
ing of and proceedings at the first and other meetings of
creditors.

18. (1) Where a receiving order is made against a
debtor, he shall make out and submit to the Official Receiver
a statement of and in relation to his affairs in the prescribed
form, verified by afridavit, and showing the particulars of
the debtor's assets, debts and liabilities, wherever situate, the
names, residences and occupations of his creditors, whether
in the Colony or elsewhere, the securities held by them
respectively, the dates when the securities were respectively
given, and such further or other ' information as may be
prescribed or as the Official Receiver may require. . Such
statement shall also give details of all property held by him
in a t'ong name or under any alias, or by his wife or any
concubine of his, or by any person in trust for him or them,
with full particulars as to the manner and date of its being
acquired.





(2) The statement shall be so submitted within the fol-
lowing times, namely-
(a)if the order is made on the petition of the debtor,
within three days from the date of the order;
(b)if the order is made on the petition of a creditor,
within seven days from the date of the order,
but the court may, in either case for special reasons, extend
the time.

(3) If the debtor fails without reasonable excuse to com-
ply with the requirements of this section, he may be punished
for a contempt of court and the court may, on the application
of the Official Receiver or of any creditor, adjudge him
bankrupt.

(4) Any person stating himself to be a creditor of the
bankrupt may, on payment of the prescribed fee, personally
or by agent inspect the statement at all reasonable times
and take any copy thereof or extract therefrom, but any
person untruthfully so stating himself to be a creditor shall
be guilty of a contempt of court and shall be punishable
accordingly on the application of the trustee or Official
Receiver.

Public examination of debtor.

19. (1) Where the court makes a receiving order, it
shall, save as in this Ordinance provided, hold a public sit-
ting, on a day to be appointed by the court, for the examina-
tion of the debtor, and the debtor shall attend thereat and
shall be examined as to his conduct, dealings and property.

(2) The examination shall be held as soon as conveni-
ently may be after the expiration of the time for the
submission of the debtor's statement of affairs.

(3) The court may adjourn the examination from time
to time.

(4) Any creditor who has tendered a proof, or his
representative authorized in writing, may question the debtor
concerning his affairs and the causes of his failure.

(5) The Official Receiver shall take part in the examina-
tion of the debtor, and for the purpose thereof, if specially





authorized by the court, may employ a solicitor with or
without counsel. No solicitor or counsel shall be allowed
to take part in the examination on behalf of the debtor.

(6) If a trustee is appoint ed before the conclusion of the
examination, he may take part therein.

(7) The court may, put such questions to the debtor as
it may think expedient.

(8) The debtor shall be examined upon oath and it shall
bc his duty to answer all Such questions as the court may
put or allow to be put to him. Such notes of the examina-
tion as the court thinks proper shall be taken down either
in shorthand or longhand and they or a transcript thereof
shall be read over either to or by the debtor and signed by
hirn and may thereafter, save as in this Ordinance provided,
be used in evidence against him ; they shall also be open to
the inspection of any creditor at all reasonable times upon
payment of the prescribed fee.

(9) When the court is of opinion that the affairs of the
debtor have been sufficiently investigated, it shall by order
declare that his examination is concluded, but such order
shall not be made until after the day appointed for the first
meeting of creditors.

(io) Where the debtor is a lunatic orsu ffers from any
such mental or physical affliction or disability as in the
opinion of the court makes hirn unfit to attend his public
examination, or is absent frorn the Colony, the court may
make an order dispensing with such examination or directing
that the debtor be examined on such terms, in such manner
and at such place as to the court seems expedient.

Composilions and schemes of arrangement.

20. (1) Where a debtor intends to make a proposal for
composition in satisfaction of his debts or a proposal for
scheme of arrangement of lus affairs, he shall, within. four
days of submitting his statement of affairs or within such
time thereafter as the Official Receiver may fix, lodge with
the Official Receiver a proposal in writing, signed by him,
embodying the terms of the composition or scheme which
lie is desirous of submitting for the consideration of his





creditors and setting out particulars of any sureties or
securities proposed.

(2) In such case the Official Receiver shall hold a
meeting of creditors before the public examination of the
debtor is concluded, and send to each creditor before the
meeting a copy of the debtor's proposal with a report
thereon; and if at that meeting a majority in number and
three-fourths in value of all the creditors who have proved
resolve. to accept the proposal, it, shall be deemed to be
duly accepted by the creditors, and when approved by the
court shall be binding on all the creditors.

(3) The debtor may at the meeting amend the terms
of his proposal, if the amendment is in the opinion of the
Official Receiver calculated to benefit the general body of
creditors.

(4) Any creditor who has proved his debt may assent
to or dissent from the proposal by a letter addressed to
the Official Receiver so as to be received by him not later
than the day preceding the meeting, and any such assent
or dissent shall have effect as if the creditor had been pre-
sent and had voted at the meeting.

(5) The debtor or the Official Receiver may, after the
proposal is accepted by the creditors, apply to t ' he court
to approve it, and notice of the time appointed for hearing
the application shall be given to each creditor who has
proved.

(6) The application shall not be heard until after the
conclusion of the public examination of the debtor. Any,
creditor who has proved may be heard by the court in
opposition to the application, notwithstanding that fie may
at a meeting of creditors have voted for the acceptance ol'
the proposal.

(7) For the purpose of approving a composition, or
scheme by joint debtors the court may, if it thinks fit and
on the report of the Official Receiver that it is expedient
so to do, dispense with the public examination of any of
the joint debtors if they are or any one of them is pre-
vented from attending the examination by illness or absence
from the Colony but one at least of such joint debtors
shall be publicly examined.





(8) The court shall before approving the proposal
hear a report of the ' Official Receiver as to the terms
thereof and as to the conduct of the debtor, and any objec-
tions which may be made by or on behalf of any creditor.

(9) If the court is of opinion that the terms of the
proposal are not reasonable or are not calculated to benefit
the general body of creditors, or in any case in which the
court is required, where the debtor is adjudged bankrupt,
to refuse his discharge, the court shall refuse to approve
the proposal.

(10) If any facts are proved on proof of which the court
would be required either to refuse, suspend or attach con-
ditions to the debtor's discharge were he adjudged bank-
rupt, the court shall refuse to approve the proposal unless
it provides reasonable security for the payment of not less
than twenty-five per cent, on all the unsecured debts prov-
able against the debtor's estate.

(11) In any other case the court may either approve
or refuse to approve the proposal.

(12) If the court approves the proposal, the approval
may be testified by the seal of the court being attached
to the instrument containing the terms of the proposed
composition or scheme, or by the terms being embodied
in an order of the court.

(13) A composition or scheme accepted and approved
in pursuance of this section shall be binding on all the
creditors so far as relates to any debts due to them from
the debtor and provable in bankruptcy.

(14) A certificate of the Official Receiver that a com-
position or scheme has been duly accepted and approved
shall, in the absence of fraud, be conclusive as to its
validity.

(15) The provisions of a composition or scheme under
this section may be enforced by the court on application
by any person interested, and any disobedience of an order
of the court made on the application shall be deemed a
contempt of court.

(16) If default is made in payment of any instalment
due in pursuance of the composition or scheme, or if it





appears to the court on satisfactory evidence that the com-
position or scheme cannot, in consequence of legal diffi-
culties or for any sufficient cause, proceed without injustice
or undue delay to the creditors or to the debtor, or that
the approval of the court was obtained by fraud, the court
may, if it thinks fit, on application by the Official Receiver
or the trustee or by any creditor, adjudge the debtor bank-
rupt and annul the composition or scheme, but without
prejudice to the validity of any, sale, disposition or pay-
ment duly made or thing duly done under or in pursuance
of the composition or scheme. Where a debtor is adjudged
bankrupt under this subsection, any debt provable in other
respects, which has been contracted before the adjudication,
shall be provable in the bankruptcy.

(17) If under or in pursuance of a composition or
scheme a trustee is appointed to administer the debtor's
property or manage his business or to distribute the com-
position, section 29 and Part V shall apply as if the trustee
were a trustee in a bankruptcy and as if the terms 'bank-
ruptcy', 'bankrupt' and 'order of adjudication' included
respectively a composition or scheme of arrangement, a
compounding or arranging debtor and an order approving
the composition or scheme.

(18) Part III shall, so far as the nature of the case
and. the terms of the composition or scheme admit, apply
thereto, the same interpretation being given to the words
'trustee', 'bankruptcy', 'bankrupt' and 'order of
adjudication', as in subsection (17).

(19) No composition or scheme shall be approved by
the court which does not provide for the payment in priority
to other debts of all debts directed to be so paid in the
distribution of the property of a bankrupt.

(20) The acceptance by a creditor of a composition or
scheme shall not release any person who under this Ordin-
ance would not be released by an order of discharge if
the debtor had been adjudged bankrupt.

21. Notwithstanding the acceptance and approval of a
composition or scheme, the composition or scheme shall not
be binding on any creditor so far as regards a debt or





liability from which under the provisions of this Ordinance
the debtor would not be released.by an order of discharge
in bankruptcy, unless the creditor assents to the composition
or scheme.

Adjudication of bankruptcy.

22. (1) Where a receiving order is made against a
debtor, then if the creditors at the first meeting or any
adjournment thereof by ordinary resolution resolve that the
debtor be adjudged bankrupt, or' pass no resolution, or if
the creditors do not meet, or if a composition or scheme
is not approved in pursuance of this Ordinance within
fourteen days after the conclusion of the examination of
the debtor or such further time as the court may allow,
the court shall adjudge the debter bankrupt; and thereupon
the propertv of the bankrupt shall become divisible among
fl is creditors and shall vest in a trustee.

(2) Notice of every order adjudging a debtor bankrupt,
stating the name, address and description of the bankrupt,
the date of the adjudication and the name of the trustee,
shall be gazetted and shall be advertised in at least two
local newspapers, one of which shall be Chinese, or as
may be prescribed, and the date of the order shall for the
purposes of this Ordinance be the date of the adjudication.

(3) It shall be sufficient that an adjudication order
against a firm be made in the firm name without men-
tioning the names of the. partners, and such adjudication
order shafl affect the joint and separate property of all the
partners.

23.. (1) Where a debtor is adjudged bankrupt or the
creditors have resolved that he be adjudged bankrupt, the
creditors may by ordinary resolution appoint the Official
Receiver or some other fit person, whether a creditor or
not, to fill the office of trustee of the property of tho. bank-
rupt or they may resolve to leave his appointment to the
committee of inspection hereinafter mentioned. A person
shall be deemed not fit to act as trustee of the property
of a bankrupt where he has been previously removed from
the office of trustee of a bankrupt's property for misconduct
or neglect of duty.





(2) The person appointed shall, unless he is the
Official Receiver, give such security as the court may direct
or as may be prescribed, and the court, if satisfied with
the security, shall certify under the hand of the Registrar
that his appointment has been duly made, unless the
appointment is disapproved by the court on the ground
that it has not been made in good faith by a majority in
value of the creditors voting, or that the person appointed
is riot fit to act as trustee, or that his connexion witia or
relation to the bankrupt or his estate or any particular
creditor makes it difficult for him to act with impartiality
in the interests of the creditors generally.

(3) The appointment of a trustee shall take effect as
from the date of the certificate.

(4) When a debtor is adjudged bankrupt after the first
meeting of creditors has been held and a trustee has not
been appointed prior to the adjudication, the Official
Receiver shall forthwith summon a meetin- of creditors
for the purpose of appointing a trustee. If no trustee is
then appointed by the creditors the court shall on the
application of the Official Receiver appoint the Offical
Receiver or sonic other fit person to be trustee.

24. (1) The creditors qualified to vote may at their
first or any subsequent meeting, by resolution, appoint a
committee of inspection for the purpose of superintending
the administration of the bankrupt's property by the trustee.

(2) The committee of inspection shall consist of not
more than five nor less than three persons, possessing onc
or other of the following qualifications-
(a)that of being a creditor or the holder of a general
proxy or general power of attorney from a creditor :
Provided that no creditor and no holder of a gen-
eral proxy or general power of attorney from a
creditor shall be qualified to act as a member of
the committee of inspection until the creditor has
proved his debt and the proof has been admitted;
or
(b)that of being a person to whom a creditor intends
to give a general proxy or general power of
attorney : Provided that no such person shall be





qualified to act as a mernber of the committee of
inspectiori until he holds such a proxy or power
of attorney, and until the creditor has proved his
debt and the proof has been adinitted.

The committee of inspection shall niect at such
tinies as they shall from time to time appoint, and failing
such appointment, at least once a month, and the trustee
or any member of the con-in-fittee may also call a meeting
of the committee as and when lie thinks necessary.

The committee may act by a majority of their
members resent at a meeting, but shall not act unless a
majority of the committee are resent at the meeting-

(5) Any member of the committee may resign his
office by notice in writing signed by him and delivered
to the trustee.

(6) If a member of the committee becomes bankrupt,
or compounds or arranges with his creditors, or is absent
from five consecutive meetings of the committee, his ollice
shall thereupon become vacant.

(7) Any member of the committee may be removed
by an ordimary resolution at any meeting of creditors of
which seven days' notice has been given stating the object
of the niecting.

(8) On a vacancy occurring in the office of a meniber
of the committee the trustee shall forthwith summon .
inecting of creditors for the purpose ol.' filling the vacancy,
and the meeting may by resolution appoint Another creditor
or other person eligible as above to fill the vacancy.

(9) The continuing members of the committee, provided there be
not less than two such continuig members, may act notwithstanding any vacany in
their body, and where the number of members of the committee of inspection is
for the time being less than five the creditors may increase that number so that
it do not exceed five.

(10) If there be no committee of inspection any act or thing or any direction
or permission by this Ordinance authorized or required to be done or given by the
committee may be done or given by the court on the application of the trustee.





25. (1) Where a debtor is adjudged bankrupt the
creditors may, if they think fit, at any time after the
adjudication, by a majority in number and three-fourths in
value of all the creditors who have proved, resolve to accept
a proposal for a composition in satisfaction of the debts
due to them under the bankruptcy or for. a scheme of
arrangement of the bankrupt's affairs, and thereupon the
same proceedings shall be taken and the same consequences
shall ensue as in the case of a composition or scheme
accepted before adjudication.

(2) If the court approves the composition or scheme
it may make an order annulling the bankruptcy and vesting
the property of the bankrupt in him or in such other person
as the court may appoint, on such terms and subject to
such conditions, if any, as the court may declare.

(3) If default is made in payment of any instalment
due in pursuance of the composition or scheme, or if it
appears to the court that the cbmposition or scheme cannot
proceed without injustice or undue delay, or that the
approval of the court was obtained by fraud, the court
may, if it thinks fit, on application by any person interesied,
adjudge the debtor bankrupt and annul the composition or
scheme, but without prejudice to the validity of any sale,
disposition or payment duly made or thing duly done under
or in pursuance of the composition or scheme. Where a
debtor is adjudged bankrupt under this subsection, all debts,
provable in other respects, which have been contracted
before the date of such adjudication shall be provable in
the bankruptcy.

Control over Person. and Property of debtor.

26. (1) Every debtor against whom a receiving order
is made shall, unless prevented by sickness or other suffi-
cient cause, attend, the first meeting of his creditors, and
shall submit to such examination and give such informa-
tion as the meeting may require.

(2 ) He. shall give such inventory of his property, such
list of his creditors and debtors, and of the debts due to
and from them respectively, submit to such examination
in respect of his property or his creditors, attend such other





meetings of his creditors, wait at such times on the Official
Receiver, special manager or trustee, execute such powers
of attorney, conveyances, deeds and instruments, and
generally do all such acts and things in relation to his
property and the distribution of the proceeds amongst his
creditors, as may be reasonably required by the Official
Receiver, special manager or trustee or may be provided
by this Ordinance, or be prescribed or be directed by the
court by any special order or orders made in reference to
any particular case or made on the occasion of any special
application by the Official Receiver, special manager,
trustee or any creditor or person interested.

(3) He shall, if adjudged bankrupt, aid to the utmost
of his power in the realization of his property and the
distribution of the proceeds among his creditors.

(4) If a debtor wilfully fails to perform the duties
imposed on him by this section or to deliver up possession
of any part of his property, which is divisible amongst his
creditors under this Ordinance and which is for the time
being in his possession or under his control, to the Official
Receiver or to the trustee or to any person authorized by
the court to take possession of it, lie shall, in addition to
any other punishment to which he may be subject, be guilty,
of a contempt of court and may be punished accordingly.

27. (1) The court may, by warrant addressed to any
person or persons named therein, cause a debtor to be
arrested, and any books, papers, money and goods in his
possession or under his control or relating to his affairs
to be seized, and him and them to be safely kept as pres-
cribed until such time as the court may order under the
following circumstances-
(a)if, after a bankruptcy notice has been issued under
this Ordinance or after presentation of a bankruptcy
petition by or against him, it appears to the court
that there is probable cause for believing that he
has absconded, or is about to abscond, with a view
of avoiding payment of the debt in respect of which
the bankruptcy notice was issued, or of avoiding
service of a bankruptcy petition, or of avoidinom
appearance to any such petition, or of avoiding





examination in respect of his affairs, or of other-
wise avoiding, delaying or embarrassing proceed-
ings in bankruptcy against him;
(b)if, after presentation of a bankruptcy petition by
or against him, it appears to the court that there
is probable cause for believing that lie is about
to dispose of or remove his goods with a view to
preventing or delaying possession being taken of
them by the Official Receiver or trustee, ol, that
there is probable ground for believing that lie has
concealed or is about to conceal or destroy any of
his goods or any books, documents or writings
which might be of use to his creditors in the course
of his bankruptcy;
(c)if, after service of a bankruptcy petition on him
or after a receiving order is niade against him, lie
removes any goods in his possession above the
value of fifty dollars without the leave of the Official
Receiver or trustee;
(d)if without good cause shown lie fails to attend any
examination ordered by the court;
(e)if there is probable cause for believing that he has
committed an offence punishable under this Ordin-
ance
Provided that no arrest upon a bankruptcy notice shall be
valid and protected unless the debtor before or at the time of
his arrest is served with such bankruptcy notice.

(2) No payment or composition made or security given
after arrest made under this section shall be exempt from
the provisions of this Ordinance relating to fraudulent
preferences.

28. Where a receiving order is rnade against a debtor
the court, on the application of the Official Receiver or
trustee, may from time to time order that for such time, not
exceeding three months, as the court thinks fit telegrams and
post letters and other postal packets, addressed to the debtor
at an), place or places mentioned in the order for re-direction,
shall be re-directed, sent ol- de!ivered by the agent of the
telegraph organization or the Postmaster General, or the
officers acting under them, to the Official Receiver or the





trustee or otherwise as the court directs, and the same shall
be done accordingly.

29. (1) The court may, on the application of the
Official Receiver or trustee, at any tinle after a receiving
order has been made against a debtor summon before it the
debtor or his wife, or any person known or suspected to have
in his possession any of the estate or effects belonging to
the debtor or supposed to be indebted to the debtor, or any
person whorn the court may deeni capable of giving informa-
tion respecting the debtor, his dealings or property, and the
court may require any such person to produce any documents
in his custody or power relating to the debtor, his dealings
or property.

(2) If any person so summoned, after having been
tendered a reasonable sum, refuses to come before the court
at the time appointed, or refuses to produce any such docti-
ment, having no lawful filipedirnent made known to the
court at the time of its sitting and allowed by it, the court
may, by warrant, cause him to be apprehended and brought
up for examination.

(3) The court may, by itself or by a commissioner
appointed for the Purpose, examine on oath, either by word
of mouth or by written interrogatories, any person so
brought before it concerning the debtor, his dealings or
property.

(4) If any person on examination before the court
admits that lie is indebted to the debtor, the court may, on
the application of the Official Receiver or trustee, order him
to pay to the Official Receiver or trustee, at such time and
in such manner as to the court seems expedient, the amount
admitted or any part thereof, either in full discharge of the
whole amount in question or not, as the court thinks fit, with
or without costs of the examination.

(5) If any person on examination before the court
admits that he has in his possession any property belong-
ing to the debtor, the court may, on the application of the
Official Receiver or trustee, order him to deliver to the
Official Receiver or trustee such property or any part there-
of, at such time and in such manner and on such terms as
to the court may seem just.





(6) The court may, if it thinks fit, order that anY
person who if in the Colony would be liable to be broughl
before it under this section shall be examined in any place
out of the Colony by a commissioner appointed for the
purpose.

(7) lit the case of the death of the debtor or his wife
or of any other witness whose evidence has been duly taken
tinder this Ordinance, the deposition of the person so
deceased purporting to be sealed with the seal of the court,
or a copy thereof purporting to be so scaled, shall in all
legal proceedings be admitted as evidence of the matters
therein deposed to, saving all just exceptions.

30. (1) A bankrupt may at any time after being
adjudged bankrupt apply to the court for an order of dis-
charge, and the court shall appoint a day for hearing the
application, but the application shall not be heard until the
public examination of the bankrupt is concluded. The,
application shall, except when the court in accordance with
rules under this Ordinance otherwise directs, be heard in
open court.

(2) Where the bankrupt does not of his own accord,
within such time as the court may deem reasonable, apply
for his discharge, the court may, of its own motion or or,
the application of the Official Receiver or the trustee or
any creditor who has proved, make an order calling upon
the bankrupt to come up for his discharge on a day to be
fixed by the court, and on due service of the order, if the
bankrupt does not appear on the day fixed thereby, the
court may make such order as it thinks fit, subject to the
provisions of this section, and the debtor shall, in addition
to any other punishment to which he may be subject, be
guilty of a contempt of court and may be punished accord-
ingly.

(3) On the hearing of the application, or on the dav
on which the bankrupt has been ordered to come up for
his discharge or any subsequent day, the court shall take
into consideration a report of the Official Receiver as to
the bankrupt's conduct and affairs (including a report as to
the bankrupt's conduct during the proceedings under his
bankruptcy) and may either grant or refuse an absolute





order of discharge, or suspend the operation of the order
for a specified time, or grant an order of discharge subject
to any conditions with respect to any earnings or income
which may afterwards become due to the bankrupt or with
respect to his after acquired property: Provided that
where the bankrupt has committed any misdemeanor under
this Ordinance or any enactment repealed by this Ordin-
ance, or any other misdemeanor connected with his bank-
ruptcy, or any felony connected with his bankruptcy, or
where in any case any of the facts hereinafter mentioned
are proved the court shall-
(a) refuse the discharge ; or
(b)suspend the discharge for such period is the court
thinks proper; or
(c)suspend. the discharge until a dividend of not less
than fifty per cent has been paid to the creditors;
or
(d)require the bankrupt as a condition of his
discharge to consent to judgment being entered
against him by the Official Receiver or trustee for
any balance or part of any balance of the debts
provable under the bankruptcy which is not
satisfied at the date of the discharge, such balance
or part of any balance of the debts to be paid out
of the future earnings or after acquired property
of the bankrupt in such manner and subject to such
conditions as the court may direct; but execution
shall not be issued on the judgment without leave
of the court, which leave may be given on proof
that the bankrupt has since his discharge acquired
property or income available towards payment of
his debts: Provided that, if at any time after the
expiration of two years from the date of any order
made under this section the bankrupt satisfies the.
court that there is no reasonable probability of his
being in a position to comply with the terms of
such order, the court may modify the terms of the
order or of anv substituted order in such manner
and upon such conditions as it may think fit.
(4) The facts hereinbefore referred to are-
(a)that the bankrupt's assets are not of a value equal
to fifty per cent of his unsecured liabilities, unless
lie satisfies the court that the fact that the assets





are not of a value of fifty per cent of his unsecured
liabilities has arisen from circumstances for which
he cannot justly be field responsible ;
(b)that the bankrupt has omitted to keep such books
of account as are usual and proper in the business
carried on by him and as sufficiently disclose his
business transactions and financial position within
the three years immediately preceding his bank-
ruptcy, or in the case of a firm carrying on
business under a Chinese firm name, that a part-
nership book has not been kept, or that Such books
have not been available for the trustee during the
bankruptcy proceedings, unless they have been
accidentally lost or destroyed, the onus of proof of
such accidental loss or destruction being on the
bankrupt;
(c)that the bankrupt has continued to trade after
knowing himself to be insolvent,
(d)that the bankrupt has contracted any debt provable
in the bankruptcy without having at the time of
contracting it any reasonable or probable ground
of expectation (proof whereof shall lie oil him) of
being able to pay it;
(e)that the bankrupt has failed to account satis-
factorily for any loss of assets or for any deficiency
of assets to meet his liabilities;
that the bankrupt has brought on or contributed to
his bankruptcy by rash and hazardous
Speculations, or by unjustifiable extravagance in
living, or by gambling, or by culpable neglect of
his business affairs;
(g)that the bankrupt has put any of his creditors to
unnecessary expense by a frivolous or vexatious
defence to any action properly brought against
him;
(h)that the bankrupt has brought on or contributed to
his bankruptcy by incurring unjustifiable expense
by bringing a frivolous or vexatious action ;
(i)that the bankrupt has within three months preced-
ing the date of the receiving order, when unable
to pay his debts as they become due, given an
undue preference to any of his creditors;





Wthat the bankrupt has within three months pre-
ceding the date. of the receiving order incurred
liabilities with a view to making his assets equal
to fifty per cent of his unsecured liabilities;
(k)that the bankrupt has on any previous occasion,
whether in this Colony or elsewhere, been adjudged
bankrupt or made a composition or arrangement
with his creditors;
(l) that the bankrupt has been guilty of any fraud or
fraudulent breach of trust.

(5) The court may, on proof to its satisfaction of any
of the facts mentioned in paragraphs (b), (c), (d), (f), (g),
(h), (i) or (l) of subsection (4), summarily sentence the bank-
rupt to imprisonment for one year.

(6) For the purposes of this section, a bankrupt's
assets shall be deemed of a value equal to fifty per cent of
his unsecured liabilities when the court is satisfied that the
property of the bankrupt has realized or is likely to realize,
or with due care in realization might have realized, an
amount equal to fifty per cent of his unsecured liabilites,
and a report by the Official Receiver or the trustee shall be
prima facie evidence of the amount of such liabilities.

(7) For the purposes of this section, the report of the
Official Receiver shall be prima facie evidence of the state-
ments therein contained.

(8) Notice of the appointment by the court of the day
for hearing the application for discharge shall be published
as the court may direct or as may be prescribed and shall
be sent fourteen days at least before the day so appointed
to each creditor who has proved, and the court may hear
the Official Receiver and the trustee and may also hear any
creditor. At the bearing the court may put such questions
to the debtor and receive such evidence as it may think fit.

(9) The powers of suspending and of attaching con-
ditions to a bankrupt's discharge may be exercised
concurrently.

(10) A discharged bankrupt shall, notwithstanding his
discharge, give such assistance as the trustee may require





in the realization and distribution of such of his property
as is vested in the trustee, and if lie fails to do so he shall
be guilty of a contempt of court; and the court may also,
if it thinks fit, revoke his discharge, but Without prejudice
to the validity of any sale, disposition or payment duly
made or thing duly done subsequent to the discharge but
before its revocation.

31. In either of the following cases, that is to say-
(a)in the case of a settlement made before and in con-
sideration of marriage where the settlor is not at
the time of making the settlement able to pay all
his debts without the aid of the property comprised
in the settlement; or
(b)in the case of any covenant or contract made in
consideration of marriage for the future settlement
on or for the settlor's wife or children of any money
or property wherein he had not at the date of his
marriage any estate or interest (not being money
or property of or in right of his wife),
if the settlor is adjudged bankrupt or compounds or
arranges with his creditors and it appears to the court that
such settlement, covenant or contract was made in order to
defeat or delay creditors, or was unjustifiable having regard
to the state of the settlor's affairs at the time when it was
made, the court may refuse or suspend an order of dis-
charge or grant an order subject to conditions or refuse to
approve a composition or arrangement, as the case may be,
in like manner as in cases where the debtor has been guilty
of fraud.

32. (1) An order of discharge shall not release the
bankrupt-
(a)from any debt or a recognizance nor from any debt
with which the bankrupt may be chargeable at tht.
suit of the Crown or of any person for any offence
against a statute relating to any branch of the public
revenue, or at the suit of any public officer on a
bail bond entered into for the appearance of any
person prosecuted for any such offence, and he shall
not be discharged from such excepted debts unless
the Financial Secretary certify in writing his consent
to his being discharged therefrom; or





(b)from any debt or liability incurred by means of any
fraud or fraudulent breach of trust to which he was
a party, or from any debt or liability whereof he
has obtained forbearance by any fraud to which
lie was a party.

(2) An order of discharge shall release the bankrupt
from all other debts provable in bankruptcy.

(3) An order of discharge shall be conclusive evidence
of the bankruptcy and of the validity of the proceedings
therein, and in any proceedings that may be instituted
against a bankrupt who has obtained an order of discharge
in respect of any debt from which he is released by the order,
the bankrupt may plead that the cause of action occurred
before his discharge.

(4) An order of discharge shall not release any person
who at the date of the receiving order was a partner or co-
trustee with the bankrupt or was jointly bound or had made
any joint contract with him, or any person who was surety
or in the nature of a surety for him.

33. (1) Where in the opinion of the court a debtor
ought not to have been adjudged bankrupt, or where the
court is satisfied that the assets for division among the
unsecured creditors after payment of all costs, charges and
expenses and the debts which are preferential under this
Ordinance are not and will not be sufficient to pay a dividend
of fifteen per cent, or where it is proved to the satisfaction
of the court that the debts of the bankrupt are paid in full,
the court may, on the application of any person interested,
by order annul the adjudication.

(2) Where an adjudication is annulled under this section
all sales and dispositions of property and payments duly
made, and all acts theretofore done, by the Official Receiver,
trustee or other person acting under their authority, or by
the court, shall be valid, but the property of the debtor who
was adjudged bankrupt shall vest in such person as the court
may appoint, or in default of any such appointment revert
to the debtor for all his estate or interest therein on such
terms and subject to such conditions, if any, as the court
may declare by order.





(3) Notice of the order annulling an adjudication sliall
be forthwith gazetted and sh'-til be advertised in at lenst two
local newspapers, one of which shall be Chinese, or as may
be prescribed.

(4) For the purposes of this section, any debt disputed
by a debtor shall be considered as paid in full if the debtor
enters into a bond, in such sum and with such sureties as the
court approves, to pay the amount to be recovered in any
proceeding for the recovery of or concerning the debt, with
costs, and any debt due to a creditor who cannot be found
or cannot be identifed shall be considered as paid in full if
paid into court.

PART III.

ADMINISTRATI0N OF

Proof ol debts.

34. (1) Demands in the nature of unliquidated damages
arising otherwise than by reason of a contact, promise or
breach of trust shall not be provable in backruptcy.

(2) A person having notice of any act of bankruptcy
available against the debtor shall not prove under the order
for any debt or liability contracted by the debtor subsequently
to the date of his so having notice.

(3) Save as aforesaid, all debts and liabilities, present
or future, certain or contigent, to which the debtor is subject
at the date of the receiving order, or to which he may become
subject before his discharge by reason of any obligation
incurred before the date of the receiving order, shall be
deemed to be debts provable in bankruptcy.

(4) An estimate shall be made by the trustee of the value,
of any debt or liability provable as aforesaid which by reison
of its being subject to any contingency or contingencies, or
for any other reason, does not bear a certain value.

(5) Any person aggrieved by any estimate made by the
trustee as aforesaid may appeal to the court.

(6) If in the opinion of the court the value of the debt
or liability is incapable of being fairly estimated, the court
may make an order to that effect, and thereupon the debt or





liability shall, for the Pui-poses of this Ordinance, be deemed
to be a debt not provable in bankruptcy.

(7) If in the opinion of the court the value of the debt
or lilability is capable of being fairly estimated, the court
may direct the value to be assessed before the court itself
without the intervention of a jury and may give all necessary
directions for this purpose, and the amount of the value
wlicii assessed shall be deemed to be a debt provable in
bankruptcy.

(8) 'liability' shall, for the purposes of this Ordinance,
include-
(a) any compensation for work or labour done;
(b) any obligation or possibility of an obligation to pay
money or money's worth on the breach of any
express or implied covenant, contract, agreement or
undertaking, whether the breach does or does not
occur, or is or is not likely to occur or capable of
occurring, before the discharge of the debtor;
(c)generally, any express or implied engagement,
agreement or undertaking to pay or capable of result-
ing in the payment of money or money's worth,
whether the payment is, as respects amount, fixed or
unliquidated, as respects time, present or future,
certain or dependent on any one contingency or on
two or more contingencies, or, as to mode of
valuation, capable of being ascertained by fixed rules
or as matter of opinion.

35. Where there have been mutual credits, mutual debts
or other mutual dealings between a debtor against whorn a
receiving order is made under this Ordinance and any other
person proving or claiming to prove a debt under the receiv-
ing order, an account shall be taken of what is due from the
one party to the other in respect of such mutual dealings
and the sum due from the one party shall be set off against
any sum due from the other party, and the balance of the
account, and no more, shall be claimed or paid on either
side respectively ; but a person shall not be entitled under
this section to claim the benefit of any set-off againist the
property of a debtor in any case where he had, at the time of.
giving credit to the debtor, notice of an act of bankruptcy
conirnitted by the debtor and available against him.





36. The Chief justice inay, with the approval of the
Legislative Council, make rules with respect to the mode of
proving debts, the right of proof by secured and other.
creditors, the admission and rejection of proofs, and other
matters.

37. (1) The assets remaining after payment of the
actual expenses incurred in realizing any of the assets of the
debtor shall, subject to any order of the court, first be liable
to the following payments, which shall be made in the fol-
lowing order of priority, namely-
(a)the actual expenses incurred by the Official Receiver
in protecting or attempting to protect the property or
assets of the debtor or any part thereof and any
expenses or outlay incurred by him or by his
authority in carrying on the business of the debtor;
(b)the fees, percentages and charges payable to, or
costs, charges and expenses incurred or authorized
by, the Official Receiver, whether acting as Official
Receiver or trustee;
(c) the remuneration of the special manager, if an and
(d)the taxed costs of the petitioner, so far as the same
may not have been disallowed by the court.

(2) Whenever the court is satisfied that property of a
debtor in respect of whose estate a receiving order has been
made has been preserved for the benefit of the creditors by
means of legal proceedings brought by a creditor against
the debtor without notice of any available act of bankruptcy
committed by the debtor, the court may in its discretion order
the payment of the costs of such legal proceedings or any
part of them (taxed as between party and party) out of the
estate, with the same priority as to payment as is herein
provided in respect of the taxed costs of the petitioner.

38. (1) In the distribution of the property of a bankrupt
there shall be paid in priority to all other debts-
(a)all debts due from the bankrupt to the Crown at the
date of the receiving order ard having become due.
and payable within twelve months next before that
time;
(b)all wages or salary (induding commission, provided
that the amount thereof is fixed or asoertainable at





the date of the receiving order) of any clerk or
servant in respect of services rendered to the bank-
rupt during four months before the date of the
receiving order, not exceeding three hundred
dollars;
(c) all wages of any labourer or workman not exceeding
one hundred dollars, whether payable for time or
for piece work, in respect of services rendered to the
bankrupt during four months before the date of the
receiving order.
(2) The foregoing debts shall rank equally between
theniselves and shall be paid in full unless the property of
the bankrupt is insufficient to meet them, in which case they
shall abate in equal proportions between themselves.

(3) Subject to the provisions contained in section 37
and to the retention of such sums as may be necessary for
the costs of administration or otherwise, the foregoing debts
shall be discharged forthwith so far as the property of the
debtor is sufficient to meet them.

(4) In the event of a landlord or other person distraining
or having distrained on any goods or effects of a bankrupt
within three months next before the date of the receiving
order the debts to which priority is given by this section
shall be a first charge on the goods or effects so distrained
on or the proceeds of the sale thereof : Provided that in
respect of any money paid under any such charge the land-
lord or other person shall have the same rights of priority
as the person to whom such payment is made.

This section shall apply in the case of a deceased
person who dies insolvent as if he were a bankrupt and as
if the date of his death were substituted for the date of the
receiving order.

(6) In the case of partners 1he joint estate shall be
applicable in the first instance in payment of their joint debts
and the separate estate of each partner shall be applicable in
the first instance in payment of his separate debts. If there
is a surplus of the separate estates, it shall be dealt with as
part of the joint estate. If there is a surplus of the joint
estate, it shall be dealt with as part of the respective separate
estates in proportion to the right and interest of each partner
in the joint estate.





(7) Subject to the provisions of this Ordinance, all debts
proved in the bankruptcy shall be paid pari passu.

(8) If there is any surplus after payment of the fore-
going debts, it shall be applied in payment of interest from.
the date of the receiving order at the rate of eight per cent
per annum on all debts proved in the bankruptcy.

59. (1) Where at the time of the presentation of the
bankruptcy petition any person is apprenticed or is an articled'
clerk to the bankrupt, the adjudication of bankruptcy shall,
if either the bankrupt or the apprentice or clerk gives notice
in writing to the trustee to that effect, be a complete discharge
of the indenture of apprenticeship or articles of agreement;
and if any money has been paid by or on behalf of the
apprentice or clerk to the bankrupt as a fee, the trustee may,
on the application of the apprentice or clerk or of some
person on his behalf, pay such sum as the trustee, subject
to all appeal to the court, thinks reasonable, out of the
bankrupt's properly, to or for the use of the apprentice or
clerk, regard being had to the amount paid by him or oil
his behalf and to the time during which he served with the
bankrupt under the indenture or articles before the com-
mencement of the bankruptcy and to the other circumstances
of the case.

(2) it appears expedient to a trustee, lie may, oil
the application of ally apprentice or articled clerk to the
bankrupt or any person acting on behalf of such apprentice
or articled clerk, instead of acting wider the preceding pro-
visions of this section, transfer the indenture of appreiltice-
ship or articles of agreement to sonie other person.

40. The landlord or other person to whom any rent is
due from the bankrupt may, subject to the provisions of the
Distress for Rent Ordinance, at ally time either before or
after the commencement of the bankruptcy, distrain upon
the goods or effects of the bankrupt for the rent due to him
from the bankrupt, with this limitation, that if such distress
for rent be levied after the commencement of the bank-
ruptcy, it shall be available only for six months' rent
accrued due prior to the date of the order of adjudication
and shall not be available for rent payable in respect of ally
period subsequent to the date when the distress was levied,
but the landlord or other person to whom the rent may be
due from the bankrupt may prove under the bankruptcy for
the surplus due for which the distress may not have been
available.

41. (1) Where a married woman has been adjudged
bankrupt, her husband shall not be entitled to claim any
dividend as a creditor in respect of any money or other
estate lent or entrusted by him to her until all claims of
the other creditors of his wife for valuable consideration
in money or money's worth have been satisfied.

(2) Where a debtor has been adjudged bankrupt, any
money or other estate of his wife lent or entrusted by her
to him shall be treated as assets of his estate, and the wife
shall not be entitled to claim any dividend as a creditor
in respect of any such money or other estate until all claims
of the other creditors of the debtor for valuable considera-
tion in money or money's worth have been satisfied.

(3) In this section 'married woman' and 'wife'
include 'concubine.'

Property avallable for payment of debts.

42. The bankruptcy of a debtor, whether it takes place
on the debtor's own petition or upon that of a creditor or
creditors, shall be deemed to have relation back to and to
commence at the time of the act of bankruptcy being corn-
rnitted on which a receiving order is made against him, or if
the bankrupt is proved to have committed more acts of bank-
ruptcy tlian one, to have relation back to and to commence
at the time cif the first of the acts of bankruptcy proved to
have been committed by the bankrupt within three months
next preceding the date of the presentation of the bank-
ruptcy petition, but no bankruptcy petition, receiving order
or adjudication shall be rendered invalid by reason of any
act of bankruptcy anterior to the debt of the petitioning
creditor.

The property of the bankrupt divisible amongst his
creditors, and in this Ordinance referred to as the property
of the bankrupt, shall not comprise the following parti-
culars-





(a)property held by the bankrupt on trust for any
other person ;
(b)the tools (if any) of his trade and the necessary
wearing apparel and bedding of himself and his
family dependent on and residing with him, to a
value, inclusive of tools and apparel and bedding,
not exceeding three hundred dollars in the whole
But it shall comprise the following particulars-
(i) all such property as may belong to or be vested
in the bankrupt at the commencement, of the bank-
ruptcy or may be acquired by or devolve on him
before his discharge;
(ii) the capacity to exercise and to take proceed-
ings for exercising all such powers in or over or in
respect of property as might have been exercised by
the bankrupt for his own benefit at the commence-
ment of his bankruptcy or before his discharge;
(iii) all goods being at the commencement of the
bankruptcy in the possession, order or disposition
of the bankrupt, in his trade or business, by the
consent and permission of the true owner, under
such circumstances that he is the reputed owner
thereof: Provided that things in action other than
debts due or growing due to the bankrupt in the
course of his trade or business shall not be deemed
goods within the meaning of this section-

44. (1) Where a second or subsequent receiving order
is made against a bankrupt, or where an order is rnade for
the administration in bankruptcy of the estate of a deceased
bankrupt, then for the purposes of any proceedings con-
sequent upon any such order the trustee in the last preceding
bankruptcy shall be deemed to be a creditor in respect of
any unsatisfied balance of the debts provable against the
property of the bankrupt in that bankruptcy.
(2) In the event of a second or subsequent receiving
order made against a bankrupt being followed by, an order
adjudging him bankrupt, or in the event of an order being
made for the administration in bankruptcy of the estate of
a deceased bankrupt, any property acquired by him since
he was last adjudged bankrupt, which at the date when the
subsequent petition was presented had not been distributed
amongst the creditors in such last preceding bankruptcy,





shall subject to any disposition thereof made by the Official
Receiver or trustee in that bankruptcy, without knowledge
of the presentation of the subsequent petition, and subject
to the provisions of section 52, vest in the trustee in the
subsequent bankruptcy or administration in bankruptcy as
the case may be.

(3) Where the trustee in any bankruptcy receives notice
of a subsequent petition in bankruptcy against the bankrupt
or after his decease of a petition for the administration of his
estate in bankruptcy, the trustee shall hold any property then
in his possession which has been acquired by the bankrupt
since he was adjudged bankrupt until the subsequent petition
has been disposed of, and if on the subsequent petition an
order of adjudication or an order for the administration of
the estate in bankruptcy is made, he shall transfer all such
property or the proceeds thereof (after deducting his costs
and expenses) to the trustee in the subsequent bankruptcy or
administration in bankruptcy, as the case may be.

Effect of bankruptcy on antecedent and other transactions.

45. (1) Where a creditor has issued execution against
the property of a debtor or has attached any debt due to him,
lie shall not be entitled to retain the benefit of the execution
or attachment against the trustee in bankruptcy of the debtor
unless he has completed the execution or attachment before
the date of the receiving order and before notice of the
presentation of any bankruptcy petition by or against the
debtor, or of the commission of any available act of bank-
ruptcy by the debtor.

(2) For the purposes of this Ordinance, an execution
shall be deemed to be completed-
(a)in the case of movable property in the possession
of the dcbtor or of negotiable instruments or of
money, by receipt or recovery by the judgment
creditor of the full amount of the levy, after due
compliance by the bailiff with Ae provisions' of
section 46;
(b)in the case of movable property to which the debtor
is entitled subject to a lien or right of some person
to the immediate possession thereof, by attachment
by prohibitory order and sale ;





(c)in the case of lands, houses or other immovable
property or any interest therein, either at law or in
equity, by attachment by prohibitory order and due
registration thereof in the appropriate Land Office;
(d)in the case of an attachment of a debt not being a
negotiable instrument, by receipt of the debt;
(e)in the case of shares in any public company or
corporation, by attachment by prohibitory order;
in the case of property in the custody or under the
control of any public officer in his official capacity
or in custodia legis, by attachment by prohibitory
order duly obtained and served; and
(g)in the case of any equitable interest in lands, houses
or other immovable property, by the appointment
of a receiver or manager.

(3) An execution completed as aforesaid is not invalid
by reason only of its being an act of bankruptcy, and a
person who purchases the goods in good faith under a sale
by the bailiff shall in all cases acquire a good title to them
against the trustee in bankruptcy.

46. (1) Where any movable property or negotiable
instruments or money of a debtor are taken in execution, and
before the receipt or recovery by the judgment creditor of the
full amount of the levy, notice is served on the bailiff that a
receiving order has been made against the debtor, the bailiff
shall on request deliver. the movable property, negotiable
instruments or money, or any money received in satisfaction
or part satisfaction of the execution, to the Official Receiver,
but the costs of the execution shall be a first charge on the
property so delivered and the Official Receiver or trusice
may sell the movable property or negotiable instruments, or
an adequate part thereof, or apply the money, for the purpose
of satisfying the charge.

(2) Where, under an execution in respect of a judg-
ment for a sum exceeding one hundred dollars, the property
of a debtor is sold or money is paid in order to avoid sale,
the bailiff shall deduct his costs of the execution from the,
proceeds of sale or the money paid ind pay the balance into
court, and if within fourteen clear days of such sale or
payment as aforesaid a bankruptcy petition is presented by
or against the debtor, the said balance shall remain in court





and if the debtor is adjudged bankrupt the balance shall be
paid out to the trustee in the bankruptcy, who shall be
entitled to retain the same as against the execution creditor,
but otherwise it shall be dealt with as if no bankruptcy
petition had been presented.

47. (1) Any settlement of property, not being a settle-
ment made before and in consideration of marriage, or made
in favour of a purchaser or incumbrancer in good faith and
for valuable consideration, or a settlement made on or for
the wife or children of the settlor of property which has
accrued to the settlor after marriage in right of his wife,
shall, if the settlor becomes bankrupt within two years after
the date of the settlement, be void against the trustee in the
bankruptcy, and shall, if the settlor becomes bankrupt at any
subsequent time within ten years after the date of the settle-
ment, be void against the trustee in the bankruptcy, unless
the parties claiming under the settlement can prove that the
settlor was at the time of making the settlement able to pay
all his debts without the aid of the property comprised in
the settlement and that the interest of the settlor in such
property passed to the trustee of such settlement on the
execution thereof.
(2) Any covenant or contract made by any person
(hereinafter called the settlor) in consideration of his or her
marriage, either for the future payment of money for the
benefit of the settlor's wife or husband or children or for the
future settlement on or for the settlor's wife or husband or
children of property, wherein the settlor had not at the date
of the marriage any estate or interest, whether vested or
contingent, in possession or remainder, and not being money
or property in right of the settlor's wife or husband, shall
if the settlor is adjudged bankrupt and the covenant or
contract has not been executed at the date of the commence-
ment of his bankruptcy, be void against the trustee in the
bankruptcy except so far as it enables the persons entitled
under the covenant or contract to claim for dividend in the
settlor's bankruptcy under or in respect of the covenant or
contract, but any such claim to dividend shall be postponed
until all claims of the other creditors for valuable considera-
tion in money or money's worth have been satisfied.
(3) Any payment of money (not being payment of pre-
miums on a Policy Of life assurance), or any transfer of pro-





perty made by the settlor in pursuance of such a covenant
or contract as aforesaid, shall be void against the trustee in
the settlor's bankruptcy priless the persons to whom the pay-
ment or transfer was made prove-
(a)that the payment or transfer was made more than
two years before the date of the commencement of
the bankruptcy; or
(b)that at the date of the payment or transfer the.
settlor was able to pay all his debts without the aid
of the money so paid or the property so transferred
or
(c)that the payment or transfer was made in pursuance
of a convenant or contract to pay or transfer money
ot property expected to come to the settlor from or
on the death of a particular person named in the
covenant or contract and was made within three
months after the money or property came into the
possession or under the control of the settlor;
but, in the event of any such payment or transfer being
declared void, the persons to whom it was made shall be
entitled to claim for dividend under or in respect of the
covenant or contract in like manner as if it had not been
executed at the commencement of the bankruptcy.

(4) 'settlement' shall, for the purposes of this section,
include any conveyance or transfer of property.

48. (1) Where a Person engaged in any trade or
business makes an assignment to any other person of his
existing or future book debts or any class thereof and is
subsequently adjudicated bankrupt, the assignment shall
be void against the trustee as regards any book debts which
have not been paid at the commencement of the bankruptcy,
unless the Assignment has been registered with the Registrar
in a register to be kept by him for that purpose : Provided
that nothing in this section shall have effect so as to render
void any assignment of book debts due at the date of
the assignment from specified debtors, or of debts growing
due under specified contracts, or any assignment of book
debts included in a transfer of a business made bona fide and
for value, or in any assignment of assets for the benefit of
creditors generally.





(2) For the- purposes of this section, 'assignment'
includes assignment by way of security and other charges
on book debts.

49. (1) Every conveyance or transfer of property, or
charge thereon made, every payment made, every obliga-
tion incurred and every judicial proceeding taken or
suffered by any person unable to pay his debts as they
become due from his own money in favour of any creditor
or of any person in trust for any creditor, with a view
to giving such creditor, or any surety or guarantor for the
debt due to such creditor, a preference over the other
creditors, shall, if the person making, taking, paying or
suffering the same is adjudged bankrupt on a bankruptcy
petition presented within three months after the date of
making, taking, paving or suffering the same, be deemed
fraudulent and void as against the trustee in the bankruptcy.

(2) This section shall not affect the rights of any
person making title in good faith and for valuable con-
sideration through or under a creditor of the bankrupt.

50. (1) Subject to the provisions of this Ordinance
with respect to the effect of bankruptcy on an execution
or attachment and with respect to the avoidance of certain
settlements, assignments and preferences, nothing in this
Ordinance shall invalidate, in the case of a bankruptcy
(a)any payment by the bankrupt to any of his creditors ;
(b) any payment or delivery to the bankrupt;
(c) any conveyance or assignment by the bankrupt for
valuable consideration;
(d) any contact, dealing or transaction by or with the
bankrupt for valuable consideration :
Provided that both the following conditions, are complied
with, namely-
(a) that the payment, delivery, conveyance, assign-
ment, contract, dealing or transaction, as the case
may be, takes place before the date of the receiv-
ing order; and
(b)that the person (other than the debtor) to, hy or
with whom the payment, delivery, conveyance,
assignment, contract, dealing or transaction was
made, exucuted or entered into has not at the time





of the payment, delivery, conveyance, assignment,
contract, dealing or transaction notice of any avail-
able act of bankruptcy committed by the bankrupt
before that time.

(2) Where any money or property of a bankrupt has,
on or after the date of the receiving order but before notice
thereof has been gazetted in the prescribed rnanner, been
paid or transferred by a person having possession of it to
some other person, and the payment or transfer is under
the provisions of this Ordinance void as against the trustee
in the bankruptcy, then if the person by whoin the pay-
ment or transfer was made proves that when it was made
lie had not had notice of the receiving order, any right of
recovery which the trustee may have against him in respect
of the money or property shall not be enforced by any
iega) proceedings except where and in so far as the court
is satisfied that it is not reasonably practicable for the trustee
to recover in respect of the money or property or of some
part thereof from the person to whorn it was paid or trans-
ferred.

51. A ayment of money or delivery of property to a
person subsequently adjudged bankrupt or to a person
claiming by assignment from him shall, notwithstanding
anything in this Ordinance, be a good discharge to the
person paying the money or delivering the property if the
payment or delivery is made before the actual date on which
the receiving order is made and without notice of the pre-
sentation of a bankruptcy petition, and is either pursuant
to the ordinary course of business or otherwise bona fide.

52. (1) All transactions by a bankrupt with any person
dealing with him bona fide and for value, in respect of
property, whether leasehold or pure personalty, acquired by
the bankrupt after the adjudication, shall, if completed
before any intervention by the trustee, be valid against the
trustee, and any estate or interest in such property which
by virtue of this Ordinance is vested in the trustee shall
determine and pass in such manner and to such extent as
may be required for giving effect to any such transaction.
For the purposes of this subsection, the receipt of any
money, security or negotiable instrument from or by the





order or direction of a bankrupt by his banker, and any
payment and any delivery of any security or negotiable
instrument made to or by the order or direction of a bank-
rupt by his banker, shall be deemed to be a transaction
by the bankrupt with such banker dealing with him for
value.

(2) Where any individual, company or firm has ascer-
tained that a person liaving a deposit, whether a deposit
ill respect of captal or not, or a credit balance, with such
individual, company or firm is an undischarged bankrupt,
then. it shall be the duty of such individual, company or
firm forthwith to inform the Official Receiver and the trustee
in the bankruptcy of the existence of the deposit or credit
balance, and such individual, company or firm shall not
make any payment out of or in respect of the deposit or
credit balance except under an order of the court or in
accordance with instructions from the Official Receiver or
the trustee in the bankruptcy.

(3) In case of any contravention of the provisions ot
subsection (2) the individual, or the directors and officers
of the company, or the partners and manager of the firm,
as the case may be, shall upon summary conviction be
liable to a fine of one thousand dollars and to imprison-
ment for six months.

Realization of property.

53. (1) The trustee shall as soon as may be take
possession of the deeds, books and documents of the bank-
rupt and all other parts of his property capable of manual
delivery.

(2) The trustee shall, in relation to and for the purpose
of acquiring or retaining possession of the property of the
bankrupt, be in the same position as if he were a receiver
of the property appointed by the court, and the court may
on his application enforce such acquisition or retention
accordingly.

(3) Where any part of the property of the bankrupt
consists of stock, shares in ships, shares, or any other
property transferable in the books of any company, office





or person, the trustee may exercise the right to transfer
the property to the same extent as the bankrupt might have
exercised it if he had not become bankrupt.

(4) Where any part of the property of the bankrupt
consists of things in action, such things shall be deemed
to have been duly assigned to the trustee.

(5) Subject to the provisions of this Ordinance with
respect to property acquired by a bankrupt after adjudica-
tion, any treasurer or other officer, or any banker, attorney,
clerk, servant, comprador, employer or agent, of a bank-
rupt, shall pay and deliver ' to the trustee all money and
securities in his possession or power, which he is not by
law entitled to retain as against the bankrupt or the trustee.
If he does not, he shall be guilty of a contempt of court
and may be punished accordingly on the application of
the trustee.

54. Any person acting under warrant of the court may
seize any part of the property of a bankrupt, or of a debtor
against whom a receiving order has been made, in the
custody or possession of the bankrupt or the debtor or of
any other person, and with a view to such seizure may
break open any house, building or room of the bankrupt
or the debtor where the bankrupt or the debtor is supposed
to be, or any building or receptacle of the bankrupt or the
debtor where any of his property is supposed to be; and
where the court is satisfied that there is reason to believe
that property of a bankrupt, or of a debtor against whom
a receiving order has been made, is concealed in a house
or place 'not belonging to him, the court may if it thinks
fit grant a search warrant to any constable or officer of the
court, who may execute it according to its tenor.

55. Where the bankrupt is possessed of any property
out of the Colony, the trustee shall require him to join
in selling the same for the benefit of the creditors and to
sign all necessary authorities, powers, deeds and documents
for the purpose, and if and so often as the bankrupt refuses
to do so he may be punished for a contempt of court.

56. (1) Where a bankrupt is an officer of the navy,
army or air force, or an officer or clerk or otherwise





employed or engaged in the civil service of the Crown,
or where a bankrupt is in receipt of any pay or pension
from the Government or is entitled to any allowance or
compensation granted by the Government, the trustee shall
receive for distribution among the creditors so much of the
bankrupt's pay, salary, pension, allowance or compensation
as the court, with the consent of the Governor, on the
application of the trustee, may direct.

(2) Where a bankrupt is in receipt of a salary or
income other than as aforesaid, the court, on the applica-
tion of the trustee, may from time to time make such order
as it thinks just for the payment of the salary or income
or of any part thereof to the trustee, to be applied by him
in such manner as the court may direct.

(3) Nothing in this section shall take away or abridge
any power to dismiss a bankrupt or to declare the pay,
pension, allowance, compensation, salary or income of any
bankrupt to be forfeited.

57. Where a married woman who has been adjudged
bankrupt has property the income of which is subject to
a restraint on anticipation, the court shall have power, on
the application of the trustee, to order that, during such
time as the court may order, the whole or some part of
such income be paid to the trustee for distribution amongst
the creditors, and in the exercise of such power the court
shall have regard to the means of subsistence available for
the woman and her children.

58. (1) Until a trustee is appointed the Official
Receiver shali be the trustee for the purposes of this Ordin-
ance, and immediately on a debtor being adjudged bankrupt
the property of the bankrupt shall vest in the trustee.

(2) On the appointment of a trustee the property shall
forthwith pass to and vest in the trustee appointed.

(3) The property of the bankrupt shall pass from
trustee to trustee, including under that term the Official
Receiver when he fills the office of trustee, and shall vest
in the trustee for the time being during his continuance
in office, without any conveyance, assignment or transfer
whatever.

59. (1) Where any part of the property of the bank-
rupt consists of land of any tenure burdened with onerous
covenants, of shares or stock in companies, of unprofitable
contracts, or of any other property that is unsaleable, or
not readily saleable, by reason of its binding the possessor
thereof to the performance of any onerous act or to the
payment of any sum of money, the trustee, notwithstanding
that lie has endeavoured to sell or has taken possession of
the property or exercised any act of ownership in relation
thereto, but subject to the provisions of this section, may,
by writing signed by him, at any time within twelve months
after the first appointment of a trustee or such extended
period as may be allowed by the court, disclaim the pro-
perty : Provided that, where any such property has not
come to the knowledge of the trustee within one month
after such appointment, he may disclaim such property at
any time within twelve months after he has become aware
thereof or such extended period as may be allowed by the
court.

(2) The disclaimer shall operate to determine, as from
the date of disclaimer, the rights, interests and liabilities
of the bankrupt and his property in or in respect of the,
property disclaimed, and shall also discharge the trustec,
from all personal liability in respect of the property dis-
claimed as from the date when the property vested in him,
but shall not, except so far as is necessary for the purpose
of releasing the bankrupt and his property and the trustee
from liability, affect the rights or liabilities of any other
person.

(3) A trustee shall not be entitled to disclaim a lease
without the leave of the court, except in any cases which
may be prescribed by general rules, and the court may,
before or on granting such leave, require such notices to
be given to persons interested, and impose such terms as
a condition of granting leave, and make such orders with
respect to fixtures, tenant's improvements and other matters
arising out of the tenancy, as the court thinks just.

(4) The trustee shall not be entitled to disclaim any
property in pursuance of this section in any case where
an application in writing has been made to the trustee by
any person interested in the property requiring him io





decide whether lie will aisclaim or not and the trustee has
for a period of twenty-eight days after the receipt of the
application, or such extended period as may be allowed by
the court, declined or neglected to give notice whether he
disclaims the property or not; and in the case of a contract,
if the trustee after such application as aforesaid does not
within the said period or extended period disclaim the
contract, he shall be deemed to have adopted it.

(5) The court may, on the application of any person
who is, as against the trustee, entitled to the benefit or
subject to the burden of a contract made with the bankrupt,
make an order rescinding the contract on such terms as to
payrnent by or to either party of damages for the non-
performance of the contract, or otherwise, as to the court
may seem equitable, and any damages payable under the
order to any such person may be proved by him as a
debt under the bankruptcy.

(6) The court may, on application by any person
claiming either to have any interest in any disclaimed pro-
perty or to be under any liability not discharged by this
Ordinance in respect of any disclaimed property, and on
hearing such persons as it thinks fit, make an order for
the vesting of the property in or delivery thereof to any
person entitled thereto, or to whom it may seem just. that
the same should be delivered by way of compensation for
such liability as aforesaid, or a trustee for him, and on
such terms as the court thinks just; and on any such
vesting order being made, the property comprised therein
shall vest accordingly in the person therein named in that
behalf without any conveyance or assignment for the
purpose: Provided that where the property disclaimed is
of a leasehold nature the court shall not make a vesting
order in favour of any person claiming under the bankrupt,
whether as under-lessee or as mortgagee by demise. except
upon the terms of making that person-
(a) subject to the same liabilities and obligations as
the bankrupt was subject to under the lease in
respect of the property at the date when the bank-
ruptcy petition was filed; or





(b) if the court thinks fit, Abject only to the same
liabilities and obligations as if the lease had been
assigned to that person at that date,
and in either event (if the case so requires) subject only
to the same liabilities and obligations as if the lease had
comprised only the property comprised in the vesting
order; and any mortgagee or under-lessee declining to
accept a vesting order upon such terms shall be excluded
from all interest in and security upon the property, and
if there is no person claiming under the bankrupt who is
willing to accept an order upon such terms, the court shall
have power to vest the bankrupt's estate and interest in
the property in any person liable either personally or in
a representative character and either alone or jointly with
the bankrupt to perform the lessee's covenants in the lease,
freed and discharged from all estates, incumbrances and
interests created therein by the bankrupt.

(7) Where on the release, removal, resignation or
death of a trustee in bankruptcy the Official Receiver is
acting as trustee, he may disclaim any property which
might be disclaimed by a trustee under'the foregoing pro-
visions, notwithstanding that the time prescribed by this
section for such disclaimer has expired, but such power of
disclaimer shall be exercisable only within twelve months
after the Official Receiver has become trustee in the circum-
stances aforesaid or has become aware of the existence of
such property, whichever period may last expire.

(8) Any person injured by the operation of a dis-
claimer under this section shall be deemed to be a creditor
of the bankrupt to the extent of the injury and may accord-
ingly prove the same as a debt under the bankruptcy.

60. Subject to the provisions of this Ordinance anef to
any order of the court, the trustee may do all or any of
the following things-

(a)sell all or any part of the property of the bank-
rupt (including the goodwill of the business, if
any, and the book debts due or growing due to
the bankrupt), by public auction or private con-
tract, with power to transfer the whole thereof to
any person or company, or to sell the same in





parcels, and any transfer of a business of a bank-
rupt by the Official Receiver or trustee shall be
deemed to be exempted from the provisions of the
Fraudulent Transfers of Businesses Ordinance;
(b)give receipts for any money received by him, which
receipts shall effectually discharge the person pay-
ing the money from all responsibility in respect of
the application thereof;
(c)prove, rank, claim and draw a dividend in respect
of any debt due to the bankrupt;
(d)exercise any powers the capacity to exercise which
is vested in the trustee under this Ordinance and
execute any powers of attorney, deeds and other
instruments for the purpose of carrying into effect
the provisions of this Ordinance.

61. The trustee may, with the permission of the corn-
mittee of inspection, do all or any of the following things-
(a)carry on the business of the bankrupt so far as
may be necessary for the beneficial winding up of
the same;
(b) bring, institute or defend any action or other legal
proceeding relating to the property of the bankrupt;
(c)employ a solicitor or other agent to take any pro-
ceedings or do any business which may be sanc-
tioned by the committee of inspection,
(d)accept as the consideration for the sale of any
property of the bankrupt a sum of money payable
at a future time subject to such stipulations as to
security and otherwise as the committee think fit;
(e)mortgage or pledge any part of the property of
the bankrupt for the purpose of raising money for
the payment of his debts;
refer any dispute to arbitration, or compromise any
debts, claims and liabilities, whether present or
future, certain or contingent, liquidated or un-
liquidated, subsisting or supposed to subsist
between the bankrupt and any person who may
have incurred any liability to the bankrupt, on the
receipt of such sums, payable at such times and
generally on such terms as may be agreed on;
(g)make such compromise or other arrangement as
may be thought expedient with creditors or persons





claiming to be creditors in respect of any debts
provable under the bankruptcy;
(h)make such compromise or other arrangement as
may be thought expedient with respect to any claim
arising out of or incidental to the property of the
bankrupt, made or capable of being made on the
trustee by any person or by the trustee on any
person ;
(i)divide in its existing form amongst the creditors,
according to its estimated value, any property which
from its peculiar nature or other special circum-
stances cannot be readily or advantageously sold.
The permission given for the purposes of this section shall
not be a general permission to do all or any of the above-
mentioned things but shall only be a permission to do the
particular thing or things for which permission is sought in
the specified case or cases.

62. The trustee, with the permission of the committee
of inspection, may, appoint the bankrupt himself to super-
intend the management of the property of the bankrupt or
of any part thereof, or to carry on the trade (if any) of the
bankrupt for the benefit of his creditors, and in any other
respect to aid in administering the property, in such manner
and on such terms, as the trustee may direct.

63. The trustee may from time to time, with the permis-
sion of the committee of inspection, make such allowance as
lie may think just to the bankrupt out of his property for
the support of the bankrupt and his family, or in considera-
tion of his services if he is engaged in winding up his estate,
but any such allowance may be reduced by the court.

64. Where any goods of a debtor against whom a
receiving order has been made are held by any person by
way of pledge, pawn or other security, it shall be lawful
for the Official Receiver or trustee, after giving notice in
writing of his intention to do so, to inspect the goods, and
where such notice has been given, such person as aforesaid
shall not be entitled to realize his security until he has given
the trustee a reasonable opportunity of inspecting the goods
and of exercising his right of redemption if lie thinks fit to
do so.





65. Where the property of a bankrupt comprises the
copyright in any work or any interest in such copyright and
lie is liable to pay to the author of the work royalties or a
sliare of the profits in respect thereof, the trustee shall not
bc entitled to sell or authorize the sale of any copies of the
work, or to perform or authorize the performance of the
work, except on the terms of paying to the author such sums
by way of rovalty or share of the profits as would have been
payable by the bankrupt, nor shall lie, without the consent
of the author or of the court, be entitled to assign the right
or transfer the interest or to grant any interest in the right by
licence, except upon terms which will secure to the author
payments by way of royalty or share of the profits at a rate
not less than that which the bankrupt was liable to pay.

66. Where the Official Receiver or trustee has seized or
disposed of any goods, chattels, property or other effects
in the possession or on the premises or under the control of
a debtor against whom a receivin- order has been made and
it is thereafter made to appear that the said goods, chattels,
property or other effects were not at the date of the receiving
order the property of the debtor, the Official Receiver or
trustee shall not be personally liable for any loss or damage
arising from such seizure or disposal sustained by any person
claiming such property nor for the costs of any proceedings
taken to establish a claim thereto, unless the court is of
opinion that the Official Receiver or trustee has been guilty
of mala fides or of gross negligence in respect of the same.

Disiribution of property.

67. (1) Subject to the retention of such sums as may
be necessary for the costs of administration, or otherwise,
the trustee shall with all convenient speed declare and dis-
tribute dividends amongst the creditors who have proved
their debts.

(2) The first dividend, if any, shall be declared and dis-
tributed within four months after the conclusion of the first
meeting of creditors, unless the trustee satisfies the court
that there is sufficient reason for postponing the declaration
to a later date.





(3) Subsequent dividends shall, in the absence of
sufficient reason to the contrary, be declared and distributed
at intervals of not more than six months.

(4) Before declaring a dividend, the trustee shall cause
notice of his intention to do so to be gazetted and shall also
send reasonable notice thereof to each creditor mentioned in
the bankrupt's statement who has not proved his debt.

(5) When the trustee has declared a dividend lie shall
cause to be gazetted and shall send to each creditor who has
proved a notice showing the amount of the dividend and
when and how it is payable.

68. (1) Where one partner of a firm is adjudged bank-
rupt, a creditor to whom the bankrupt is indebted jointly
with the other partners of the firm, or.any of them, shall
not receive any dividend out of the separate property of the
bankrupt until all the separate creditors have received the
full amount of their respective debts.

(2) Where joint and separate properties are being
administered, dividends of the joint and separate properties
shall, unless otherwise directed by the court on the applica-
tion of any person interested, be declared together and the
expenses of and incidental to such dividends shall be fairly
apportioned by the trustee between the joint and separate'
properties, regard being had to the work done for and the
benefit received by each property.

69. (1) In the calculation and distrib ution of a dividend
the trustee shall make provision for debts provable in bank-
ruptcy appearing from the bankrupt's statements, or other-
wise, to be due to persons resident in places so distant from
the Colony that in the ordinary course of communication
they have not had sufficient tirne to tender their proofs or
to establish them if disputed, and also for debts provable
in bankruptcy the subject of claims not yet determined.

(2) He shall also make provision for any disputed
proofs or claims, and for the expenses necessary for the
administration of the estate or otherwise.

(3) Subject to the foregoing provisions, lie shall dis-
tribute as dividend all money in hand.





70. Any creditor. who has not proved his debt before
the declaration of any dividend or dividends shall be entitled
to be paid out of any money for the tirne being in the hands
of the trustee any dividend or dividends lie may have failed
to receive before that money is applied to the payment of
any future dividend or dividends, but lie shall not be entitled
to disturb the distribution of any dividend declared before
his debt was proved by reason that lie has not participated
therein.

71. (1) Where a debt has been proved and the debt
includes interest or any pecuniary consideration in lieu of
interest, such interest or consideration shall, for the purposes
of dividend, be calculated at a rate not exceeding eight
per cent per annum and be calculated only up to the date
of the receiving order, without prejudice to the right of a
creditor to receive out of the estate any higher rate of interest
to which lie may be entitled after all the debts proved in the
estate have been paid in full.

(2) In dealing with the proof of the debt the following
rules shall be observed-
(a)any account settled between the debtor and the
creditor within three years preceding the date of
the receiving order may, be examined, and if it
appears that the settlement of the account forms
substantially one transaction with any debt alleged
ro be due out of the debtor's estate (whether in the
form of renewal of a loan or capitalization of interest
or ascertainment of loans or otherwise), the account
may bc reopened and the whole transaction treated
as one;
(b)any payments made by the debtor to the creditor
before the-receiving order, whether by way of bonus
or otherwise, and any sums rec6ived by the creditor
before the receiving order from the realization of
any security for the debt shall, notwithstanding any
agreement to the contrary, be appropriated to
principal and interest in the proportion that the
principal bears to the sum payable as interest at the
agreed rate;
(c)where the debt due is secured and ' the security is
realized after the receiving order, or the value





thereof is assessed in the proof, the amount realized
or assessed shall be appropriated to the satisfaction
of principal and interest in the proportion that the
principal bears to the surn payable as interest at the
agreed rate.

72. (1) When the trustee has realized all the property
of the bankrupt, or so much thereof as can be realized with-
out needlessly protracting the trusteeship, lie shall declare
a final dividend, but before so doing lie shall give notice in
manner prescribed to the persons whose claims to he creditors
have been notified to him, but not established to his satisfac-
tion, that if they do not establish their claims to the satisfac-
tion of the court within a time limited by the notice, he will
proceed to make a final dividend without regard to their
claims.

(2) After the expiration of the time so limited or if the
court on application by any such claimant grants him further
time for establishing his clairn, then on the expiration of such
further time, the property of the bankrupt shall be divided
among the creditors who have proved their debts, without
regard to the claims of any other persons.

73. No action for a dividend shall lie against the trustee,
but if the trustee refuses to pay any dividend the court may,
if it thinks fit, order him to pay it and also to pay out of
his own money interest thereon for the time that it is With-
held and the costs of the application.

74. The bankrupt shall be entitled to any surplus
remaining after payment in full of his creditors, with interest,
as by this Ordinance provided, and of the costs, charges
and expenses of the proceedings under the bankruptcy
petition.

PART IV.

OFFICIAL RECEIVER.

75. (1) Subject to the provisions of subsection (2), the
Governor may appoint such persons as lie thinks fit to be
Official Receiver and deputy official receiver of debtors'
estates under this Ordinance and may remove such persons
from such offices.





(2) No person shall be appointed Official Receiver or
deputy official receiver unless at the date of such appoint-
merit lie is a barrister, advocate, solicitor or proctor or a
niernber of the Colonial Legal Service or has successfully
passed the examinations required before admission of a
barrister, advocate, solicitor, law agent or proctor.

(3) The Official Receiver shall act tinder the general
authority and direction of the Governor and shall also be
an officer. of the court.

(4) Every deputy official receiver shall have all the
powers conferred on the Official Receiver by this Ordinance
or by any Ordinance amending or substituted for the same.

(5) Every deputy official receiver shall act under the
general authority and direction of the Official Receiver for
the time being, or if there be no Official Receiver for the
time being, under the general authority and direction of the
Governor, and shall also be an officOr of the court.

76. (1) The duties of the Official Receiver shall have
relation both to the conduct of the debtor and to the
administration of his estate.

(2) The Official Receiver may, for the purpose of
affidavits verifying proofs, petitions, or proceedings under
this Ordinance, administer oaths.

(3) All provisions in this or any other Ordinance
referring to the trustee in a bankruptcy shall, unless the
context otherwise requires or the Ordinance otherwise
provides, include the Official Receiver when acting as trustee.

(4). The trustee shall supply the Official Receiver with
such information, and give him such access to and facilities
for inspecting the bankrupt's books and documents, and
generally shall give him such aid, as may be requisite for
enabling the Official Receiver to perform his duties under
this Ordinance.

77. As regards the debtor, it shall be the duty of the
Official Receiver-
(a) to investigate the conduct of the debtor and to report
to the court, stating whether there is reason to

believe that the debtor has committed any act which
constitutes a misdemeanor under this Ordinance or
which would justify the court in refusing, suspend-
ing or qualifying an order for his discharge;
(b) to conduct the public examination of the debtor;
(c)to take such part and give such assistance in relation
to the prosecution of any fraudulent debtor as the
Attorney General may direct.

78. (1) As regards the estate of a debtor, it shall be
the d uty of the Official Receiver-
(a)pending the appointment of a trustee, to act as
interbn receiver of the debtor's estate, and where a
special manager is not appointed, as manager
thereof;
(b)to raise money in any case where in the interests
of the creditors it appears necessary so to do;
(c)to summon and preside at the first meeting of
creditors ;
d)to issue forms of proxy for use at the meetings of
creditors ;
(c)to report to the creditors as to any proposal which
the debtor may have made with respect to the mode
of liquidating his affairs ;
to advertise the receiving order, the date of the
creditors' first meeting and of the debtor's public
examination, and such other matters as it may be
necessary to advertise;
(g)to act as trustee during any vacancy in, the office of
trustee ;
(h)to assist the debtor in preparing his statement of
affairs in case th debtor has no solicitor acting for
him and is unable properly to prepare it himself,
and for this purpose he may employ at the expense
of the estate any person or persons to assist in its
preparation.

(2) For the purpose of his duties as interim. receiver
or manager the Official Receiver shall have the same powers
as if he were a receiver and manager appointed by the court,
but shall, as far as practicable, consult the wishes of the
creditors with respect to the management of the debtor's
property, and may for that purpose, if lie thinks it advisable,


summon meetings of the persons claiming to be creditors,
and shall not, unless the court otherwise orders, incur any
expense beyond such as is requisite for the protection of
the debtor's property' or the disposing of perishable goods.

(3) The Official Receiver shall account to the court and
pay over all moneys and deal with all securities in such
manner as the court from time to time directs.

PART V.

TRUSTEES IN BANKRUPTCY.

Official name.

79. The official name of a trustee in bankruptcy shall be
'the tritstee of the property of a bankrupt'
(inserting the name of the bankrupt), and by that name the
trustee may hold property of every, description, make con-
tracts, sue and be sued, enter into any engagements binding
on hiniself and his successors in office, and do all other acts
necessary or expedient to be done in the execution of his
office.

Appointinent.

80. (1) The creditors may, if they think fit, appoint
more persons than one to the office of trustee and, when
more persons than one are appointed, shall declare whether
any act required or authorized to be done by the trustee is
to be done by all or any one or more of such persons, but
all such persons are in this Ordinance included under the
term 'trustee' and shall be joint tenants of the property
of the bankrupt.

(2) The creditors may also appoint persons to act as
trustees in succession in the event of one or more of the
persons first named declining to accept the office of trustee
or failing to give security, or of the appointment of any
such person not being approved by the court.

81. (1) If a vacancy occurs in the office of a trustee
the creditors in general meeting may appoint a person to
fill the vacancy and thereupon the same proceedings shall be
taken as in the case of a first appointment.





(2) The Official Receiver shall, on the requisition of
an), creditor, summon a meeting for the purpose of filling
any such vacancy.

(3) If the creditors do not within three weeks after the
occurrence of a vacancy appoint a person to fill the vacancy,
the Official Receiver shall report the matter to the court, and
the court may appoint a trustee.

(4) During any vacancy in the office of trustee the
Official Receiver shall act as trustee.

Control over trustee.

32. (1) Subject to the provisions of this Ordinance, the
trustee shall, in the administration of the property of the
bankrupt and in the distribution thereof amongst his
creditors, have regard to any directions that may be given
by resolution of the creditors at any general meeting or by
the committee of inspection, and any directions so given by
the creditors at any general meeting shall, in case of conflict
be deemed to override any directions given by. the committee
of inspection.

(2) The trustee may frorn time to time summon general
meetings of the creditors for the purpose of ascertaining their
wishes, and it shall be his duty to summon meetings at
such times as the creditors, by resolution, either at the
meeting appointing the trustee or otherwise may direct, and
it shall be lawful for any creditor, with the concurrence of
one-fourth in value of the creditors (including himself), at
any time to request the trustee or Official. Receiver to call a
meeting of the creditors, and the trustee or Official Receiver
shall call such meeting accordingly within fourteen days:
Provided that the person at whose instance the meeting is
surnmoned shall, if so required, deposit with the trustee or
the Official Receiver, as the case may be, a sum sufficient
to pay the costs of summoning the meeting, such sum to
be repaid to him out of the estate if the court so directs.

(3) The trustee may apply to the Court in manner
prescribed for directions in relation to my particular matter
arising under the bankruptcy.





(4) Subject to the provisions of this Ordinance the
trustee shall use his discretion in the management of the
estate and its distribution among the creditors.

83. If the bankrupt or any of the creditors or any other
person is aggrieved by any act or decision of the trustee,
lie may apply to the court, and the court may confirm,
reverse or modify the act or decision complained of, and
make such order in the premises as it thinks just.

84. (1) The court shall take cognizance of the conduct
of trustees, and in the event of any trustee not faithfully
performing his duties and duly observing all the require-
ments imposed on him by Ordinance, rules or otherwise with
respect to the performance of his duties, or in the event of
any complaint being made to the court by any creditor in
regard thereto by notice duly served on the trustee at least
eight clear davs before the date of hearing, the court shall
inquire into the matter and take such action thereon as may
be deemed expedieiht.

(2) The court may either of its own motion or on the
application of the Official Receiver at any time require any
trustee to answer any inquiry made by it or him in relation
to any bankruptcy in which the trustee is engaged and may
examine on oath the trustee or any other person concerning
the bankruptcy.

(3) The court may also direct an investigation to be
made of the books and vouchers of the trustee.

Remuneration and costs.

85. (1) Where the creditors appoint any person to be
trustee of a debtor's estate his remuneration (if any) shall
bc in the nature of a commission or percentage, of which
one part shall be payable on the amount realized by the
trustee, after deducting any sums paid to secured creditors
Out of the proceeds of their securities, and the other part on
the amount distributed in dividend. Such percentages shall
be as the court may approve or as may be prescribed.

(2) The remuneration shall cover all expenses except
actual out of pocket expenses properly incurred and no





liability shall attach to the bankrupt's estate or to the
creditors in respect of any other expenses.

(3) Where a trustee acts without remuneration he shall
be allowed out of the bankrupt's estate such proper expenses
incurred by him in or about the proceedings of the bank-
ruptcy as the court may approve.

(4) A trustee shall not under any circumstances what-
ever make any arrangement for or accept from the bankrupt,
or any solicitor, auctioneer or any other person who may
be employed about a bankruptcy, any gift, remuneration
or pecuniary or other consideration or benefit whatever
beyond his said remuneration payable out of the estate, nor
shall he make any arrangement for giving tip, or give up,
any part of his remuneration, whether as receiver, manager
or trustee, to the bankrupt or any solicitor or other person
who may be employed about a bankruptcy.

86. (1) Where a trustee or manager receives remunera-
tion for his services as such, no payment shall be allowed in
his accounts in respect of the performance by any other
person of the ordinary duties which are required by Ordin-
ance or rules to be performed by himself.

(2) Where the trustee is a solicitor he may contract that
the remuneration for his services as trustee shall include all
professional services.

(3) All bills and charges of solicitors; managers,
accountants, auctioneers, brokers and other persons, not
being trustees, shall be taxed by the Registrar and no pay-
merits in respect thereof shall be allowed in the trustee's
accounts without proof of such taxation having been made.
The Registiar shall satisfy himself before passing such bills
and charges that the employment of such solicitors and other
persons, in respect of the particular matters out of which such
charges arise, has been duly sanctioned. The sanction must
be obtained before the employment, except in cases of
urgency, and in such cases it must be shown that no undue
delay took place in obtaining the sanction.

(4) Every such person shall, on request by the trustee
(which request the trustee shall make a sufficient time before
declaring a dividend), deliver his bill of costs or charges to





the Registrar for taxation, and if he fails to do so within
seven days after receipt of the request or such further time
as the court oil application may grant, the trustee shall
declare and distribute the dividend without regard to any
claim by him, and thereupon any such claim shall be for-
feited as well against the trustee personally as against the
estate.

Receipts, payments, accounts, audit.

87. The trustee. or Official Receiver shall, whenever
required by any creditor so to do, furnish and transmit to
him by post a list of the creditors showing the amount of the
debt due to each creditor, and shall be entitled to charge for
such list the sum of twenty-five cents per folio of seventy-
two words.

88. It shall be lawful for any creditor, with tile con-
currence of one-fourth of the creditors (including himself),
at any time to call upon the trustee or Official Receiver to
furnish and transinit to the creditors a statement of the
accounts up to the date of such notice, and the trustee shall
upon receipt of such notice furnish and transmit such state-
nient of the accounts : Provided that the person at whose
instance the accounts are furnished shall, if so required,
ideposit with the trustee or Official Receiver, as the case rnav
be, a sum sufficient to pay the costs of furnishing and
transmitting the accounts, which sum shall be repaid to him
out of the estate if the court so directs.

89. (1) Every trustee in a bankruptcy shall from time
to time, as may be prescribed, and not less than once in
every year during the continuance of the bankuptcy, transmit
to the Official Receiver a statement showing the proceedings
in the bankruptcy up to the date of the statement, contain-
ing the prescribed particulars and made out in the prescribed
form.

(2) The Official Receiver shall cause the statements so
transmitted to be examined, and shall call the trustee to
account for any misfeasance, neglect or omission which may
appear on the said statements or in his accounts or otherwise,
and may apply to the court for an order that the trustee





do make good any loss which the estate of the bankrupt may
have sustained by the neglect or omission.

90. No trustee in a bankruptcy or under any composition
or scheme of arrangement shall pay any sums received by
him as trustee into his private banking account or use them
otherwise than in the administration of the estate.

91. (1) The Official Receiver shall open in his name as
Official Receiver an account at a bank approved by the
Governor and shall pay to the credit thereof all sums received
by him as such Official Receiver or as trustee, and every
trustee in a bankruptcy, other than the Official Receiver,
receiving money as such trustee shall open an account at
such bank in the name of the debtor's estate and shall pay
to the credit of such account all sums which may from time
to time be received by him as such trustee.

(2) If a trustee at any titne retains for more than ten
days a sum exceeding five hundred dollars, or such other
amount as the court in any particular case may authorize
Ifirn, to retain, then unless he explains the retention to the
satisfaction of the court, lie shall pay interest on the amount
so retained in excess at the rate of twenty Per cent per annum,
and shall have no claim to remuneration, and mav be removed
from his office by the court and shall be liable to pay any
expenses occasioned by reason of his default.

(3) Any trustee paying money into his private banking
account or using it otherwise than in the administration of
the estate may without prejudice to any other liability be.
dismissed from office without remuneration and may be.
ordered by the court to make good all losses and expenses
which the creditors may suffer in consequence of his conduct.

92. (1) The trustee shall keep a record in writing in
which he shall enter a minute of all proceedings had and
resolutions passed at any meeting of creditors or of the
committee of inspection and a statement of all negotiations
and proceedings necessary to give a correct view of the
management of the bankrupt's property. Such record if in
Chinese shall be supplemented by a correct English transla-
tion thereof and shall be produced for inspection to the
Official Receiver at any time on demand.





(2) The trustee shall also keep an account, to be called
the estate account, in the form of an ordinary debtor and
creditor account, in which he shall enter from day to day
all his receipts and payments as trustee.

(3) The trustee shall produce at every meeting of
creditors and at every meeting of the committee of inspection
the record and account above mentioned and also the pass-
book of the estate's bank account, and such documents shall
be open to the inspection of any creditor at all reasonable
tinles.

93. (1) Every trustee other than the Official Receiver
shall, at such times as may be prescribed but not less than
once in each year during his tenure of office, send to the
Official Receiver an account of his receipts and payments
as such trustee.

2) The account shall be in a prescribed form, shall be
made in duplicate and shall be verified by a statutory de-
claration in the prescribed form.

(3) The Official Receiver shall cause the accounts so
sent to be audited, and for the purposes of the audit the
trustee shall furnish the Official Receiver with such vouchers
and information as he may require, and he may at any time
iequire the production of and inspect any books or accounts
kept by the trustee.
(4) When any such account has been audited it shall
be filed and kept by the Official Receiver and shall be open
on payment of the prescribed fee to the inspection of any
creditor or of the bankrupt or of any person interested.
(5) The court may if it so desires examine the trustee
and, after bearing the explanation, if any, of the trustee,
make such order as it may think just for compelling the
trustee to make good any loss to the estate which, after such
audit or examination, may appear to the court to have been
occasioned by any misfeasance, neglect or improper conduct
or omission of the trustee.

Vacation of office by Lrustee.

94. (1) When the trustee has realized all the property
of the bankrupt or so much thereof as can, in his opinion,
be realized without needlessly protracting the trusteeship,

and distributed a final dividend, if any, or has ceased to act
by reason of a composition having been approved, or has
resigned or has been removed from his office, he shall apply
to the court for his release, and if all the requirements of
the court with respect to accounts and with respect to any
order of the court against the trustee have been fulfilled,
the court may make an order for release accordingly.

(2) Where the release of a trustee is withheld the court
may, on the application of any creditor or person interested,
make such order as it thinks just, charging the trustee with
the consequences of any act or default lie may have done or
made contrary to his duty.

(3) An order of the court releasing the trustee shall
discharge him from all liability in respect of any act done
or default made by him in the administration of the affairs
of the bankrupt, or otherwise in relation to his conduct as
trustee, but any such order may be revoked on proof that
it was obtained by fraud or by suppression or concealment
of any material fact.

(4) The foregoing provisions of this section shall apply
to the Official Receiver when he is or is acting as trustee,
and when the Official Receiver has been released under this
section or any previous similar enactment he shall continue
to act as trustee for any subsequent purposes of the adrninis-
tration of the debtor's estate but no liability shall attach to
him personally by reason of his so continuing in respect
of any act done, default made or liability incurred before his
release.

(5) Where the trustee has not previously resigned or
been removed, his release shall operate as a removal of him
from his office, and thereupon the Official Receiver shall be
the trustee.

(6) Where on the release of a trustee the Official
Receiver is or is acting as trustee, no liability shall attach
to him personaliy in respect of any act done or default made
or liability incurred by any prior trustee.

95. If a receiving order is made against a trustee lie
shall thereby vacate his office of trustee.





98. (1) The creditors may by ordinary resolution, at a
meeting specially called for that purpose of which seven days'
notice has been given, remove a trustee, other than the
Official, Receiver, appointed by them, and may at the same
or any subsequent meeting appoint another person to fill
the vacancy as provided in case of a vacancy in the office of
trustee.

(2) If the court is of opinion-
(a)that a trustee appointed by the creditors is guilty of
misconduct or fails to perform his duties tinder this
Ordinance; or
(b)that his trusteeship is being needlessly protracted
without any probable advantage to the creditors ; or
(c)that lie is by reason of lunacy or continued sickness
or absence incapable of performing his duties ; or
(d)that his connexion with or relation to the bankrupt
or his estate or any particular creditor might make it
difficult for him to act with impartiality in the
interest of the creditors generally; or
(e) that the interests of the creditors require it,
the court may remove him from his office and appoint another
person in his place.

PART VI-

CONSTITUTION, PROCEDURE AND POWERS OF COURT.

Jurisdiction.

97. (1) Subject to the provisions of this Ordinance, the
court shail have full power to decide all questions of priorities
and all other questions whatsoever, whether of law or fact,
which may arise in any case of bankruptcy coming within the
cognizance or the court or which the court may deem it
expedient or necessary to decide for the purpose of doing
complete justice or making a complete distribution of property
in any such case.

(2) If in any proceeding in bankruptcy there arises any
question of fact which either of the parties desires to be tried
before a jury instead of by the court itself or which the court
thinks ought to be tried by a jury, the court may, if it thinks
fit, direct the trial to be had with a jury and the trial may be
had accordingly.





Review and appeals.

98. (1) The court may review, rescind or vary any order
made by it under its.bankruptcy jurisdiction.

(2), Every order.of the court shall be subject to appeal
to the Full Court. The appeal shall be commenced within
twenly-one days from the time when the decision appealed
against is pronounced or niade.

Procedure.

99. (1) The rules and practice of the Supreme Court for
the time being for regulating the ordinary civil procedure of
the court shall, so far as the same may be applicable and not
inconsistent with the provisions of this Ordinance, be applied
to bankruptcy proceedings, and every order of the court made
in connexion with bankruptcy proceedings may be enforced
in the same way as a judgement of the court made in respect
of any other civil proceedings may be enforced.

(2) The Registrar shall in cases of un-ency have power
to make interim orders and to hear and determine unopposed
or ex parie applications and any order so made shall, subject
to an appeal to the court, be deemed to be an order of the
court.

100. (1) Subject to the provisions of this Ordinance and
to general rules, the costs of and incidental to any proceed-
ing in court under this Ordinance shall be in the discretion
of the court: Provided that, where any issue is tried by
a jury, the costs shall follow the event unless, upon applica-
tion made at the trial, for good cause shown, the judge before
whorn such issue is tried otherwise orders.

(2) The court may at any time adjourn any proceedings
before it upon such terms, if any, as it may think fit to
impose.

(3) The court may at any time amend any written
process or proceeding under this Ordinance upon such terms,
if any, as it may think fit to impose.

(4) Where by this Ordinance or by general rules the
time for doing any act or thing is limited, the court may
extend the time either before or after the expiration thereof
upon such terms, if any, as the court may think fit to impose.




(5) Subject to general rules, the court may in any matter
take the whole or any part of the evidence viva voce or by
interrogatories or upon affidavit or, out of the Colony, by
commission.

101. Where two or more bankruptcy petitions are
presented against the same debtor or against joint debtors
the court may consolidate the proceedings or any of them on
such terms as the court thinks fit.

102. Where the petitioner does not proceed with due
diligence on his petition the court may either dismiss the
petition or substitute as petitioner any other creditor to whom
the debtor may be indebted in the amount required by this
Ordinance in the place of the petitioning creditor.

103. If a debtor by or against whom a bankruptcy petition
has been presented dies, the proceedings in the matter shall,
unless the court otherwise orders, be continued as if he were
alive.

104. The court may at any time, for sufficient reason,
make an order staying the proceedings under a bankruptcy
petition, either altogether or for a limited time, on such terms
and subject to such conditions as the court may think just.

105. Any creditor whose debt is sufficient to entitle him
to present a bankruptcy petition against all the partners of a
firm may present a petition against any one or more partners
of the firm without including the others.

106. Where there are more respondents than one to a
petition the court may dismiss the petition as to one or more
of them without prejudice to the effect of the petition as
against the other or others of them.

107. Where a niernber of a partnership is adjudged bank-
rupt the court may authorize the trustee to commence and
prosecute any action in the names of the trustee and of the
bankrupt's partner; and any release by such partner of the
debt or demand to which the action relates shall be void;
but notice of the application for authority to commence the
action shall be given to him, and he may show cause against





it, and on his application the court may, if it thinks fit,
direct that he shall receive his proper share of the proceeds
of the action, and if lie does not claim any benefit therefrom
he shall be indemnified against costs in respect thereof as
the court directs.

108. Where a bankrupt is a contractor in respect of any
contract jointly with any person or persons, such person or
persons may sue or be sued in respect of the contract without
the joinder of the bankrupt.

109. Any two or more persons, being partners, or any
person carrying on business under a partnership name, may
take proceedings or be proceeded against under this Ordin-
ance in the name of the firm, but in such case the court may,
on application by any person interested, order the names of
the persons who are partners in such firm or the narne of
such person to be disclosed in such manner, and verified on
oath or otherwise, as the court may direct.

PART VII,

SUPPLEMENTAL PROVISIONS.

Disobedience to order of court.

110. Where default is made by a trustee, debtor or other
person in obeying any order or direction made or given by the
court tinder this Ordinance, the court may make an
immediate order for the committal of such trustee, debtor
or other person for contempt of court : Provided that the
power given by this section shail be deemed to be in addition
to and not in substitution for any other right, remedy or
liability in respect of such default.

Application of Ordinance.

111. A receiving order shall not be made against any
corporation, or against any association or, company regis-
tered under the Companies Ordinance, or any enactment
repealed by that Ordinance, or against any partnership
registered under the Limited Partnerships Ordinance.

112. (1) Any creditor of a deceased debtor whose debt
would have been sufficient to support a bankruptcy petition





against the debtor, had. he been alive, may present to the
court a petition in the prescribed form praying for an order
for the administration in bankruptcy of the estate of the
deceased debtor, according to the law of, bankruptcy.

(2) The petition shall be served on the legal personal
representative of the deceased debtor or, if there is none in
the Colony, on the Official Administrator,'and the court may
in the prescribed manner, upon proof of the petitioner's
debt, unless the court is satisfied that there is a reasonable
probability that the estate will be sufficient for the payment
of the debts owing by the deceased, make an order for the
administration in bankruptcy of the deceased, debtor's estate
or may upon cause shown dismiss the petition with or with-
out costs.

(3) A petition for administration in bankruptcy under
this section shall not be presented to the court after pro-
ceedings have been commenced under the Code of Civil
Procedure for the administration of the deceased debtor's
estate but the court may, when satisfied that the estate is
insufficient to pay its debts, make an order for the adminis-
tration in bankruptcy of the estate of the deceased debtor
and the like consequences shall ensue as under an adminis-
tration order made on the petition of a creditor.

(4) Upon an order being made for the administration
in bankruptcy of a deceased debtor's estate the property of
the debtor shall vest in the Official Receiver as trustee
thereof and fie shall forthwith proceed to realize and dis-
tribute it in accordance with the provisions of this
Ordinance : Provided that the creditors shall have the same
powers as to appointment of trustees and committees of
inspection as they have in other cases where the estate of a
debtor is being administered or dealt with in bankruptcy, and
the provisions of this Ordinance relating to trustees and corn-
mittees of inspection shall apply to trustees and committees
of inspection appointed under the power so conferred. If no
committee of inspection is appointed any act or thing or any
direction or permission which might have been done or given
by a committee of inspection may be done or given by the
court.

(5) With the modifications hereinafter mentioned, all
the provisions of Part III (relating to the administration of





the property of a bankrupt) and, subject to any modification
that may be made therein by general rules under sub-
section (10) the following provisions, namely section 29
(which relates to inquiries as to the debtor's conduct, dealings
and property) and section 86 (which relates to the costs of
trustees, managers and other persons) shall, so far as the
same are applicable, apply to the case of an administration
order under this section in like manner as to an order of
adjudication under this Ordinance, and section 40 shall apply
as if for the reference to an order of adjudication there were
substituted a reference to an administration order under this
section.

(6) In the administration of the property of the deceased
debtor under an order of 'administration the Official Receiver
or trustee shall have regard to any claim by the legal personal
representative of the deceased debtor to payment of the proper
funeral and testamentary expenses incurred by him in and
about the debtor's estate, and such claims shall be deemed a
preferential debt under the order and shall, notwithstanding
anything to the contrary in the provisions of this Ordinance
relating to the priority of other debts, be payable in full out
of the debtor's. estate in priority to all other debts.

(7) If on the administration of a deceased debtor's estate
any surplus remains in the hands of the Official Receiver or
trustee, after payment in full of all the debts due from the
debtor together with the costs of the administration and
interest as provided by this Ordinance in case of bankruptcy,
such surplus shall be paid over to the legal personal represen-
tative of the deceased debtor's estate, or failing such
representative, to the Official Administrator.

(8) Service on the legal personal representative of a
deceased debtor or on the Official Administrator of a petition
tinder this section shall, in the event of an order for adminis-
tration being made thereon, be deemed to be equivalent to
notice of an act of bankruptcy, and after such service no
payment or transfer of property made by the legal personal
representative shall operate as a discharge to him as between
himself and the Official Receiver or trustee; save as aforesaid
nothing in this section shall invalidate any payment made or
any act or thing done in good faith by the legal personal
representative before the date of the order for administration.





(9) A petition for the administration of the estate of a
deceased debtor under this section may be presented by the
legal personal representative of the debtor or by the Oificial
Administrator; and where a petition is so presented by such
a representative or by the Official Administrator this section
shall apply subject to such modifications as may be prescribed
by general rules made under subsection (10).

(10) General rules for carrying into effect the provisions
of this section may be made in the same manner and to the
like effect and extent as in bankruptcy.

General rules.

113. The Chief justice with the approval of the Legis-
lative Council may make general rules for carrying into effect
the objects of this Ordinance.

Fees and remuneration.

114. (1) The Chief justice with the approval of the
Legislative Council may prescribe a scale of fees and
percentages to be charged for or in respect of proceeding
under this Ordinance.

(2) The court may remit the payment of any particular
fee or fees due from any debtor, or any part thereof, either
absolutely or on such terms as it may think fit.

115. All fees and commissions received by or payable to
the Official Receiver on the appointment of a trustee other
than himself or for acting as trustee, and any remuneration
received by the Official Receiver as an intei;im receiver or
otherwise, shall be paid by such officer forthwith into the
Treasury.

Evidence.

116. (1) A minute of proceedings at a meeting of
creditors under this Ordinance, signed by a person describing
himself as or appearing to be chairman of the meeting, shall
be received in evidence without further proof.

(2) Until the contrary is proved every meeting of
creditors in respect of the proceedings whereof a minute has





been so signed shall be deemed to have been duly convened
and held and all resolutions passed or proceedings had
thereat to have been duly passed or had.

117. Any petition or copy of a petition in bankruptcy, any
order or certificate or copy of an order or certificate made by
the court, any instrument or copy of an instrument,
or document made or used in the course of any bankruptcy
proceedings or other proceedings had under this Ordinance
shall, if it appears to be sealed with the seal of the court 01,
purports to be signed by the Registrar, or is certified as a
true copy by the Registrar, be receivable in evidence in all
legal proceedings whatsoever.

118. Subject to general rules, any affidavit to be used in
a bankruptcy court may be sworn before any person au-
thorized-to administer oaths, or in the case of a person who
is out of the Colony, before a magistrate or Justice of the
peace of other person qualilied to administer oaths in the
country where he resides (he being certified to be a magistrate
or justice of the peace, or qualified as aforesaid, by a British
minister or British consul or by a notary public).

119. In the case of the death of the debtor or his wife, or
of a witness whose evidence has been received by the court in
any proceeding under this Ordinance, the deposition of the
person so deceased, purporting to be scaled with the seal of
the court, or a copy thereof purporting to be so sealed, shall
be admitted as evidence of the matters therein deposed to.


120. Any statement made by a debtor or creditor in aily
bankruptcy to the Official Receiver or trustee through an
interpreter shall be deemed to have been made to the Official
Receiver or trustee as the case may be respectively, and
evidence thereof shall be receivable from the Official Receiver
or trustee, on it being proved either that the interpreter
employed was a sworn interpreter or that he held the substan
tive or acting appointment of interpreter, or of clerk and
interpreter, to the Official Receiver.

121. A certificate of the Official Receiver that a person
has been appointed trustee.under this Ordinance shall be con-
clusive evidence of his appointment.





Miscellaneous.
122. (1) Where by this Ordinance any limited time from
or after any, date or event is appointed or allowed for the
doing of any act or the taking of any proceeding, then in
the computation of that limited time the same shall be taken
as exclusive of the day of that date or of the happening of
that event, and as commencing at the beginning of the next
following day; and the act or proceeding shall be done or
taken at latest on the last day of that limited time as so
computed.
(2) Where the limited time so appointed or allowed is
less than six days, general holidays as defined by the
Holidays Ordinance shall not be reckoned in the computation
of such time.
(3) Where the limited time so appointed or aliowed
expires on one of the days in this section specified, the act
or proceeding shall be considered as done or taken in due
time if it is done or taken on the next day afterwards which
is not one of the days in this section specified.
(4) The provisions of this section shall take effect
notwithstanding anything contained in sections 24, 25, 26 and
paragraph (t) of subsection (i) of section 37 of the Supreme
Court Ordinance.

123. All notices and other documents for the service of
which no special mode is directed may be sent by post to
the last known address of the person to be served therewith.


124. (1) No proceeding in bankruptcy shall be in-
validated by any formal defect or by any irregularity unless
the court is of opinion that substantial injustice has been
caused by the defect or irregularity and that the injustice
cannot be remedied by any order of the court.
(2) No defect or irregularity in the appointment or
election of a receiver, trustee or member of a committee of
inspection shall vitiate any act done by him in good faith.


125. Every dred, conveyance, assignment, surrender or
other assurance relating solely to freehold or leasehold
property, or to any mortgage, charge or other incumbrance





on, or any estate, right or interest in, any real or personal
property, which is part of the estate of any bankrupt, and
which, after the execution of the deed, conveyance, assign-
ment, surrender or other assurance, either at law or in equity,
is or remains the estate of the bankrupt or of the trustee
under the bankruptcy, and every power of attorney, proxy
paper, writ, order, certificate, affidavit, bond or other instru-
rnent or writing relating solely to the property of any
bankrupt, or to any proceeding under any bankruptcy, shall
be exempt from stamp duty except in respect of fees under
this Ordinance.

126. For all or any of the purposes of this Ordinance a
corporation may act by any of its officers authorized in that
behalf under the seal of the corporation, a firm may act by
any of its members and a lunatic may act by his committee
or curator bonis.

127. Save as provided in this Ordinance, the provisions
of this Ordinance relating to the remedies against the pro
perty of a debtor, the priorities of debts, the effect of a
composition, or scheme of arrangement, and the effect of a
discharge, shall bind the Crown.

Unclaimed funds or dividends.

128. (1) Where the trustee, under any bankruptcy, com-
position or scheme, pursuant to this Ordinance has under
his control any unclaimed dividend which has remained
unclaimed for more than six months or where, after making
a final dividend, he has in his hands or under his control any
unclaimed or undistributed money arising from the property
of the debtor, he shall forthwith pay it to the Registrar who
shall carry the same to an account to be termed the bank-
ruplcy estates account. The Registrar's receipt for the
money so paid shall be a sufficient discharge to the trustee
in respect thereof.

(2) The trustee, whether he has obtained his release or
not, may be called upon by the court to account for any
unclaimed funds or dividends and any failure to comply with
the requisitions of the court in this behalf may be dealt with
as a contempt of court.





(3) Any person claiming to be entitled to any moneys
paid into the bankruptcy estates account under this Ordinance
may, within five years of the date when the same was so
paid in, apply to the Registrar for payment to him of the
same, and the Registrar, if satisfied that the person claiming
is entitled, shall make an order for the payment to such
person of the sum due. Any person dissatisfied with the
decision of the Registrar may appeal to the court.

(4) After any money has remained unclaimed in the
bankruptcy estates account for a period of five years it shall
be dealt with in accordance with the provisions of the
Unclaimed Balances Ordinance.

PART VIII.

BANKRUPTCY OFFENCES.

129. (1) Any person who has been adjudged bankrupt or
in respect of whose estate a receiving order has been made
shall in each of the cases following be guilty of a mis-
demeanor-
(a)if he does not to the best of his knowledge and belief
fully and truly discover to the trustee all his pro-
perty, real and personal, and how and to whom and
for what consideration and when he disposed of any
part thereof, except such part as has been disposed
of in the ordinary way of his trade (if any) or laid
out in the ordinary expenses of his family, unless
he proves that he had no intent to defraud;
(b)if he does not deliver up to the trustee, or as lie
directs, all such part of his movable or immovable
property as is in his custody or under his control
and which he is required by law to deliver up, unless
he proves that he had no intent to defraud;
(c)if he does not deliver up to the trustee, or as he
directs, all books, documents, papers and writings
in his custody or under his control rehiting to his
property or affairs, unless lie proves that he had no
intent to defraud;
(d)if, after the presentation of a bankruptcy petition by
or against him or within twelve months next before
such presentation, he conceals any part of his pro-





perty to the value of fifty dollars or upwards or
conceals any debt due to or from him, unless lie
proves that lie had no intent to defraud;
(e)if, after the presentation of a bankruptcy petition by
or against him or within twelve months next before
such presentation, he fraudulently removes any part
of his property to the value of fifty dolleirs oi-
upwards;
if he makes any material omission or misstatement in
any statement relating to his affairs, unless lie
proves that he had no intent to defraud;
(g)if, knowing or having any reason to believe that a
false debt has been proved by any person under the
bankruptcy, he fails for the period of a month to
inform the trustee thereof;
(h) if, after the presentation of a bankruptcy petition by
or against him, he prevents or is party or privy to
preventing the production of any book, document,
paper or writing affecting or relating to his property
or affairs, unless he proves that he had no intent to
conceal the state of his affairs or to defeat the law;
(i) if, after the presentation of a bankruptcy petition by
or against him o r within twelve months next before
such presentation, he removes, conceals, destroys,
mutilates or falsifies or is privy to the removal,
concealment, destruction, mutilation or falsification
of any book or document affecting or relating to his
property or affairs, unless he proves that he had no
intent to conceal the state of his affairs or to defeat
the law;
(j) if, after the presentation of a bankruptcy petition by
or against him or within twelve months next before
such presentation, he makes or is privy to the
making of any false entry in any book or document
affecting or relating to his property or affairs, unless
he proves that he had no intent to conceal the state
of his affairs or to defeat the law;
(k) if, after the presentation of a bankruptcy petition by
or against him or within twelve months next before
such presentation, he fraudulently parts with, alters
or makes any omission in, or is privy to the
fraudulently parting with, altering or making any





omission in, any document affecting or relating to
his property or affairs;
(1)if, after the presentation of a bankruptcy petition by
or against him or at any meeting of his creditors
within twelve months next before such presentation,
he attempts to account for any part of his property
by fictitious losses or expenses;
(m) if, within twelve months next before the presentation
of a bankruptcy petition by or against him or after
the presentation of a bankruptcy petition and before
the making of a receiving order, he by any false
representation or other fraud has obtained any pro-
perty on credit, and has not paid for the same ;
(n)if, within twelve months next before the presenta-
tion of a bankruptcy petition by or against him or
after the presentation of a bankruptcy petition and
before the making of a receiving order, he obtains
under the false pretence of carrying on business,
and if a trader, of dealing in the ordinary way of
his trade, any property on credit and has not paid
for the sarne, unless he proves that he had no intent
to defraud;
(o)if, within twelve months next before the presentation
of a bankruptcy petition by or against him or after
the presentation of a bankruptcy petition and before
the making of a receiving order, he pawns, pledges
or disposes of any property which he has obtained
on credit and has not paid for, unless, in the case
of a trader, such piwning, pledging or disposing is
in the ordinary way of his trade, and unless in any
case he proves that he had no intent to defraud;
(p)if he is guilty of any false representation or other
fraud for the purpose of obtaining the consent of his
creditors or any of them to an agreement with
reference to his affairs or to his bankruptcy.

(2) A person who has sent out of the Colony any pro-
perty which he has obtained on credit and has not paid for
shall until the contrary is proved be deemed to have disposed
of the same otherwise than in the ordinary way of his trade
if, such property not having been paid or accounted for at
the date of the receiving order by the person to whom the
same was sent, such last-mentioned person does not pay or





account for the same within a reasonable time after being
called upon to do so by the trustee or cannot be found within
a reasonable time.

(3) In any prosecution under paragraph (i) of subsection
(i) the absence of any such book or document as is referred
to in the said paragraph shall be prima facie evidence that
such book or document was removed by the'debtor contrary
to the provisions of the said paragraph or that he was privy
to its removal contrary to those provisions, and thereupon
the onus shall be upon the debtor to prove that he did not
so rembve such book or document and that he was not privy
to such removal.

(4) In any prosecution under paragraph (i) of subsection
(i) the mutilation or falsification of any such book or docu-
mentas is referred to in the said paragraph shall be prima
facie evidence that such book or document was mutilated or
falsified by the debtor in contravention of the provisions of
the said paragraph or that he was privy to its mutilation or
falsification contrary to those provisions, and thereupon the
onus shall be upon the debtor to prove that he did not so
mutilate or falsify the said book or document and that he
was not privy to such mutilation or falsification.

(5) Any person guilty of a misdemeanor in the cases
mentioned respectively in paragraphs (m), (n) and (o) of
subsection (i) shall upon conviction on indictment be liable
to imprisonment for five years or upon summary conviction
to imprisonment for one year.

(6) For the purposes of this sectiQn, the term 'trustee'
includes the Official Receiver, whether acting as Official
Receiver or as a trustee.'

130. (1) If any manager, accountant or book-keeper in
the employment of the debtor does any act which if com-
mitted by the debtor would be a contravention of any of the
provisions of paragraph (i) or paragraph (i) of subsection (i)
of section 129, or is privy to any such act whether conmmitted
by the debtor or by any other person, such manager,
accountant or book-keeper shall be deemed to be guilty of a
misdemeanor.





(2) Where any person pawns, pledges or disposes, of
any property in circumstances which amount to a mis-
demeanor under paragraph (o) of subsection (i) of section
129, every person who takes in pawn or pledge or otherwise
receives the property, knowing it to be pawned, pledged or
disposed of in such circumstances as aforesaid, shall be
guilty of a misdemeanor and shall. upon conviction on indict-
ment be liable to imprisonment for five years or upon
summary conviction to imprisonment for one year.

131. Any undischarged bankrupt shall in each of the
cases following be guilty of a misdemeanor-
(a)if either alone or jointly with any other person he
obtains credit to the extent of one hundred dollars
or upwards from any person without first informing
that person that he is an undischarged bankrupt; or
(b)if he engages in any trade or business under a name
or names other than that or those under which he
was adjudicated bankrupt and in the course of such
trade or business obtains credit from any person
without first disclosing to such person the name or
names under which he was adjudicated bankrupt;
or
(c)if he engages in any trade or business under a name
or names other than that or those under which he
was adjudicated bankrupt without first publishing,
once in the Gazette, and in three successive issues of
two local newspapers one of which shall. be Chinese,
a notice containing the following particulars-
(i) the name or names under which he was ad-
judicated bankrupt;
(ii) the last address at which he carried on any
trade or business prior to the adjudication ;
(iii) the name or names under which he intends
to carry on the trade or business;
(iv) the nature of the trade or business which he
intends to carry on ; and
(v) the address or addresses at which he intends
to carry it on.

132. Any person who has been adjudged bankrupt or in
respect of whose estate a receiving order has been made





shall in each of the cases following be guilty of a mis-
demeanor-
(a)if in incurring any debt or liability he has obtained
credit under false pretences or by means of any
other fraud; or
,(b)if with intent to defraud his creditors or any of
them he has made or caused to be made any, gift
or transfer of or charge on his property; or
(c)if with intent to defraud his creditors he has con-
cealed or removed any part of his property since
or within two months before the date of any un-
satisfied judgment or order for payrnent of money
obtained against him; or---
(d) if with intent to defraud his creditors or any of
them he has caused or connived at the levying of
any execution against his property.

133. (1) Any person who has been adjudged bankrupt,
or in respect of whose estate a receiving order has been
made, shall be guilty of a misdemeanor if, having been
engaged in any trade or business and having outstanding
at the date of the receiving order any debts contracted in
the course and for the purposes of such trade or business-
(a)he has within two years prior to the presentation
of the bankruptcy petition materially contributed to
or increpsed the extent of his insolvency by
gambling or by rash and hazardous speculations
and such gambling or speculations are unconnected
with his trade or business; or
(b)he has between the date of the presentation of the
petition and the date of the receiving order lost
any part oF his estate by such gambling or rash
and hazardous speculations as aforesaid; or
(c)on being required by the Official Receiver at any
time, or in the course of his public examination
by the court, to account for the loss of any sub-
stantial part of his estate incurred within a period
of a year next preceding the date of the presenta-
tion of the bankruptcy petition or between that
date and the date of the receiving order, lie fails
to give a satisfactory explanation of the manner in
which such loss was incurred :





Provided that, in determining for the purposes of. this
section whether any s eculations were rash and hazardous,
the financial position of the accused person at the time
when he entered into the speculations shall be taken into
consideration.

(2) A prosecution, shall not be instituted against any
person under this section except by order of the court.

134. (1) Any person who has been adjudged bankrupt
or in respect of whose estate a receiving order has been
made shall be guilty of a misdemeanor if, having been
engaged in any traJ1e or business during any period in
the two years immediately preceding the date of the pre-
sentation of the bankruptcy petition, he has not kept proper
books of account throughout that period and throughout
any further period in which he was so engaged between
the date of the presentation of the petition and the date
of the receiving order, or has not preserved all books of
account so kept : Provided that a person who has not
kept or has not preserved such books of account shall not
be convicted of an offence under this section-
(a)if his unsecured liabilities at the date of the
receiving order did not exceed, in the case of a
person who has not on any previous occasion in
this Colony or elsewhere been adjudged bankrupt
or made a composition or arrangement with his
creditors, five thousand dollars, or in any other
case one thousand dollars; or
(b)if he proves that in the circumstances in which
he traded or carried on business the omission was
honest and excusable.

(2) A prosecution shall not be instituted against any
person under this section except by order of the court.

(3) For the purposes of this section, a person shall
be deemed not to have kept proper books of account if
lie has not kept such books or accounts as are necessary
to exhibit or explain his transactions and financial position
in his trade or business, including a book or books con-
taining entries from day to day in sufficient detail of all
cash received and cash paid, and where the trade or business
flas involved dealings in goods, statements of annual stock-

takings, and (except in the case of goods sold by way of
retail trade to the actual consumer) accounts of all goods
sold and purchased showing the buyers and sellers thereof
in sufficient detail to enable the goods and the buyers and
sellers thereof to be identified. In the case of books or
accounts kept in the Chinese language a person shall, for
the purposes of this section, be deemed not to have kept
proper books of account if he has not kept such books or
accounts as may be proved to be usual and necessary, for
the purposes aforesaid, in the particular trade or business
carried on by the debtor.

135. If any person who is adjudged bankrupt, or in
respect of whose estate a receiving order has been made,
after the presentation of a bankruptcy petition by or against
him, or within six months before such presentation, quits
the Colony and takes with him, or attempts or makes
preparation to quit the Colony and take with him, any part
of his property to the amount of one hundred dollars or
upwards, which ought by law to be divided amongst his
creditors, he shall (unless he proves that he had no intent
to defraud) be guilty of a misdemeanor.

136. If any person against whom a receiving order is
made conceals himself or absents himself from his usual
or last known place of abode or business or quits the
Colony, with intent to avoid service of any process ill
bankruptcy or to avoid examination in respect of his affairs
or otherwise to defeat, embarrass or delay any proceedings
against him in bankruptcy, he shall be guilty of a mis-
demeanor. A person who, after the presentation of a bank-
ruptcy petition by or against him or within three months
next before such presentation, conceals or absents himself
as aforesaid or quits the Colony shall until the contrary
is proved be deemed to have concealed or absented him
self or quitted the Colony with such intent as is mentioned
in this section.

137. If any creditor, or any person claiming to be a
creditor, in any bankruptcy proceedings, wilfully and with
intent to defraud makes ally false claim, or any proof,
declaration or statement of account which is untrue it,





any material particular, lie shall be guilty of a misde-
meanor.

138. Where the Official Receiver or a trustee in a
bankruptcy reports to the court that in his opinion a debtor
who has been adjudged bankrupt or in respect of whose
estate a receiving order has been made has been guilty
of any offence under this Ordinance, or where the court is
satisfied upon the representation of any creditor or member
of the committee of inspection that there is ground to
believe that the debtor has been guilty of any such offence,
the court shall, if it appears to the court that there. is a
reasonable probability that the debtor will be convicted and
that the circumstances are such as to render a prosecution
desirable, order that the debtor be prosecuted for such
offence, but no such order shall be a condition antecedent
to any prosecution under this Ordinance.

139. Where a debtor has been guilty of any criminal
offence lie shall not be exempt from being proceeded against
therefor by reason that lie has obtained his discharge or
that a composition or scheme of arrangement has been
accepted or approved.

140. (1) A person guilty of an offence declared to be
a misdemeanor under this brelinance in respect of which
no special penalty is imposed by this Ordinance shall be
guilty of a misdemeanor triable summarily and liable to
imprisonment for two years.

(2) Summary proceedings in respect of any such
offence shall not be instituted after one year from the first
discovery thereof either by the Official Receiver or by the
trustee in the bankruptcy, or in the case of proceedings
instituted by a creditor, by the creditor, nor in any case
shall they be instituted after three years from the corn-
mission of the offence.

(3) In an indictment for an offence under this Ordin-
wice it shall be sufficient to set forth the substance of the
offence charged in the words of this Ordinance specifying
the offence, or as near thereto as circumstances admit,
without alleging or setting forth any debt, act of bank-





ruptey, trading, adjudication, or any proceedings in, or
order, warrant or document of, the court acting under this
Ordinance.

141. A statement or admission made by any person in
any compulsory examination or deposition before the court
on the hearing of any matter in bankruptcy shall not be
admissible as evidence against that person in any proceed
ing in respect of any of the misdemeanors referred to in
section 38 of the Larceny Ordinance (which section relates
to frauds by agents, bankers and factors).

142. Any offence under this Ordinance may be dealt
with summarily by a magistrate.
Originally 10 of 1931. Fraser 10 of 1931. 37 of 1950. 22 of 1950. Short title. Interpretation. 4 & 5 Geo. 5, c. 59, s. 167. Acts of bankruptcy. 4 & 5 Geo. 5, c. 59, s. 1. [s. 3 cont.] Rules. Form 2. Bankruptcy notices. 4 & 5 Geo. 5, c. 59, s. 2. Rules. Forms 4, 5. Jurisdiction to make receiving order. 4 & 5 Geo. 5, c. 59, s. 3. Rules. Forms 4, 5. Jurisdiction to make receiving order. 4 & 5 Geo. 5, c. 59, s. 3. Rules. Forms 25, 26. Conditions on which creditor may petition. [s. 6 cont.] 4 & 5 Geo. 5, c. 59, s. 4. Rules. Form 10. Liability of firm to have receiving order made against it. Powers of Official Receiver and duties of debtor on petition being filed. Creditor's petition and order thereon. [cf. 4 & 5 Geo. 5, c. 59, s. 5.] Rules. Form 10, 11, 12. Debtor's petition and order thereon. [cf. 4 & 5 Geo. 5, c. 59, s. 6.] Rules. Form 3. Appearance of Official Receiver on petition. Effect of receiving order. 4 & 5 Geo. 5, c. 59, s. 7. [s. 12 cont.] Power to appoint interim receiver. 4 & 5 Geo. 5, c. 59, s. 8. Rules. Form 13. Power to stay pending proceedings. 4 & 5 Geo. 5, c. 59, s. 9. Power to appoint special manager. 4 7 5 Geo. 5, c. 59, s. 10. Advertisement of receiving order. 4 & 5 Geo. 5, c. 59, s. 11. Rules. Form 27. First and other meetings of creditors. 4 & 5 Geo. 5, c. 59, s. 13. Rules. Forms 30, 31, 32, 39, 45. Rules. Debtor's statement of affairs. 4 & 5 Geo. 5, c. 59, s. 14. Rules. Form 28. [s. 18 cont.] Rules. Form 75. Public examination of debtor. [cf. 4 & 5 Geo. 5, c. 59, s. 15.] Rules. Forms 52 to 63. [See s. 141.] Compositions and schemes of arrangement. 4 & 5 Geo. 5, c. 59, s. 16. [s. 20 cont.] Rules. Forms 64, 65, 66. Rules. Form 68. Rules. Form 70. Rules. Forms 72, 73, 98, 101. [s. 20 cont.] Effect of composition or scheme. 4 & 5 Geo. 5, c. 59, s. 17. Adjudication of bankruptcy where composition not accepted or not approved. 4 & 5 Geo. 5, c. 59, s. 18. Rules. Forms 27, 78. Appointment of trustee. [cf. 4 & 5 Geo. 5, c. 59, s. 19.] [s. 23 cont.] Committee of inspection. 4 & 5 Geo. 5, c. 59, s. 20. Power to accept composition or scheme after adjudication. 4 & 5 Geo. 5, c. 59, s. 21. Rules. Forms 31, 64, 65, 66. Duties of debtor as to discovery and realization of property. 4 & 5 Geo. 5, c. 59, s. 22. Rules. Forms 99, 102, 104. Arrest of debtor under certain circumstances. 4 & 5 Geo. 5, c. 59, s. 23. Rules. Forms 109, 110. [s. 27 cont.] 37 of 1950. Schedule. Re-direction of debtor's telegrams and letters. 4 & 5 Geo. 5, c. 59, s.24. Rules. Form 111. Inquiry as to debtor's conduct, dealings and property. 4 & 5 Geo. 5, c. 59, s. 25. Rules. Forms 112 to 116. [s. 29 cont.] Discharge of bankrupt. 4 & 5 Geo. 5, c. 59, s. 26. Rules. Forms 81 to 90. 16 & 17 Geo. 5, c. 7, s. 1 (1) (a). 16 & 17 Geo. 5, c. 7, s. 1 (1) (b). [s. 30 cont.] 16 & 17 Geo. 5, c. 7, s. 1 (1) (2). [s. 30 cont.] Fraudulent settlements. 4 & 5 Geo. 5, c. 59, s. 27. Effect of order of discharge. 4 & 5 Geo. 5, c. 59, s. 28. Power of court to annul adjudication in certain cases. 4 & 5 Geo. 5, c. 59, s. 29. [s. 33 cont.] Description of debts provable in bankruptcy. 4 & 5 Geo. 5, c. 59, s. 30. Mutual credit and set-off. 4 & 5 Geo. 5, c. 59, s. 31. Rules as to proof of debts. 4 & 5 Geo. 5, c. 59, s. 32. Priority of costs and charges. Bankruptcy Rules, 1915, Rule 117 (England). Priority of debts. 4 & 5 Geo. 5, c. 59, s. 33. 16 & 17 Geo. 5, c. 7, s. 2. Rules. Form 154. [s. 38 cont.] Preferential claims in case of apprenticeship 4 & 5 Geo. 5, c. 59, s. 34. Landlord's power of distress. 4 & 5 Geo. 5, c. 59, s. 35. (Cap. 7.) Postponement of husband's and wife's claim. [cf. 4 & 5 Geo. 5, c. 59, s. 36.] Relation back of trustee's title. 4 & 5 Geo. 5, c. 59, s. 37. Description of bankrupt's property divisible amongst creditors. 4 & 5 Geo. 5, c. 59, s. 38 (1). [s. 43 cont.] 37 of 1950, Schedule. Provisions as to second bankruptcy. 16 & 17 Geo. 5, c. 7, s. 3. Restriction of rights of creditor under execution or attachment. 4 & 5 Geo. 5, c. 59, s. 40. [s. 45 cont.] Duties of bailiff as to goods taken in execution. 4 & 5 Geo. 5, c. 59, s. 41 (1). Avoidance of certain settlements. 4 & 5 Geo. 5, c. 59, s. 42. [s. 47 cont.] Avoidance of general assignments of book debts unless registered. 4 & 5 Geo. 5, c. 59, s. 43. Avoidance of preference in certain cases. 4 & 5 Geo. 5, c. 59, s. 44. Protection of bona fide transactions without notice. 4 & 5 Geo. 5, c. 59, s. 45. [s. 50 cont.] Recovery of property transferred without knowledge of receiving order. 16 & 17 Geo. 5, c. 7, s. 4. Validity of certain payments to bankrupt and assignee. 4 & 5 Geo. 5, c. 59, s. 46. Dealings with undischarged bankrupt. 4 & 5 Geo. 5, c. 59, s. 47. Possession of property by trustee. 4 & 5 Geo. 5, c. 59, s. 48. [s. 53 cont.] Rules. Forms 100, 103. Seizure of property of bankrupt. 4 & 5 Geo. 5, c. 59, s. 49. Rules. Forms 108. Sale of property out of the Colony. Appropriation of portion of pay, etc. to creditors. 4 & 5 Geo. 5, c. 59, s. 51. Rules. Forms 118, 120. Rules. Form 121. Appropriation of income of property restrained from anticipation. 4 & 5 Geo. 5, c. 59, s. 52. Rules. Forms 119, 122. Vesting and transfer of property. 4 & 5 Geo. 5, c. 59, s. 53. Disclaimer of onerous property. 4 & 5 Geo. 5, c. 59, s. 54. Rules. Forms 123 to 130. [s. 59 cont.] Powers of trustee to deal with property. 4 & 5 Geo. 5, c. 59, s. 55. (Cap. 49.) Powers exercisable by trustee with permission of committee of inspection. 4 & 5 Geo. 5, c. 59, s. 56. [s. 61 cont.] Power to allow bankrupt to manage property. 4 & 5 Geo. 5, c. 59, s. 57. Allowance to bankrupt for maintenance or service. 4 & 5 Geo. 5, c. 59, s. 58. Right of trustee to inspect goods pawned, etc. 4 & 5 Geo. 5, c. 59, s. 59. Limitation of trustee's powers in relation to copyright. 4 & 5 Geo. 5, c. 59, s. 60. Protection of Official Receiver and trustee from personal liability in certain cases. 4 & 5 Geo. 5, c. 59, s. 61. Declaration and distribution of dividends. 4 & 5 Geo. 5, c. 59, s. 62. Rules. forms Nos. 138, 139, 141. [s. 67 cont.] Joint and separate dividends. 4 & 5 Geo. 5, c. 59, s. 63. Provision for creditors residing at a distance, etc. 4 & 5 Geo. 5, c. 59, s. 64. Right of creditor who has not proved debt before declaration of a dividend. 4 & 5 Geo. 5, c. 59, s. 65. Interest on debts. 4 & 5 Geo. 5, c. 59, s. 66. [s. 71 cont.] Final dividend. 4 & 5 Geo. 5, c. 59, s. 67. No action for dividend. 4 & 5 Geo. 5, c. 59, s. 68. Right of bankrupt to surplus. 4 & 5 Geo. 5, c. 59, s. 69. Appointment of Official Receiver. Status of Official Receiver. 4 & 5 Geo. 5, c. 59, s. 72. Duties of Official Receiver as regards the debtor's conduct. 4 & 5 Geo. 5, c. 59, s. 73. [s. 77 cont.] Duties of Official Receiver as to debtor's estate. 4 & 5 Geo. 5, c. 59, s. 74. Rules. Forms 50, 51. Rules. Form 27. Official name of trustee. 4 & 5 Geo. 5, c. 59, s. 76. Power to appoint joint or successive trustees. 4 & 5 Geo. 5, c. 59, s. 77. Proceedings in case of vacancy in office of trustee. 4 & 5 Geo. 5, c. 59, s. 78. [s. 81 cont.] Discretionary powers of trustee and control thereof. 4 & 5 Geo. 5, c. 59, s, 79. Rules. Forms 131, 132. Appeal to court against trustee. 4 & 5 Geo. 5, c. 59, s. 80. Control of court over trustee. 4 & 5 Geo. 5, c. 59, s. 81. Remuneration of trustee. 4 & 5 Geo. 5, c. 59, s. 82. [s. 85 cont.] Allowance and taxation of costs. 4 & 5 Geo. 5, c. 59, s. 83. Trustee to furnish list of creditors. 4 & 5 Geo. 5, c. 59, s. 84. Trustee to furnish statement of accounts. 4 & 5 Geo. 5, c. 59, s. 85. Rules. Form 150. Annual statement of proceedings. 4 & 5 Geo. 5, c. 59, s. 87. Rules. Form 146. [s. 89 cont.] Trustee not to pay into private account. 4 & 5 Geo. 5, c. 59. S. 88. Payment of moneys into bank. 4 & 5 Geo. 5, c. 59, s. 89 (5). Record and account to be kept by trustee. Audit of trustee's accounts. 4 & 5 Geo. 5, c. 59, s. 92. Rules. Form 146. Release of trustee. 4 & 5 Geo. 5, c. 59, s. 93. Rules. Forms 137, 152, 153. Office of trustee vacated by insolvency. 4 & 5 Geo. 5, c. 59, s. 94. Removal of trustee. 4 & 5 Geo. 5, c. 59, s. 95. General power of court. 4 & 5 Geo. 5, c. 59, s. 105. Rules. Form 133. Review and appeals in bankruptcy. 4 & 5 Geo. 5, c. 59, s. 108. General rules of procedure. Discretionary powers of court. 4 & 5 Geo. 5, c. 59, s. 109. Consolidation of petitions. 4 & 5 Geo. 5, c. 59, s. 110. Power to change carriage of proceedings. 4 & 5 Geo. 5, c. 59, s. 111. Continuance of proceedings on death of debtor. 4 & 5 Geo. 5, c. 59, s. 112. Power to stay proceedings. 4 & 5 Geo. 5, c. 59, .s 113. Power to present petition against one partner. 4 & 5 Geo. 5, c. 59, s. 114. Power to dismiss petition against some respondents only. 4 & 5 Geo. 5, c. 59, s. 115. Actions by trustee and bankrupt's partners. 4 & 5 Geo. 5, c. 59, s. 117. [s. 107 cont.] Actions on joint contracts. 4 & 5 Geo. 5, c. 59, s. 118. Proceedings in partnership name. 4 & 5 Geo. 5, c. 59, s. 119. Disobedience to order of court. 4 & 5 Geo. 5, c. 59, s. 105 (5). Rules. Forms 98, 101. Exclusion of corporations, companies and limited partnership. 4 & 5 Geo. 5, c. 59, s. 126. (Cap. 32). (Cap. 37). Administration in bankruptcy of estate of person dying insolvent. 4 & 5 Geo. 5, c. 59, s. 51. Rules. Forms 134. (Cap. 4, rules.) Rules. Form 136. [s. 112 cont.] Rules. Form 135. Power to make general rules. 4 & 5 Geo.5, c. 59, s. 132 (1). Fees and remuneration. 4 & 5 Geo. 5, c. 59, s. 133 (1). Disposal of Official Receiver's fees. Evidence of proceedings at meetings of creditors. 4 & 5 Geo. 5, c. 59, s. 138. [s. 116 cont.] Evidence of proceedings in bankruptcy. 4 & 5 Geo. 5, c. 59, s. 139. Swearing of affidavits. 4 & 5 Geo. 5, c. 59, s. 140. Death of debtor or witness. 4 & 5 Geo. 5, c. 59, s. 141. Statements made to Official Receiver or trustee through an interpreter. Certificate of appointment of trustee. 4 & 5 Geo. 5, c. 59, s. 143. Computation of time. 4 & 5 Geo. 5, c. 59, s. 145. (Cap. 149). (Cap. 4). Service of notices. 4 & 5 Geo. 5, c. 59, s. 146. Formal defect not to invalidate proceedings. 4 & 5 Geo. 5, c. 59, s. 147. Exemption of deeds, etc. from stamp duty. 4 & 5 Geo. 5, c. 59, s. 148. [s. 125 cont.] Acting of corporations, partners, etc. 4 & 5 Geo. 5, c. 59, s. 149. Certain provisions to bind Crown. 4 & 5 Geo. 5, c. 59 s. 151. Unclaimed and undistributed dividends or funds. 4 & 5 Geo. 5, c. 59, s. 153 (1). (Cap. 122). Fraudulent debtors. 4 & 5 Geo. 5, c. 59, s. 154. 16 & 17 Geo. 5, c. 7, s. 5. [s. 129 cont.] [s. 129 cont.] Certain offences by persons other than the debtor. 16 & 17 Geo. 5, c. 7,s. 5 (2). Undischarged bankrupt obtaining credit. 4 & 5 Geo. 5, c. 59, s. 155. Frauds by bankrupts, etc., 4 & 5 Geo. 5, c. 59, s. 156. [s. 132 cont.] 16 & 17 Geo. 5, c. 7. S. 6. Bankrupt guilty of gambling, etc. 4 & 5 Geo. 5, c. 59, s. 157. Bankrupt failing to keep proper accounts. 4 & 5 Geo. 5, c. 59, s. 158. 16 & 17 Geo. 5, c. 7, s. 7. [s. 134 cont.] Bankrupt absconding with property. 4 & 5 Geo. 5, c. 59, s. 159. Debtor concealing himself to avoid service, etc. False claim, etc. 4 & 5 Geo. 5, c. 59, s. 160. Order by court for prosecution on report of trustee. 4 & 5 Geo. 5, c. 59, s. 161. 16 & 17 Geo. 5, c. 7, s. 8. Criminal liability after discharge or composition. 4 & 5 Geo. 5, c. 59, s. 162. Trial and punishment of offences. 4 & 5 Geo. 5, c.59, s. 164. 16 & 17 Geo. 5, c. 7, s. 10. 22 of 1950, s. 3. [s. 140 cont.] Evidence as to frauds by agents. 4 & 5 Geo. 5, c. 59, s. 166. (Cap. 210). Summary prosecution.

Originally 10 of 1931. Fraser 10 of 1931. 37 of 1950. 22 of 1950. Short title. Interpretation. 4 & 5 Geo. 5, c. 59, s. 167. Acts of bankruptcy. 4 & 5 Geo. 5, c. 59, s. 1. [s. 3 cont.] Rules. Form 2. Bankruptcy notices. 4 & 5 Geo. 5, c. 59, s. 2. Rules. Forms 4, 5. Jurisdiction to make receiving order. 4 & 5 Geo. 5, c. 59, s. 3. Rules. Forms 4, 5. Jurisdiction to make receiving order. 4 & 5 Geo. 5, c. 59, s. 3. Rules. Forms 25, 26. Conditions on which creditor may petition. [s. 6 cont.] 4 & 5 Geo. 5, c. 59, s. 4. Rules. Form 10. Liability of firm to have receiving order made against it. Powers of Official Receiver and duties of debtor on petition being filed. Creditor's petition and order thereon. [cf. 4 & 5 Geo. 5, c. 59, s. 5.] Rules. Form 10, 11, 12. Debtor's petition and order thereon. [cf. 4 & 5 Geo. 5, c. 59, s. 6.] Rules. Form 3. Appearance of Official Receiver on petition. Effect of receiving order. 4 & 5 Geo. 5, c. 59, s. 7. [s. 12 cont.] Power to appoint interim receiver. 4 & 5 Geo. 5, c. 59, s. 8. Rules. Form 13. Power to stay pending proceedings. 4 & 5 Geo. 5, c. 59, s. 9. Power to appoint special manager. 4 7 5 Geo. 5, c. 59, s. 10. Advertisement of receiving order. 4 & 5 Geo. 5, c. 59, s. 11. Rules. Form 27. First and other meetings of creditors. 4 & 5 Geo. 5, c. 59, s. 13. Rules. Forms 30, 31, 32, 39, 45. Rules. Debtor's statement of affairs. 4 & 5 Geo. 5, c. 59, s. 14. Rules. Form 28. [s. 18 cont.] Rules. Form 75. Public examination of debtor. [cf. 4 & 5 Geo. 5, c. 59, s. 15.] Rules. Forms 52 to 63. [See s. 141.] Compositions and schemes of arrangement. 4 & 5 Geo. 5, c. 59, s. 16. [s. 20 cont.] Rules. Forms 64, 65, 66. Rules. Form 68. Rules. Form 70. Rules. Forms 72, 73, 98, 101. [s. 20 cont.] Effect of composition or scheme. 4 & 5 Geo. 5, c. 59, s. 17. Adjudication of bankruptcy where composition not accepted or not approved. 4 & 5 Geo. 5, c. 59, s. 18. Rules. Forms 27, 78. Appointment of trustee. [cf. 4 & 5 Geo. 5, c. 59, s. 19.] [s. 23 cont.] Committee of inspection. 4 & 5 Geo. 5, c. 59, s. 20. Power to accept composition or scheme after adjudication. 4 & 5 Geo. 5, c. 59, s. 21. Rules. Forms 31, 64, 65, 66. Duties of debtor as to discovery and realization of property. 4 & 5 Geo. 5, c. 59, s. 22. Rules. Forms 99, 102, 104. Arrest of debtor under certain circumstances. 4 & 5 Geo. 5, c. 59, s. 23. Rules. Forms 109, 110. [s. 27 cont.] 37 of 1950. Schedule. Re-direction of debtor's telegrams and letters. 4 & 5 Geo. 5, c. 59, s.24. Rules. Form 111. Inquiry as to debtor's conduct, dealings and property. 4 & 5 Geo. 5, c. 59, s. 25. Rules. Forms 112 to 116. [s. 29 cont.] Discharge of bankrupt. 4 & 5 Geo. 5, c. 59, s. 26. Rules. Forms 81 to 90. 16 & 17 Geo. 5, c. 7, s. 1 (1) (a). 16 & 17 Geo. 5, c. 7, s. 1 (1) (b). [s. 30 cont.] 16 & 17 Geo. 5, c. 7, s. 1 (1) (2). [s. 30 cont.] Fraudulent settlements. 4 & 5 Geo. 5, c. 59, s. 27. Effect of order of discharge. 4 & 5 Geo. 5, c. 59, s. 28. Power of court to annul adjudication in certain cases. 4 & 5 Geo. 5, c. 59, s. 29. [s. 33 cont.] Description of debts provable in bankruptcy. 4 & 5 Geo. 5, c. 59, s. 30. Mutual credit and set-off. 4 & 5 Geo. 5, c. 59, s. 31. Rules as to proof of debts. 4 & 5 Geo. 5, c. 59, s. 32. Priority of costs and charges. Bankruptcy Rules, 1915, Rule 117 (England). Priority of debts. 4 & 5 Geo. 5, c. 59, s. 33. 16 & 17 Geo. 5, c. 7, s. 2. Rules. Form 154. [s. 38 cont.] Preferential claims in case of apprenticeship 4 & 5 Geo. 5, c. 59, s. 34. Landlord's power of distress. 4 & 5 Geo. 5, c. 59, s. 35. (Cap. 7.) Postponement of husband's and wife's claim. [cf. 4 & 5 Geo. 5, c. 59, s. 36.] Relation back of trustee's title. 4 & 5 Geo. 5, c. 59, s. 37. Description of bankrupt's property divisible amongst creditors. 4 & 5 Geo. 5, c. 59, s. 38 (1). [s. 43 cont.] 37 of 1950, Schedule. Provisions as to second bankruptcy. 16 & 17 Geo. 5, c. 7, s. 3. Restriction of rights of creditor under execution or attachment. 4 & 5 Geo. 5, c. 59, s. 40. [s. 45 cont.] Duties of bailiff as to goods taken in execution. 4 & 5 Geo. 5, c. 59, s. 41 (1). Avoidance of certain settlements. 4 & 5 Geo. 5, c. 59, s. 42. [s. 47 cont.] Avoidance of general assignments of book debts unless registered. 4 & 5 Geo. 5, c. 59, s. 43. Avoidance of preference in certain cases. 4 & 5 Geo. 5, c. 59, s. 44. Protection of bona fide transactions without notice. 4 & 5 Geo. 5, c. 59, s. 45. [s. 50 cont.] Recovery of property transferred without knowledge of receiving order. 16 & 17 Geo. 5, c. 7, s. 4. Validity of certain payments to bankrupt and assignee. 4 & 5 Geo. 5, c. 59, s. 46. Dealings with undischarged bankrupt. 4 & 5 Geo. 5, c. 59, s. 47. Possession of property by trustee. 4 & 5 Geo. 5, c. 59, s. 48. [s. 53 cont.] Rules. Forms 100, 103. Seizure of property of bankrupt. 4 & 5 Geo. 5, c. 59, s. 49. Rules. Forms 108. Sale of property out of the Colony. Appropriation of portion of pay, etc. to creditors. 4 & 5 Geo. 5, c. 59, s. 51. Rules. Forms 118, 120. Rules. Form 121. Appropriation of income of property restrained from anticipation. 4 & 5 Geo. 5, c. 59, s. 52. Rules. Forms 119, 122. Vesting and transfer of property. 4 & 5 Geo. 5, c. 59, s. 53. Disclaimer of onerous property. 4 & 5 Geo. 5, c. 59, s. 54. Rules. Forms 123 to 130. [s. 59 cont.] Powers of trustee to deal with property. 4 & 5 Geo. 5, c. 59, s. 55. (Cap. 49.) Powers exercisable by trustee with permission of committee of inspection. 4 & 5 Geo. 5, c. 59, s. 56. [s. 61 cont.] Power to allow bankrupt to manage property. 4 & 5 Geo. 5, c. 59, s. 57. Allowance to bankrupt for maintenance or service. 4 & 5 Geo. 5, c. 59, s. 58. Right of trustee to inspect goods pawned, etc. 4 & 5 Geo. 5, c. 59, s. 59. Limitation of trustee's powers in relation to copyright. 4 & 5 Geo. 5, c. 59, s. 60. Protection of Official Receiver and trustee from personal liability in certain cases. 4 & 5 Geo. 5, c. 59, s. 61. Declaration and distribution of dividends. 4 & 5 Geo. 5, c. 59, s. 62. Rules. forms Nos. 138, 139, 141. [s. 67 cont.] Joint and separate dividends. 4 & 5 Geo. 5, c. 59, s. 63. Provision for creditors residing at a distance, etc. 4 & 5 Geo. 5, c. 59, s. 64. Right of creditor who has not proved debt before declaration of a dividend. 4 & 5 Geo. 5, c. 59, s. 65. Interest on debts. 4 & 5 Geo. 5, c. 59, s. 66. [s. 71 cont.] Final dividend. 4 & 5 Geo. 5, c. 59, s. 67. No action for dividend. 4 & 5 Geo. 5, c. 59, s. 68. Right of bankrupt to surplus. 4 & 5 Geo. 5, c. 59, s. 69. Appointment of Official Receiver. Status of Official Receiver. 4 & 5 Geo. 5, c. 59, s. 72. Duties of Official Receiver as regards the debtor's conduct. 4 & 5 Geo. 5, c. 59, s. 73. [s. 77 cont.] Duties of Official Receiver as to debtor's estate. 4 & 5 Geo. 5, c. 59, s. 74. Rules. Forms 50, 51. Rules. Form 27. Official name of trustee. 4 & 5 Geo. 5, c. 59, s. 76. Power to appoint joint or successive trustees. 4 & 5 Geo. 5, c. 59, s. 77. Proceedings in case of vacancy in office of trustee. 4 & 5 Geo. 5, c. 59, s. 78. [s. 81 cont.] Discretionary powers of trustee and control thereof. 4 & 5 Geo. 5, c. 59, s, 79. Rules. Forms 131, 132. Appeal to court against trustee. 4 & 5 Geo. 5, c. 59, s. 80. Control of court over trustee. 4 & 5 Geo. 5, c. 59, s. 81. Remuneration of trustee. 4 & 5 Geo. 5, c. 59, s. 82. [s. 85 cont.] Allowance and taxation of costs. 4 & 5 Geo. 5, c. 59, s. 83. Trustee to furnish list of creditors. 4 & 5 Geo. 5, c. 59, s. 84. Trustee to furnish statement of accounts. 4 & 5 Geo. 5, c. 59, s. 85. Rules. Form 150. Annual statement of proceedings. 4 & 5 Geo. 5, c. 59, s. 87. Rules. Form 146. [s. 89 cont.] Trustee not to pay into private account. 4 & 5 Geo. 5, c. 59. S. 88. Payment of moneys into bank. 4 & 5 Geo. 5, c. 59, s. 89 (5). Record and account to be kept by trustee. Audit of trustee's accounts. 4 & 5 Geo. 5, c. 59, s. 92. Rules. Form 146. Release of trustee. 4 & 5 Geo. 5, c. 59, s. 93. Rules. Forms 137, 152, 153. Office of trustee vacated by insolvency. 4 & 5 Geo. 5, c. 59, s. 94. Removal of trustee. 4 & 5 Geo. 5, c. 59, s. 95. General power of court. 4 & 5 Geo. 5, c. 59, s. 105. Rules. Form 133. Review and appeals in bankruptcy. 4 & 5 Geo. 5, c. 59, s. 108. General rules of procedure. Discretionary powers of court. 4 & 5 Geo. 5, c. 59, s. 109. Consolidation of petitions. 4 & 5 Geo. 5, c. 59, s. 110. Power to change carriage of proceedings. 4 & 5 Geo. 5, c. 59, s. 111. Continuance of proceedings on death of debtor. 4 & 5 Geo. 5, c. 59, s. 112. Power to stay proceedings. 4 & 5 Geo. 5, c. 59, .s 113. Power to present petition against one partner. 4 & 5 Geo. 5, c. 59, s. 114. Power to dismiss petition against some respondents only. 4 & 5 Geo. 5, c. 59, s. 115. Actions by trustee and bankrupt's partners. 4 & 5 Geo. 5, c. 59, s. 117. [s. 107 cont.] Actions on joint contracts. 4 & 5 Geo. 5, c. 59, s. 118. Proceedings in partnership name. 4 & 5 Geo. 5, c. 59, s. 119. Disobedience to order of court. 4 & 5 Geo. 5, c. 59, s. 105 (5). Rules. Forms 98, 101. Exclusion of corporations, companies and limited partnership. 4 & 5 Geo. 5, c. 59, s. 126. (Cap. 32). (Cap. 37). Administration in bankruptcy of estate of person dying insolvent. 4 & 5 Geo. 5, c. 59, s. 51. Rules. Forms 134. (Cap. 4, rules.) Rules. Form 136. [s. 112 cont.] Rules. Form 135. Power to make general rules. 4 & 5 Geo.5, c. 59, s. 132 (1). Fees and remuneration. 4 & 5 Geo. 5, c. 59, s. 133 (1). Disposal of Official Receiver's fees. Evidence of proceedings at meetings of creditors. 4 & 5 Geo. 5, c. 59, s. 138. [s. 116 cont.] Evidence of proceedings in bankruptcy. 4 & 5 Geo. 5, c. 59, s. 139. Swearing of affidavits. 4 & 5 Geo. 5, c. 59, s. 140. Death of debtor or witness. 4 & 5 Geo. 5, c. 59, s. 141. Statements made to Official Receiver or trustee through an interpreter. Certificate of appointment of trustee. 4 & 5 Geo. 5, c. 59, s. 143. Computation of time. 4 & 5 Geo. 5, c. 59, s. 145. (Cap. 149). (Cap. 4). Service of notices. 4 & 5 Geo. 5, c. 59, s. 146. Formal defect not to invalidate proceedings. 4 & 5 Geo. 5, c. 59, s. 147. Exemption of deeds, etc. from stamp duty. 4 & 5 Geo. 5, c. 59, s. 148. [s. 125 cont.] Acting of corporations, partners, etc. 4 & 5 Geo. 5, c. 59, s. 149. Certain provisions to bind Crown. 4 & 5 Geo. 5, c. 59 s. 151. Unclaimed and undistributed dividends or funds. 4 & 5 Geo. 5, c. 59, s. 153 (1). (Cap. 122). Fraudulent debtors. 4 & 5 Geo. 5, c. 59, s. 154. 16 & 17 Geo. 5, c. 7, s. 5. [s. 129 cont.] [s. 129 cont.] Certain offences by persons other than the debtor. 16 & 17 Geo. 5, c. 7,s. 5 (2). Undischarged bankrupt obtaining credit. 4 & 5 Geo. 5, c. 59, s. 155. Frauds by bankrupts, etc., 4 & 5 Geo. 5, c. 59, s. 156. [s. 132 cont.] 16 & 17 Geo. 5, c. 7. S. 6. Bankrupt guilty of gambling, etc. 4 & 5 Geo. 5, c. 59, s. 157. Bankrupt failing to keep proper accounts. 4 & 5 Geo. 5, c. 59, s. 158. 16 & 17 Geo. 5, c. 7, s. 7. [s. 134 cont.] Bankrupt absconding with property. 4 & 5 Geo. 5, c. 59, s. 159. Debtor concealing himself to avoid service, etc. False claim, etc. 4 & 5 Geo. 5, c. 59, s. 160. Order by court for prosecution on report of trustee. 4 & 5 Geo. 5, c. 59, s. 161. 16 & 17 Geo. 5, c. 7, s. 8. Criminal liability after discharge or composition. 4 & 5 Geo. 5, c. 59, s. 162. Trial and punishment of offences. 4 & 5 Geo. 5, c.59, s. 164. 16 & 17 Geo. 5, c. 7, s. 10. 22 of 1950, s. 3. [s. 140 cont.] Evidence as to frauds by agents. 4 & 5 Geo. 5, c. 59, s. 166. (Cap. 210). Summary prosecution.

https://oelawhk.lib.hku.hk/items/show/1649

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