No. XVIII.
An Act for ex tending the remedies of Creditors against the property of Debtors in New South Wales and the Dependencies thereof. [15th October, 1839.]
| WH E R E A S is defective in not p rovid ing m o r e effectual means for enabl ing | credi tors t o obta in satisfaction from t h e p rope r ty of the i r debtors and |
| i t is expedient t o give more extensive remedies agains t t he personal es ta te of the i r debtors t h a n t hey now possess Be i t enac ted by H i s |
| Excel lency t h e Governor | of | N e w South W a l e s w i th t h e advice | of | t h e | |
| Legis la t ive Counci l thereof Tha t b y v i r t ue of any wr i t of fieri facias to be sued out of t h e Supreme Cour t or any inferior Cour t in t he said Colony after t h e t i m e appoin ted for t h e commencement of th i s A c t or any precept in pu r suance thereof t h e Sheriff or other officer h a v i n g t h e execut ion thereof m a y and shal l seize a n d t a k e any money or b a n k no te or notes of any B a n k i n g Society or Company established in N e w South Wales or e lsewhere a n d any cheques bills of exchange promissory notes bonds specialties or o ther securit ies for money be longing to t h e person aga ins t whose effects such wr i t of fieri facias shall be sued out a n d m a y and shal l pay or deliver t o t h e p a r t y su ing out such execut ion any money or b a n k notes wh ich shal l be so seized or a sufficient p a r t thereof and m a y a n d shall hold any such cheques bills of exchange promissory notes bonds specialties or o ther securi t ies for money as a securi ty or securit ies for t h e a m o u n t by such wri t of fieri facias directed to be levied or so m u c h thereof as shall no t have been otherwise levied and raised a n d m a y sue in t h e n a m e of such Sheriff or o ther officer for t h e recovery of t h e sum or sums secured the reby if a n d when t h e t ime of p a y m e n t thereof shall have arr ived a n d t h a t t h e paymen t to such Sheriff or o ther officer by t h e p a r t y l iable on any such cheque bill of exchange promissory note bond specialty or o the r securi ty w i th or w i t h o u t ' sui t or t h e recovery a n d levying execut ion aga ins t t h e p a r t y so liable shal l discharge h i m to t h e ex ten t of such p a y m e n t or of such recovery a n d levy in execut ion as t h e case m a y be from his l iabil i ty on any such cheque bill of exchange promissory no te bond specialty or o ther securi ty and such Sheriff a n d o ther officer m a y a n d shall pay over to t h e p a r t y su ing ou t such wr i t t h e money so to be recovered or such p a r t thereof as shall be sufficient to discharge t he a m o u n t by such wr i t directed to be levied a n d if after satisfaction of t he a m o u n t so to be levied toge the r w i th Sheriff's poundage a n d expenses any surp lus shal l r ema in in t he h a n d s of such Sheriff or o ther officer t h e same shal l be pa id to t h e p a r t y agains t w h o m such wr i t shal l be so issued P ro vided t h a t no such Sheriff or other officer shal l be bound to sue any pa r ty l iable u p o n any such cheque bil l of exchange promissory no t e bond special ty or o ther secur i ty unless t h e p a r t y su ing out such execut ion shall en te r in to a bond wi th two sufficient suret ies for indemnifying h i m from al l costs a n d expenses to be incur red in t h e prosecut ion of such act ion or to which he m a y become liable in conse quence thereof t h e expense of such bond to be deducted out of any money to be recovered in such act ion. |
| t h e exis t ing | L a w in t h e Colony of | N e w South | W a l e s |
| 2. A n d be i t enacted T h a t | if any person agains t w h o m | a n y |
| j u d g m e n t | shal l have been en te red | u p | in t h e | Supreme | Cour t | shal l |
have any stock or shares of or in any publ ic company (whether incorpora ted or not ) or any deposit in any bank of N e w Sou th Wales or i ts Dependencies s t and ing in his n a m e or in his own r igh t or in t h e n a m e of any person in t r u s t for h i m or shall have or be ent i t led
| to any equi ty of r edempt ion or o ther equi table in teres t (which a t | law |
| canno t be t a k e n in execut ion) | i t shal l be lawful for | a J u d g e of | t h e |
said Cour t on t h e appl icat ion of any j u d g m e n t credi tor to order t h a t such stock shares or deposits or any such equi ty of redempt ion or equi table in te res t or such of t h e m or such p a r t thereof respectively
| as he shal l t h i n k fit shall s tand charged wi th t h e paymen t of | t h e |
| a m o u n t for which j u d g m e n t shall have been so recovered and | in teres t |
t he r eon and such order shall ent i t le t h e j u d g m e n t credi tor t o all such remedies as he would have been ent i t led to if such charge had been m a d e in his favour by the j u d g m e n t debtor Provided t h a t no pro ceedings shal l he t aken to have t h e benefit of such charge un t i l after t h e expira t ion of t h ree calendar m o n t h s from t h e date of such order.
| 3. | A n d in order to prevent any person aga ins t w h o m | j u d g m e n t |
shal l have been obtained from t ransfer r ing receiving or disposing of any stocks shares or deposits hereby au thor ized to be charged for t h e benefit of t h e j u d g m e n t creditor unde r an order of a J u d g e as aforesaid Be i t enac ted Tha t every order of a J u d g e charg ing any stock or shares in any such public; company or any deposit in any such b a n k under th i s Ac t m a y be m a d e in t he first ins tance ex pa r t e and wi thou t any not ice
| to t he j u d g m e n t debtor a n d shall be a n order to shew cause | only | and |
| such | order if any stock or shares or deposits s t and ing in t h e n a m e of |
| t h e j u d g m e n t | debtor in his own r igh t or in t h e n a m e of any person | in |
t r u s t for h i m is t o be affected by such order shall r e s t ra in such publ ic company and the accoun tan t and cashier of every such bank from p e r m i t t i n g t h e t ransfer or disposal thereof and if after not ice of such order to t h e person or persons to be res t ra ined the reby or in case of corporat ions to any author ized agen t of such corporat ion and before t h e same order shall be discharged or m a d e absolute such corpora t ion or person or persons shall pe rmi t any such t ransfer or disposal t o be m a d e t h e n a n d in such case t h e corporat ion or person or persons so pe rmi t t i ng such t ransfer or disposal shal l be l iable to t h e j u d g m e n t credi tor for t h e va lue or a m o u n t of t h e p roper ty so charged or so t ransferred or disposed of or such p a r t thereof as m a y be sufficient t o satisfy his j u d g m e n t and t h a t no disposition of t h e
| j u d g m e n t | debtor in t h e m e a n t i m e shall be val id or effectual as | against |
| t he j u d g m e n t creditor | and | fur ther | t h a t | unless | t he j u d g m e n t | debtor |
shall w i th in a t i m e to be ment ioned in such order shew to a J u d g e of t h e said Cour t sufficient cause to t he con t ra ry t h e said order shal l after proof of not ice thereof to t h e j u d g m e n t debtor his a t to rney or agent
| be made absolute Provided t h a t any such J u d g e | shal l upon | applica |
t ion of the j u d g m e n t debtor or any person in teres ted have full power to discharge or va ry such order and to award such costs u p o n such
| appl icat ion as he m a y t h i n k | fit. |
4 . A n d be i t enacted Tha t if any j u d g m e n t credi tor who under
t he powers of th is A c t shall have obta ined any such charge or be en t i t l ed to t he benefit of any securi ty whatsoever shall af terwards and before t h e p roper ty so charged or secured shal l have been converted in to money or realized and the produce thereof applied towards pay m e n t of t he j u d g m e n t debt cause t he person of t h e j u d g m e n t debtor
| to be t a k e n or charged in execut ion upon such j u d g m e n t | t hen and in |
| such case such j u d g m e n t creditor shal l be deemed and t aken to | have |
| re l inquished all r i g h t and t i t le t o t h e benefit | of such charge or secur i ty |
| and shall forfeit the same accordingly. |
5. A n d be i t enacted T h a t all remedies hereby given to j u d g m e n t creditors are l ikewise given to any persons to w h o m any monies or costs charges or expenses a re by any decree or order in E q u i t y or any ru le or order a t Common L a w by t h e Supreme Cour t respectively directed to be paid .
| 6. A n d | be i t enac ted T h a t | th i s A c t shal l commence and | t ake |
effect from and after t h e pass ing and publ ica t ion thereof.