Insolvency Act 1870 (SA)
ANKO TRICESUN0 TERTIO
No. 3.
[Assented to, 16th June,
i870.1
W | Insolvent p ~ n m b l e. |
Act, 1860"-Be | it thercforc Enacted by the Governor of the |
Province of South Australia, with the advice ancl consent of thc Legislative Council and House of Assembly of thc said l'rovince, in this present Parliament asscrnbled, as follows :-
l. This Act mny be cited as the '' Insolv~nt | &'urthlcr | Amendment |
Act, 1870," and shall cornmencc a r d h k e effect from and aftcr the
passing hereof.
2. E\eellt so far as the sane is inconsistent with, or altzrcd by Incorporationof M
this Act, | and | " The Insolvent Amend- |
ment Act, 1867," d d | be incorporated and read herewith as forming | a n d U T h e |
Insolvent Atnendment
onc Act. |
Division |
4. Sectiolls |
Act, 1860," and so much of the said Act as relates to, and so far
lTl of No, 16, 1S60.only as thc same relates to the petition of a debtor other than a debtor in actual custody for debt jn any gaol for adjudication of in- solvency against himself, and the proceedings on and after such petition, are hereby repealed.
Pnar
I.
PART | I.-As | to the appellate jurisdiction of the Supreme Court. | |
5. If any insolvent, trustee, creditor, debtor, or any person |
claiming |
33" VICTORIB, No.3.
I. claiming to bc
n creditor, or any person who shall have appearedlion Court Or
mi~sioner. | and submitted to the jurisdiction of thc Court of Insolvency, or who slrall be affected by any order, determination, or direction of the said Court or tlie Commissioner, s l d l be clissatisficd with any ordcr, determination, or direction of the Court or the Com- missioner, in respect of a matter of fact or of law, or of the admission or rejection of any evidence, the person so dissatisfied |
Aped to be entered | may a p p d from the same to the sdid Supreme Court: Provided |
days. | twenty-one | that, if no such appeal shall bc cntercd withi11 twenty-ono days front the date of any ordcr, determination, or direction of the C'ourt or the Cornmissioner, and be thereafter duly prosecuted, every such |
Costs of appeal. | order, determination, or ciirection shall be final; and every appeal shall be subjcct to such regulation, in regard to security for costs, as shall, by any general rule or order, to be made in pursuance of " 'l'hc Insolvent Act, 1860," be directed, ancl until such rnle or order be made, subject to the direction of the said Sul)rcrne C'ourt in each particular case. |
Appeals to be in |
accordance with the | 6. All appeals from any order, determination, or ciirection of the |
Tulcs in force for time Court or Commissioner shall be brought on, and cortductcd in con- | being. |
formity to such kenem1 rules as shall for that purpose &m time to time be made by the Judges of the Supreme Court, or any two of' them, and until such general rules bc made in conformity with the direction of the Supreme Court in each particular case.
Power of Supreme | 7. | Tlle said Supreme Court, on the hearing of any such appeal, shall |
Court to resc~nd, | vary, |
reverse,
or confirm
ordcr of Court of h- | have power, to rescind, vary, reversc, or confirm any order, cleter- |
solvency or of Corn- | mination, or direction made by tlie Court of Insnl\~cncy, or by thc |
missioner, |
quire Court of lneol- |
s e n q to rehear | have powcr to give such decision in the matter appealcc1 from, as ought, | ||
in the opinion of the Supreme Court, to have been gi\-en by the C'o~wt ofInso1vcnr:y or the Coniinissioner (as the case nmy bc), and the said | |||
| |||
Power to order costs. | power to ordcr the costs of any appeal to bc paid by either party, or part tliercof by one party and part by another party, OX' of directing that the whole, or some part thereof, shall be paid out of the estate of the insolvent, in the matter of whose insolvency the appeal has bccn brought. |
PART | XI.-AS to arrangements between debtors and their creditors |
Arrangements by
by deed. | |
Deed under Division |
VI. of the Insolvent | 8, | to be made and executed, by a debtor, and to take cffect |
A C ~, |
in8olvcnv afterten under llivision VI. of "The Insolvcnt Act, 1860," shall, at any |
time
time after the expiration of ten days from the execution of such deed _ | p | ~ | ~ | ~ |
by the debtor, if wchr l c d has not, in the meantime, becn assentedto by rrquisitr m&-to by the rcquisitc majority of the creditors of such debtor, bc j''rlt~tt' mdiLors.
deemed to be an act of insolvency, and to have been corr1lnittc.d by
such debtor at the time of his esecnting such deed,
9. Notwithstanding any thing in " The I~isolvcnt Act, 1860'' ~ ~ ~ ~ ~ $ ~ ~ ~ $ ?; ~
contained, a deed for the bcllcfit of creditors made and executed, or ke executer1 under |
purportinp to be made and esecntcd, by n debtor, and to take cffcct ,,,,,, | provided by |
under Division VI. of | the said Act, shall, after the expiration of ten |
davs from Ilie execution thereof, be rid1 and void, unless such deed Insolvent |
d sllall be expressed to be made " in pursuance of 1)ivision VI. of tlie Insolvent Act, 1860;" ancl unless and until srlch dccd shall have becn cxccutcrl by the Y'mstcc or 'l'rustecs tlmeia namcd within tlic time, and attested in thc nmilner providcd by Section 173 of c c The Illsolvent Act, 1860," and shall hive bccrl assented to by the requisite majority of creditors, ancl unless such assents shall have been obtained within ten days from the execution thereof by the dchtor, and unless at the foot or cnd of thc sched1~1c.s rcquircd by the 1'74th Scction of
L The Illsolvent Act, 1860" there shall bc a declaration by thedebtor verifying the contents of such schedules, which decimation shall be in the form or to the effcct contailled in the Scheclule A to this Act anncxed.
10. Any debtor, having executed such deed as before | ulentioncd, |
who shall during the pcriod of tcn days from the execution thereof be arrested at the suit of any creditor by virtue of any process against the perbon of such debtor shall,
011 production of a pro- tcction order as providcd for by the said Insolvent.Act, I F G O, be freed from such arrest.
Notwithstanding any thing in the Insolvent Act, 18130, or this Act contained, it shall. not be l awfd for thc trustce or trustees | ment of trustees. |
11.
thcreof to realize, make sale, or |
of the debtor's property, except property of a pxishnblc nature, assigned by such cleccl, within the said period of ten days from the debtor's execution thereof, but such deed shall within silch period haw, and slmll be deemed to hare the eff'ect only of protecting the debtor's person (except as aforesaid) and the estate so assigned for thc said period of ten days, for the benefit of the creditors of such debtor, and if the requisite majority of creditors as hcrcinbcfore pro- vided shall have exccuted or assented to such deed, within thc period aloresaid, the same, or a like majority in number and value of the creditors of such debtor sllall have power at any time thereafter to substitute and appoint any other trustee or trustees in the place of the trustce or trustees appointed by such deed in the first in- stance, which substitution and appointment may be in form or to the effect contained in Schedule C to this Act, and such substitution and appointment shall, without any other conveyance or assignment, vest in the trustee or trustees therein named all and singular the pro- perty, of whatever kind or wheresoever situatc, of thc debtor having
executed
3s0 VICTORIB, No.3.
. - |
executed such deed in like manner as is provided by clause 179
of the Insolvent Act, 1860, and the trustee or trustees so substituted and appointed as aforesaid shall be liable, in all respects, to the pro- visions of this Act, and of the bbInsolvent Act, 1860,"
Lin the same manner as if such last-mentioned trustee or trustees had been appointed by the original deed.
' |
13. If, dwing thc period of ten days after the debtor's cxecutioli been assentcc1 to by the rcquisitc majority of creditors, the goods and chattels of such debtor shall be seized or sold by virtue of any sc- questration, execution, or other process, at the suit of any creditor, the sheriff or bailiff charged with the execution of such process shall, aftcr notice of such dced, retain the net proceeds of' such cxecution in his hands, or shall pay the same into the Court out of which such process shall have issued, and the creditor at whose suit such process shall have issued shall not be entitled to the proceeds thereof, or any | |
of such deed as before-mentioned, and before such deed shall have | |
And if a,,,aexecuba part thereof; until the expiration of the said period of ten days, when,
creditors, the procccds shall bc paid to the 'l'rustces of | such dced as |
Trus:ccs or be re-
such Trustees on summary application to thc Court in which the same has been paid, &l-on proof of the requisites in that behalf.
14. The Trustees of any such deed as before mentioned, having cxccutcd the same shall, lyithin fonrtecn days from thc cxecution of |
withinfourteent'3ys. such deed by the debtor, file with the Registrar of the Court ofInsolvency, a trnc copy of such deed, with the schedules and decla- rations thereto, ancl all assents and declarations relating thereto, which shall be open to public inspoction.
15. No creditor shall bc reckoned in the computation of the requi- |
site majority of assenting creditors, unless his assent to such deed
and declare as to
shall be evidenced bp his signature thereto, or by an assent $hereto | |
in writing uncier his hand, and unless sucli signature or assent be accompanied by a declaration made by such creditor, verifying the amount of his hebt, the nature of the securities or liens, if anv held for the same, and the estimated value of such securities or lie&, and the amount of any cross account or set off due from the creditor to the dcbtor, which declaration shall |
Provision as to part- the case, or to the like effect: Provided that any one partner ofa.
firm,
firm, and may make the dcclartttion by this section required to be
vcrifqing the several matters hcrcinb~fore | ~wpi red | to be veri- |
fied; and any agent, duly authorizecl in that bchalf, may s i p or assent to such deed on beldf of a creditor, and
m a y make the decla- ration, by this clause required to bc made, verifying the several mat- ta.5 hercinbefore revircrl to be \.crified; and such partner or agent&all, in such declaration, state that he is such partner or agent duly
authorized, as the case may bc, and such statcmcnt shall be made in such of .the forms contained in tl-rc said Schcdule R as shall be appli- cable to the case, or to thc liltc effect.
16. In the construction of this Act, and for all purposes connrctrd | ~ | ~ | ~ | ~ | t | ~ | ~ | ~ | ~ | $ |
therewith, the requisite mqority of creditors of any debtor shall be
fourths. held and deenlud to bc three-fourths in vsluc, and one half in nuin-
bcr, of such crcditors: Proridccl that evcry creditor in rcspect hereof
shall be accounted a creditor for value in respect of such amount only
as up011 a11 account fairly stated, after allowing the value of securities
or liens held by the crcditor, and the amount of any debt or set off
owing from such crcditor to tho debtor shall appear to be thc balance |
due to such creditor: Provided also, that no crcditor whose debt |
shall not amount to Five Pounds shall be reckoned in number, but | |
such dcbt shall be computed in value only. |
17. Any person stating himself in writing to be a creditor of | thc |
debtor executing such dced, as before mentioned, shall be entitled timea
personally, or by his attorney or agent, at all reasonable times on
application to the Trustees of such dced, or onc of them, thcir attorney,
or agent, or at the place where such decd may bc lying for inspection
and csccution, to inspect such deed and the schedules thereof, and
the assents of crcditors, and all declarations by, and accounts furnished
by creditors, and any boolrs, accounts, papers, or documents relating
to the estate and effects of thc debtor which may be in the custody,
control, possession, or power of the Trustees, and may make copies of
or take extracts therefrom, respectively.
18. Any creditor, whether he shall have assented tc such deed as |
aforesaid or not, may upon making affidavit that he suspects a debtor h |
having executed such deed as before mentioned has not fully disclosed |
the execution of such deed, made a fraudulent preference to any creditor, or that such debtor or any Trustee of such deed has con- cealccl, or is making away with, or improperly, or fraudulently deal- ing with the estate or effects of the debtor, or any part thereof, cause the debtor or Trustee, at any time after the execution of the deed by such debtor or Trustee, as the case may bc, to appear and bc exa- mined in the Insolvent Court before the Commissioner of Insolvency: | his estate and effects, or had, within two calendar months prior to | |
|
19. Every declaration by this Act authorized, directed, or required
~~~~~~~~~~p~;cti.
to be | made, shall be in writing, signed by the person making the |
same |
33" VICTORIB, No.3.
Insol,veni Further AmendmentAct, 1870. same, and may be taken and made by or before a practitioncr of the
Court, a Justice of the
Supreme Court, Justice of the Peace, or Clerk of the 1,ooal Court, | |
Local Court. | who, and each of whom, are hereby required and authorized to take the same and attest such declaration when made, and in and by such attestation it shall bc stated whcthcr the person taking thc same is |
Declarations to | of the Local Court, as the case may be, and every such declaration so |
made and taken shall in all Courts, and on all occasions, be deemed | |
F a h declaration | |
punishment | |
a misdemeanor, | 20. Any person who shall in any declaratim authorized, directed, or required by this Act, wilfully and corruptly state and declarc my- thing which shall be false, s l d l be guilty of a misdemeanor, and being convicted thereof shall be liable in all respects to the penalties and punishments by law provided for wilful and corrupt perjury. |
in perjury. | |
Debtor conccaliiing or | |
embezzling any of | 21. If any debtor, having executed such deed as before mentioned or who shall thereafter execute such deed, shall remove, conceal, or embezzle any part of his estate or effects to the value of Ten Pounds or upwards, or any books of account, papers, or writings relating thereto, with intent to defraud his creditors under such deed, every such debtor shall be decmcd guilty of a misdemeanor, and be liable to imprisonment, with or without hard labor, for any term not ex- ceeding three years. |
his estate, | |
Trustee concealing or | |
embezzling estate, | |
coedings, production |
of | con cl:^ |
thc production or proof of a dccd purporting or expressed to be made | |
withstanding any | in pursuttnce of Division VI. of " The Insolvent Act, 1860 ;" and |
alleged defect. | proof that the same was executed by the debtor shall be |
Forms in Schedule | |
may |
III. |
- " |
m*--As to proceedings to obtain Adjuclication of Insolvency: |
s l d l bc as f6llollows, that is to s~ | the single |
debt of such crcditor, or of two or more persons being purtnors so | Petitioning creditor's debt, single crcditor |
petitioning, s l d l amount to Twenty Pounds,. and the debt of two | (or two beicg part- |
crcilitors so petitioning shall amount to T h r t y Pounds, and the | ners), g20; two cre- |
ditors, | |
debt of three or more pcl-sons so petitioning shall amount to Fifty | morc, |
Foundp, and every person who has given credit upon valuable con- |
sideration for any sum payable at | |
not have arrived when the debtor coininittccl an act of insolvency, | Creditors holding |
may so pctition, or join in petitioning, wlwtllrr hc sllull have held | may join in petition- |
any security in wi t ing for sarh sum or not. | ing. |
Not to affect |
26. ~ o t l h g | in this Act contained s l d l extend to or a f k t m y |
appeal from the Court of Insolvency now pending or any proceedings instituted or pending in the Court of Insolvency, or any deed exe- cutcd by any debtor, prior to the coming in forcc of this Act.
Act maybe amended
27. This Act may be altered, amendcd, or repealed by any Act passed in thc prcscnt Session of P 1' | during present |
ar lament. |
In the namc and on behalf of the Queen I hereby assent to
this
Act. JAhiIES FERGUSSON, Governor.
SCHEDULES |
SCHEDULES EEE'ERRED TO.
[Norr~.--The figlres in brackets in thc cliffcrcnt fwmv rclcr to I11c ilircctionr at fou: | there02 |
rcspcctively .]
" | Insolvent Further Ameodnient Act, 1870." |
SOUTH AUSTRALIA, In the matter of the deed hereto annexed, made in pursuance
1 | of Ilivision vr. of | The Insolvent Act, 1860," | whereby |
[ l 3 | conveys and assigns his estatc and tffccts to | L21 | as |
Trustee, for the l-enefit of his crcrlitors, which deed is dated the | PI | day |
re7 | , |
C 1 l | of | P1 | hereby declare as follows, that is to say :- |
l, The foregoing schedule | C51 | contains a true and particul,~r | accour~t |
of all the property (escept cer4ain articles of houeeholcl furniture, wearing apparel, a n d like necessaries of rny~elf a i ~ d my family, ar are hereunder specified, and as I claim to retain) of which
1 am possessed, or of which any person or persons in trust for me is or are possessed, or to which I, or any such person or persons on my behalf, am, is, or are entitled legally or equitably in possession, reversion, or expectancy, so far as I arn able to set forth the same, and in all respects to thc best ofmy knowledge, or means of knowledge, infolmation, or belicf.
C51 | contains the names of my scvcral |
creditors, and the amounts respectively due to such creditors, to the best of my
knowlec?ge, or means of knowledge, information, or belief.
[6] |
4. Such excepted articles, as mentioned in the last paragraph hereof, do not exceed i n value the sum of Thirty Pounds.
Cl01
Declared at | L71 | this | P1 | day of | , |
before mc, | t91 | of the said Province. | W |
The blanks are to be filled up | :- |
l. Name of debtor. | '7. Place where declaration tnkcn. | ||
8. Datc when declaration taken. | |||
3, Date of deed. |
|
4. Residence and occupation of debtor. | the Peace, or Clerk of Local Court, as the |
ref~.rcccc, to | case |
identify schedule referred to. | 10. Signature of debtor declaring. |
11. Signature of person taking declaration. |
" Insolvent Further Amendment
Act, 1870."
SOUTH | I n the matter of t h ~ | deed made in pursuance of Division vr. of |
) | " The Insolvent | P1 | o |
C23 | conveys and assigns his estate and effects to | a s |
day |
187. |
33" VICTORIAE,No. 3.
Insolvent Ful-ther Amendment Act, 1870.
of | P I | hereby declare as follows, that is to s a j :- |
l. I am a cscditor uron the estate of the above-named debtor, | [l1 |
claim to assent to t h e above-mentioned deed.
[7] |
being fur | CS] |
c91 | -- - |
Deciared | Cl01 | this | [l1] | day of | 187 |
before me, the undersigned, | Ll21 | of the said Province, |
C131
~ ) f c h ~ a l i s ? a |
I n ~ o l w n t | Further Amendment Act, 1870." |
] | of " | wheieby | r1] | of |
conveys and assigns his estate and effects to | as |
Tlustccs for the benefit of his creditors, nhich deed is dated thc | PI | c31 |
|
of | 1870. |
P1 | of | hereby declare as follows, tha t is to say :- |
I. I an1 a creditcr upon the estate of the above-named debtor | P1 | and |
claim to assent to the above-mentioned deed.
being for | 181 |
or liens of any kind or description hold by me for a l l or m y |
portion of the amount clue to me from the said debtor, and the natures of such sccul;ties or litns so held by me, aecl the value thereof respectively, a lc a s fblloms,
that | to say | cl5] |
4. 1 am not indebted to the estate of the said debtor in any
sum of mcincy what.
cl61 | being for | [W |
5. I am cntitled to account, as a crcditor, fur value on the estate of the said
dcbtar in respect of the sum of | account fairly stated, and allowing the d u e of the securities and liens so held by |
n-c as aforesaid, and all sunls of money owing by me to the cslate of t t e baid debtor, | |
is the balance due to me in respect thereof. |
Dcclared a t | c | l ('1 | this | [l1] | day of | 187 | , before |
n.e :he undersigned a | L121 | . | of the said Province. |
--+ | C131 |
it' |
In the case of the cXrclnrant heing a partner, the f o ~ m | must be altercd accordingly, |
acd the declarant must declare that h e is such p a r t ~ c r, | and the ful l names and residences |
~f other mcrnhcrs of the film. |
In the czse of tElc declarant being an agent, the form must bc altered accordingly,
and the dcclarant must insert a t the com~llencement | |
additional paragraph thereof :- |
l. I am an agent for [insert | of creditor] a creditor |
upon the estate of thc hbi~ycnanled debtor, and am duly authorizcd by the said
c ieclitor to execute tho above-mentioned deed.
F l l l e t h k s in the above forms arc to bc filled up a3 follows:
I |
and occupation of debtcr. | of thc: Peacc, or Clcrk of I hc Lvcal Court, |
as the case may be. |
13. Signature of pcrscn taking declaration. | |
6. Same |
tidcnce and occupation of declarant. | ing for securities or contra account. |
wl~cro | no security or | 15. Particulars of securities |
c( ntra | account. | particulars |
Partif d a r s in respect | of | which a l ~ o u n t | ia | 16. Amount of contra account |
c~tditor. |
S1prttvre of | declarant. | 18. Balance in respect of which creditor clainls |
P h e | against the estatc. |
taken. |
C.
l3
Insolvent Pur thm Amendment Act, 1870.
This indenture made the | day of | , 187 | , | between the scveral per- |
sons and bodies corporate, whose names and seals are subscribed and set at the foot hereof, being severally creditors in their own right, or i n copartnership, or being agents or attorneys of creditors of the within-named (hereinafter called the said parties hereto of the first part), of the one part, and of ?
of the other part: | Whereas the |
appointing | to be trustee or trustees of | in the place of |
under indenture of assignment, bearing date the day of: Now this indenture mitnesseth, that in exercise of the power for this purpose bp the "Insolrent Amend. ment Act, 1870" given to the said parties hereto of the first part, and of every other power in anywise enabling them in that behalf, they, the said parties hereto of the first part, do hereby substitute and appoint the said to be a trustee (or trustees,
as the cast! may be), in the place of | the said | , for the purposes of the said |
recited indenture. | In witness, &c. |
Signed, scaled, &c.
,.. | - | ------P-- |
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Printer, North-torrwe. |
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