Insolvent Acts Amendment Act 1857 No 20a (NSW)

No. XXIV.

An Act to amend so much of the Insolvent Acts

now in force as relates to directions of

Creditors to Assignees, [11th March, 1857.]

a n d seventh years of t h e reign of H e r present Majesty t he grea ter p a r t	WE R E A S passed by the la te Legis la ture of th i s Colony in t h e fifth and
in n u m b e r and value of t he Creditors of Inso lvents whose estates have been placed u n d e r sequest ra t ion assembled a t meet ings as there in men t ioned are empowered to give directions to t he Assignees of such estates concern ing the m a n a g e m e n t and collection or sale of any pa r t
of t h e es ta te and as to al lowing t h e Inso lven t t o re ta in for h is own
use t h e wear ing appare l bedding tools of t r ade and household furni ture of himself a n d his family and such Assignees arc bound to pu r sue the direct ions so given A n d whereas t he power so as aforesaid conferred
is l iable to abuse a n d i t is expedient t h a t such fur ther provision as is
here in conta ined should be made in reference the re to Be i t therefore enacted by the Queen ' s Most Exce l len t Majes ty by a n d wi th t he advice and consent of t he Legislat ive Council and Legislat ive Assembly of New Sou th W a l e s in Pa r l i amen t assembled and by t h e au thor i ty of t h e same as follows :—
1. N o such directions as aforesaid shall be b ind ing or take effect unless and un t i l t h e same shall bo ratified by the Chief Com­ missioner of Inso lven t Es ta tes who shall hear t he Assignees and all par t ies in teres ted who m a y desire to be heard before h im in re la t ion to a n y such direct ions and if of opinion t h a t i t is desirable for the genera l in teres ts of t h e estate in which such directions are given or fair reasonable and proper t h a t t h e same should be pu r sued t h e n and not otherwise he shall ratify t h e same Provided tha t any Assignee or pa r ty in te res ted who shall be dissatisfied wi th the decision of such Commissioner as to rat i fying or refusing to ratify any such directions m a y appeal from such decision to any J u d g e of t h e Supreme Cour t whose ratification shall be sufficient for t he purposes of th is section
a n d whose decision in t h e m a t t e r shall be final.
2. I t shal l be lawful for such J u d g e as p a r t of his decision to a w a r d costs in t h e m a t t e r of such appeal to be paid out, of t he estate or to direct by and to w h o m such costs shall be paid and to enforce every such direction by a t t a c h m e n t in l ike m a n n e r as m i g h t be done
by t h e Court .

u n d e r t h e Acts in re la t ion to Insolvency respectively

No . X X V .