ACT AN FOR RELIEF OF DEBTORS AND FOR THE BETTER SECURITY OF CREDITORS.

Hawke's Bay Times, Volume II, Issue 74, 27 November 1862, Page 6 (Supplement)

ACT AN FOR RELIEF OF DEBTORS AND FOR THE BETTER SECURITY OF CREDITORS.

(Continued from; our iast.) Court may employ and pay Officers. XXXVIII. For the purpose of carrying into execution the provisions of this Act the Court shall have power to employ from time to time Receivers Agents Clerks and accountants and may allow the Mercantile Assessors to employ Clerks and Accountants and may incur other reasonable costs and expenses incidental to the carrying into execution the provisions of this Act. Insolvent Estates Fund constituted. XXXIX. For the purpose of forming a fund for payment of costs and expenses under this Act there shall bepaid out of every estate brought under Administration through the provisions of this Act a sum of one shilling in the pound to be computed upon the gross amount of all monies recovered and received from such estate and elects which money shall be paid in to the Supremo Court to the credit of a fund to bo called “The Insolvent Estates Fund.” Mode of accounting therefor. XL. All payments authorized by the Court to be made under this Act shall be paid out of “The Insolvent Estates Fund” or if there shall bo no monies applicable from such Fund then by the Colonial Treasurer upon an order of the Court to that eil’ect out of the General Revenue of the Colony by way of advance to such fund and to be repaid when and as the state of such fund shall admit by an order of the Court upon application of the Colonial Treasurer. Offences incurring refusal of relief XLT. If any person shall have been guilty of any of the following acts deeds neglects or defaults that is to say if he shall have contracted any of his debts fraudulently or by means of a breach of trust or by means of false pretence's or without having had any reasonable or probable expectation at the time when contracted of paying the same or shall have fraudulently or by means of false pretences obtained the forbearance of any such debts by any of his Creditors or shall have put any of his Creditors to unnecessary cxpence by any vexatious or frivolous defence or delay to auy suit for recovering any such debts or be imprisoned or liable for damages recovered in any action for criminal conversation seduction or breach of promise of marriage or for damages recovered in any action for a malicious prosecution or for libel or for slander or in any other action for a malicious injury or shall have falscfierl auy books of accounts or being a trader shall have conducted bis business or kept his accounts with gross negligence or who shall have fraudulently concealed or misrepresented the state of his affairs or (with intent to diminish his means of paying and satisfying his Creditors or any of them) shall have fraudulently discharged or concealed auy debt due or growing due to him or to any person in trust for him or made away with or assigned transferred charged delivered or made over any of his estate or ellects before or after the commencement of his imprisonment or shall have been guilty of any fraud or misconduct- whatsoever in reference to the management or disposition of his estate or the contracting of any unsatisfied debts liabilities or engagements lie shall not bo entitled to relief under tliis Act until after the expiration of such time as the Court may order not exceeding one year from the date of his first imprisonment. Certain offences declared Misdemeanors. XHt. From and after the passing of this Act any Debtor who shall become subject to the provisions of this Act and who shall do any of the acts or things following with intent to defraud or defeat the rights of his Creditors shall be guilty of a misdemeanor and shall bo liable at the discretion of the Court before which he shall be convicted to punishment by imprisonment for not more than three years or to any greater punishment attaching to the olfenco by any existing law : 1. If he shall not upon the service of any Rule calling upon him to appear before the Supreme Court having no lawful impediment allowed by the Court appear before such Court according to such Rule and submit to he examined from time to time. 2. If he shall not upon his examination fully and truly discover to the best of his knowledge and belief all his property real and personal inclusive of his rights and credits and all other particulars required to be disclosed by the provisions of this Act. 3. If within two months previous to the service of sncli Rule he shall with intent to defraud his Creditors remove conceal or embezzle any part of his property to the value of ten pounds Oi‘ upwards. 4. If in case of any person having to his knowledge or belief proved a false debt under proceedings taken under this Act he shall fail to disclose the same to the Court or to a Trustee or other person appointed to manage the estate within one month after the same coming (o ibis knowledge or belief. 5. IT he shall with intent to defraud wilfully and fraudulently omit from his Petition «r any oiFect? or property soever 6. If he shall after the Petition is presented

with intent to conceal the state of his affairs or to defeat the object of this law conceal prevent or withhold the production of any book deed paper or writing relating to his property dealings or affairs. 7. It he shall after the Petition is presented or within three months next before with intent to conceal the state ot his affairs or to defeat the objects of the law part with conceal destroy alter mutilate or falsify or cause to bo concealed destroyed altered mutilated or falsified any book paper writing or security or document relating to his property trade dealings or affairs or make or bo privv to the making of any false or fraudulent entry or statement in or omission from any book paper document or writing relatin'' thereto. ° 8. If within the like time he shall knowing that he is at the time unable to meet his engagements fraudulently and with intent to diminish the sum to be divided amongst the general body of his Creditors have made away witn mortgaged encumbered or charged any'part of his property of what kind soever or if lie shall conceal from the Court or from tno .Trustee or person concerned in the management of the Estate any debt due to or from him. 9. 11 he shall either to the Court or at any meeting ot his Creditors within three months next preceding the presentation of the Petition have attempted to account for any of liis property by fictitious losses or expenses. 10. If he shall within three months next before the presentation of the Petition under the false color and pretence of carrying on bu siness and dealing in the ordinary course of trade have obtained on credit from any person any goods or chattels with intent to defraud. 11 If he shall with intent to defraud his Creditors within three months next before the presentation of the Petition have pawned pledged or disposed of otherwise than by bond fide transactions in the ordinary way of his trade anj' of his goods or chattels which have been obtained on credit and remain unpaid for. Act not to extend to Crown Debts fir. XLII. This Act shall not extend to discharge any Debtor with respect to any debt duo to Her Majesty or Her Successors or to any debt or penalty witli which he shall stand charged at the suit of the Crown or of any person for any offence committed against any Act or ordinance in force within this Colony relative to any branch of tho Public Revenue or at the suit of any Sheriff or other Public Oiiieer upon any Bail Bond entered into for the appearance of any person prosecuted lor any such offence unless His Excellency the Governor shall certify under his hand his consent that such person may apply to take the benefit of this Act. Court to make Tttiles of Procedure. XI.IV. The Judges of tho Court shall from time to time make Rules and Orders for ascertaining tlie amounts and value of all claims of Creditors under this Act for the purposes of this Act and otherwise for regulating proceedings under this Act and may from time to time alter and rescind the same. Rides to be Published. XLV. Xotice of such Rules and Orders of all alterations and rescindings thereof shall be published in the Government Gazette of the Colony. Trustees and others declared. Officers of Court. XLVI. All Trustees Receivers Agents Accountants and other persons from time to time acting under or in execution of tho provisions of this Act or any Conveyance and Assignment made in pursuance thereof shall for the time they shall so act and so far as they shall so act be deemed to be Officers of the Court and shall be subject to and shall obey such orders as the Court shall from time to time make. Court to settle Fees. XTjTII. The Judges of tho Supreme Court shall settle and may from time to time alter a Table of Pees to be paid by Petitioners Creditors and other persons and a scale of allowances to Witncsscss and other allowances in respect of proceedings under this Act which Table of Fees and Allowances and all alterations thereof being allowed by the Governor in Council shall be payable accordingly. Judge, may delegate -powers. XLVI IF. The Judge of the Supreme Court in any District may by an Instrument under his hand to be registered in tho Registry of the Supremo Court for such District delegate to any person qualified as hereinafter mentioned tho powers hereby created of exercising tho jurisdiction, and functions of the Supreme Court under this Act and the person io whom such Delegation shall be made max’ exorcise such Jurisdiction accordingly as effectually as a Judge of the Supreme Court. lf r ho maj/ hold delegation. XLIX. The person to whom such Delegation shall bo made shall bo a Barrister or Solicitor of the Supreme Court, who-have practised in the Superior Courts at Westminister or in the Supreme Court of Xow Zealand for the period of three years before such Delegation or a Resident Magistrate who shall have performed the duties of Resident Magistrate for three years at least. Duration of Delegation. L. Xo such Delegation of powers shall continue in force for any longer period than one year. Delegation subject to Governor's approval. LI. Xo such Delegation shall bo of any forco or effect until the same shall have been approved of by the Governor in Council and shall have Interpretation. LTI. The term “Court” in this Act shall mean the Supreme Court of the Colony exercising Jurisdiction in a separate District The term “Creditor” shall mean also any two or more persons being partners and Incorporated and Joint Stock Companies. Com mencement of Act. LIU. Tins Act shall not como into operation unfit n rtnn in tin Itvort by fbe Governor hv Proclamation to be published in the Government Gazette.