THE HONGKONG GOVERNMENT GAZETTE, 30TH APRIL, 1864.
ments of vessels.
169
and disposed of for the benefit of the creditors under the Bankruptcy: Provided that Proviso for assign- nothing herein contained shall invalidate or affect any transfer or assignment of any ship or vessels, or any share thereof, made as a security for any debt or debts either by way of mortgage or assignment, duly registered according to the provisions of any Act of the Imperial Parliament now or hereafter in force relating to the registering of British Vessels.
any
Power of Court over certain conveyances,
XCVIII. If any Bankrupt being at the time insolvent, shall (except upon the mar- riage of
of his children or for some valuable consideration) have conveyed, assigned, &c., made by Bank- or transferred to any person any hereditaments, offices fees, annuities, leases, goods, or rupt. chattels, or have delivered or made over to any person any bills, bonds, notes, or other securities or have transferred his debts to any other person or into any other person's name, the Court may order the same to be sold and disposed of for the benefit of the creditors under the Bankruptcy, and every such sale shall be valid against the Bankrupt and such persons and all persons claiming under him.
XCIX. If any Bankrupt shall have any Government funds or stock of any public. Where Bankrupt Company standing in his name or in his own right, the Court may by writing order all beneficially entitled to stock, Court may make persons whose act or consent is thereto necessary to transfer the same into the name of order for transfer. the Assignees, and to pay all dividends upon the same to the Official Assignee; and all such persons whose act or consent is so necessary are hereby indemnified from all things done or permitted pursuant to such order.
one year's rent due.
C. No distress for rent made and levied after an act of Bankruptcy upon the Distress not to he goods and effects of any Bankrupt whether before or after the filing of the petition for available for more than adjudication, shall be available for more than one year's rent, accrued prior to the day of the filing of such petition: but the landlord or persons to whom the rent shall be The Landlord to prove due shall be allowed to come in as a creditor for the overplus of the rent due, and for for the residue. which the distress shall not be available.
as to the disposal of property in certain
CI. In any case where any person, against whom an adjudication may have been Discretion in Court made under this Ordinance, may be entitled to any annuity for his own life, or other uncertain interest, or to any reversionary or contingent interest, or to property under cases. such circumstances that the immediate sale thereof for payment of his debts may be very prejudicial to him and deprive him of the means of subsistence which he might otherwise have after payment of his debts, and it may be proper to authorize the raising of money by way of mortgage for payment of the debts, or part of the debts of such person, instead of selling the property of such person for that purpose, the Court may take into consideration all circumstances affecting the property of any such person; and if it shall appear to the Court that it would be reasonable to make any special order touching the same, the Court may do so, and direct that such property as it may be expedient not to sell, or not to sell immediately, according to the provisions of this Ordinance, shall not be sold, and may from time to time direct in what manner such property shall be managed for the benefit of the creditors of such person, until the same can be pro- perly sold, or until payment of all such creditors, according to the provisions of this Ordinance, shall have been made, and may make all such orders touching the sale or disposition of such property as the Court shall see fit, considering the rights of the creditors and the future benefit of such person after payment of his debts, and upon such terms and conditions with respect to the allowance of interest on debts not bearing interest or other circumstances, as the Court shall see fit; and if it shall appear to the Court that the debts of such person can be discharged by means of money raised by way of mortgage on any property of such person, instead of raising the same by sale, the Court may so order, and may give all necessary directions for such purpose, and generally direct all things which may be proper for the discharge of the debts of such person, in such manner as may be most consistent with the interests of such person in any surplus of his effects after payment of such debts; and in every such case the discharge of such Bankrupt shall not be held to discharge him or his estate from any debt secured by him by way of mortgage or otherwise under this Section.
may order conveyance
CII. If any Bankrupt shall as trustee be seized, possessed of or entitled to either Where Bankrupt is alone or jointly, any real or personal estate, or any interest secured upon or arising out a trustee the Court of the same, or shall have standing in his name as trustee, either alone or jointly, any or assignment to an- Government stock, funds, or annuities, or any of the stock of any public Company, the other trustee, Court on petition of the person entitled in possession to the receipt of the rents, issues, and profits, dividends, interest, or produce thereof, on due notice given to all other persons, (if any) interested therein, may order the Assignees, and all persons whose act and consent thereto is necessary, to convey assign or transfer the said estate, interest,