178
THE HONGKONG GOVERNMENT GAZETTE, 30TH APRIL, 1864.
Official Assignee to
Creditors' Assignee.
CLIX. Where the Creditors' Assignee has obtained his certificate, the Official act after discharge of Assignee shall, as to any estate and effects of the Bankrupt not realised at the date of such certificate, and as to all debts then remaining uncollected, and which shall not have been sold in manner herein provided, and as to any future acquired property of the Bankrupt, if made liable to the Creditors under the conditions of discharge, re- present the estate in all respects as the sole Assignee thereof, and shall have and exercise all the rights, duties, powers and authorities, conferred by this Ordinance upon Official and Creditors' Assignees.
One partner may
CLX. In all joint petitions for adjudication under which any partner shall have receive allowance al obtained his discharge, if a sufficient dividend shall have been paid upon the joint estate and upon the separate estate of such partner, he shall be entitled to his allowance, although the other partner may not be entitled to any allowance.
though other not enti- tled.
If produce of estate
surplus, such surplus
interest on debts.
CLXI. If the produce of the estate of any Bankrupt shall be sufficient to pay pay in full and leave in full, and interest as hereinafter mentioned, and to leave a surplus, the Court may to be paid to Bank-order such surplus to be paid to such Bankrupt, his executors, administrators or as- rupt after payment of signs; and every such Bankrupt shall be entitled to recover the remainder if any of
the Debts due to him; but such surplus shall not be paid until all the Creditors who have proved, shall have received interest upon their debts to be calculated and paid at the rate and in the order following; viz: all Creditors whose debts are by law entitled to carry interest in the event of a surplus, shall first receive interest on such debts at the rate of interest reserved or by law payable or provable thereon, to be calculated from the date of the filing of the petition for adjudication; and after such interest shall have been paid: all other Creditors who have proved shall receive interest on their debt from the date of such petition at the rate of Twelve per centum per annum.
After three months conveyance of all Debtors property not
As to trust deeds for the benefit of Creditors.
CLXII. If any person shall execute any conveyance or assignment by deed of all his estate and effects to a trustee or trustees for the benefit of all the Creditors of such an act of Bankruptcy, person, the execution of such deed shall not be deemed an act of bankruptcy unless a provided certain for-petition for adjudication be filed within three months from the exccution thereof, pro- vided that the conditions which are herein ordained to be observed with regard to every deed or instrument made or entered into between a Debtor and his Creditors or any of them as trustee for the rest or a trustee on their behalf, have been observed in any such conveyance or assignment by deed.
malities are complied with.
What deeds to be
conditions.
CLXIII. Every deed or instrument made or entered into between a Debtor and his valid and upon what Creditors or any of them, as trustees for the rest, or a trustee on their behalf, relating to the debts or liabilities of the debtor, and his release therefrom, or the distribution, inspection, management, and winding up of his estate, or any of such matters, shall be as valid and effectual and binding on all the Creditors of such Debtor as if they were parties to, and had duly executed the same, provided the following conditions be observed; that is to say :--
1. If such deed provides for the conveyance of the estate of the debtor other than and except such portion thereof as shall not exceed in value the sum of One Hundred Dollars:
2. If a majority in number, representing three-fourths in value, of the Creditors of such Debtor whose debts shall respectively amount to Fifty Dollars and upwards shall, before or after the execution thereof by the Debtor in writing assent to or ap-
of such deed or instrument:
prove
3. If the trustee or trustees shall execute the same:
4. If the execution of such deed or instrument by the Debtor shall be attested by a Barrister-at-law, an Attorney, or a Solicitor:
5. If within twenty-eight days from the day of the execution of such deed or instrument by the Debtor the same shall be produced and left at the Office of the Re- gistrar for the purpose of being registered:
6. If together with such deed or instrument there shall be delivered into the said Office an affidavit by the Debtor or some person able to depose thereto, or a certificate by the trustee or trustees, that a majority in number, representing three-fourths in value of the Creditors of the Debtor, whose debts amount to Fifty Dollars or upwards