BANKRUPTCY.
No. 7 of 1891.
605
Effect of bankruptcy on antecedent transactions.
execution
c. 52, s. 45.
38.(1) Where a creditor has issued execution against the property of a debtor, he shall not be entitled to retain the benefit of the execution against the trustee in bankruptcy of the debtor, unless he has completed the execution before the date of the receiving order and before notice of the presentation of any bankruptcy petition by or against the debtor or of the commission of any available act of bankruptcy by the debtor.
(2) For the purposes of this Ordinance, an execution shall be deemed to be completed----
(a) in the case of goods, chattels, or other movable property in the possession of the debtor or of negotiable instruments, by seizure and sale;
(b) in the case of goods, chattels, or other movable property to which the debtor is entitled subject to a lien or right of some person to the immediate possession thereof, by attachment by prohibitory order and sale;
(c) in the case of lands, houses, or other immovable property or any interest therein, either at law or in equity, by attachment by prohibitory order and due registration thereof in the Land Office;
(d) in the case of an attachment of a debt not being a negotiable instrument, by receipt of the debt;
(e) in the case of shares in any public company or corporation, by attachment by prohibitory order;
(f) in the case of property in the custody or under the control of any public officer in his official capacity or in custodia legis, by attachment by prohibitory order duly obtained and served; and
(g) in the case of any equitable interest in lands, houses, or other immovable property, by the appointment of a receiver or manager.
46 & 47 Vict. c. 52, s. 46.
39.-(1) Where the goods of a debtor are taken in execution, and before the sale thereof notice is served on the bailiff that a receiving order has been made against the debtor, the bailiff shall, on request, deliver the goods to the Official Receiver or trustee under the order, but the costs of the execution shall be a charge on the goods so delivered,