26325
233
(Copy)
Grounds and reasons for passing Ordinance No 5 of 1864 intituled "An Ordinance to amend the Law of Debtor and Creditor."
By section 4 of Ordinance No 6 of 1845 the Laws of England, except when the same should be inapplicable to the local circumstances of the Colony, were declared to be in force here, but the Bankrupt Laws have never been held as applicable, and from the first a Local Insolvent Law, by which alone a Debtor's effects could be divided among his creditors, has been the only means.