610 ORDINANCE No. 5 of 1864 .
Bankruptcy and Insolvency.
Where bank
rupt benefi 99. If any bankrupt shall have any Government funds or stock of
ciallyentitled any public company standing in his name or in his own right, the Court
to stock,
Court may
may by writing order all persons whose act or consent is thereto neces
make order
for transfer. sary to transfer the same into the name of 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 er.
Distress not 100. No distress for rent made and levied after an act of bank
to be avail
able for more ruptcy upon the goods and effects of any bankrupt whether before or
than one
year's rent after the filing of the petition for adjudication , shall be available for more
due.
than one year's rent, accrued prior to the day of the filing of such
The landlord petition : but the landlord or persons to whom the rent shall be due shall
to prove for
the residue. be allowed to come in as a creditor for the overplus of the rent due, and
for which the distress shall not be available.
Discretion in
Court as to 101. In any case where any person , against whom an adjudication
the disposal may have been made under this Ordinance, may be entitled to any annu
of property
in certain ity for his own life, or other uncertain interest, or to any reversionary
cases.
or contingent interest, or to property under 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 pro
visions 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 properly 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 , con
sidering 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