CO129-088 - Acting Governor Mercer - 1862 [10-12] — Page 397

10.

11.

395

arrangement for winding up a debtor's estate on all

provided by the English Bankruptcy

the Creditors as

Act.

Indly A power in the bourt to discharge any Insolvent debtors after acquired property from

the debts under his Insolvency as if in

Bankrupter,

instead

of

the present system by

which the after acquired property of

even an

honest

debtor remains liable to his creditors debts. These

clauses would

sufficiently assimilate

laws to the English Bantrapley.

Our

Insolvency

Laivo

for

all

practical purposes, whilst it would leave in operation system of procedure which has not worked badly in this bolony for many years- and will save

the leolony from experimentalising in a new System of procedure which with all its - improvements is still unsettled in England.

Mr Mbacandrews letter proposes the-

recognition of the protection given to the Insolvent

by this bourt in Great Britain and in the other Colonies and dependencies of the Crown, this

may be a proper subject for an appeal to Imperial Legislation, but it is beyond the scope of a Colonial

owever the Bankrupt Act 1861

Ordinance. Ho

by Sections 75 and 218 enables either the breditors or Insolvency here the foundation

debtor to make an

and so

to

give to both

for a bankrupter in England at no great extra expence the benefit sought.

Another object suggested is the extension of Bankruptcy or improved Insolvency procedure to the Consular ports of China - This is a subject which has

heen discussed

by

me.

with

Moore

than one

of the

Consuls- and I propose as Counsel to the Chinese

Embassy to forward a Draft of the bill which I am