CO129-088 - Acting Governor Mercer - 1862 [10-12] — Page 404

24.

402

confessedly inadequate Machinery suitable to its purpose and is for

it goes sufficient.

as

I and come consultations with the chief Justice was did not disapsion

view to adopt the

provisions of the Insolvent Roinance to the Colonial

of my

requirements.

I have endeavoured to effect my

of exserting the bucolient Insolvent

contined object of expanding

Binance to

the

present necessities

F the Polony by a series of declarations that certain specified acts shall constitute acts of duolvency there being the identient nets and in the world

Bankrupt act which constitute acts " Munkruptey in England.

f

the

All

§§ 1 to 5 and $§ 64 15.

کو

Prese dances of themselves

will as I expect meet all the evils, o which the commercial public in this Colony have complained, and will in all proper cases secure the property of Sebtor on quat bistribution among Cretitions generally.

The next set

clauses

of a

This

$$16

to 24 sketch out the mode of procedure

the

to constitute insolvency and to bring the debtor within the scope of insolvent Law without imprisonment.

The dances 25-26 direct the

nature

of procedure after adjudication whilet & 27 authorizes creditors to proceed otherwise than in Insolvency