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"the 19th sections of the Bankruptcy Act, "1861, although in practice performed by the
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same officer, are distinct, and have different operations; and where, for the want of the papers required by the orders, registration "under the former section had been refused by "the officer, and the applicant had registered
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the deed under the 194th section: Held, that "the registration did not prevent the deed, "which was an assignment of all the debtor's "property, from being an Act of bankruptcy." It should be here observed that the 192ad, 193rd, and 194th sections of the Act of 1861 correspond respectively with the 163rd, 164th, and 165th sections of the Bankruptcy Ordinance of Hong Kong. In the course of his judgment Lord Westbury observes:-"The protection "intended by the statute to be given to a dced "under the 192nd section was a protection
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extending only to such deeds as should bo
duly registered in the manner and form
required by that section and the 193rd, which
" is consequent thereon. The immediate ques-
Ya
tion which I have to determine is, whether the "deed before me is a deed which has been so registered." Then he says:-"To determine "that question it is necessary to observe, that "in addition to the registration prescribed by the * 192nd and 193rd sections, it appeared to the Legislature expedient to require another form "of registration for deeds which did not exactly comply with the requirements of the 192nd "section, and accordingly the 194th section "gives the power and imposes the obligation "of registering any deed of composition or deed "for the benefit of creditors, which has not been registered under the 192nd section in the "Court of Bankruptcy; and the words are "material. A deed under the 192nd section is to be registered by the deed being brought
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"into the office of the Chief Registrar, and the "solemnities attending its registration are clearly "defined. A deed under the 194th section is "directed to be registered simply in the Court "of Bankruptey. For convenience sake, by a general order, I have given both forms of registration to the same officer and to the same office; but the registration under the one section is very different from the registra- "tion under the other section. The 194th "section was introduced with a double view.
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First, because it was apprehended that many "deeds of composition might still be made "which would not be brought under the 192nd "section, and which might have an injurious "effect by reason of their being secret deeds of arrangement. The obligation, therefore, was imposed upon all persons, parties to such a "deed, of bringing it in to be registered within twenty-eight days after its approval in the "Court of Bankruptcy, and a penalty is attached "in case of default, that the deed shall not be "receivable in evidence. Another object of the "enactment was this,-it was felt that possibly
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many a deed of composition might not be
I perfected in the manner required by the
« 192nd section within the twenty-eight days,
" and yet that all the creditors might be willing "to accede to such a deed; and, therefore, power
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** was given to register, under the 194th section, a deed which did not exactly comply with the "requirements of the 192nd section." Then he goes on to say:-"Those two forms of registra- tion, therefore, being very different, the con- sequences of the one form do not attach to "the other. The consequence of an observance "in every respect of the terms of the 192nd "section is that the deed is binding on the "minority of the creditors who do not execute or assent to it. No such consequence is
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42517.
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