182909-1931-Supplementary-Bills-read-a-first-time--Bankruptcy — Page 29

Provisions

as to second bankruptcy.

16 & 17 Geo 5, c. 7, s. 3.

Restriction

of rights of creditor under execution

510

44.-(1) Where a second or subsequent receiving order is made against a bankrupt, or where an order is made for the administration in bankruptcy of the estate of a deceased bankrupt, then for the purposes of any proceedings consequent upon any such order, the trustee in the last preceding bankruptcy shall be deemed to be a creditor in respect of any unsatisfied balance of the debts provable against the property of the bankrupt in that bankruptcy.

(2) In the event of a second or subsequent receiving order made against a bankrupt being followed by an order adjudging him bankrupt, or in the event of an order being made for the administration in bank- ruptcy of the estate of a deceased bankrupt, any property acquired by him since he was last adjudged bankrupt, which at the date when the subsequent petition was presented had not been distributed amongst the creditors in such last preceding bank- ruptcy, shall subject to any disposition thereof made by the Official Receiver or trustee in that bankruptcy, without knowledge of the presentation of the sub- sequent petition, and subject to the provisions of section 52, vest in the trustee in the subsequent bank- ruptcy or administration in bankruptcy as the case may be.

(3) Where the trustee in any bankruptcy receives notice of a subsequent petition in bankruptcy against the bankrupt or after his decease of a petition for the administration of his estate in bankruptcy, the trustee shall hold any property then in his possession which has been acquired by the bankrupt since he was adjudged bankrupt until the subsequent petition has been disposed of, and, if on the subsequent peti- tion an order of adjudication or an order for the administration of the estate in bankruptcy is made, he shall transfer all such property or the proceeds thereof (after deducting his costs and expenses) to the trustee in the subsequent bankruptcy or adminis- tration in bankruptcy, as the case may be.

Effect of Bankruptcy on antecedent and other Transactions.

45.-(1) Where a creditor has issued execution against the property of a debtor, or has attached any debt due to him, he shall not be entitled to retain the benefit of the execution or attachment against the trustee in bankruptcy of the debtor, unless he has completed the execution or attachment before the 4 & 5 Geo. 5, date of the receiving order, and before notice of the C. 59, s. 40 (1). presentation of any bankruptcy petition by or against the debtor, or of the commission of any available act of bankruptcy by the debtor.

or attach- ment.

Ordinance No. 7 of 1891, s. 38 (2).

(2) For the purposes of this Ordinance, an execu- tion shall be deemed to be completed:-

(a) in the case of movable property in the pos- session of the debtor, or of negotiable instru- ments, or of money, by receipt or recovery by the judgment creditor of the full amount of the levy, after due compliance by the bailiff with the provisions of section 46;

(b) in the case of movable property to which the debtor is entitled subject to a lien or right of some person to the immediate possession thereof, by attachment by prohibitory order and sale;

(c) in the case of lands, houses, or other immo- vable property or any interest therein, either at law or in equity, by attachment by prohi- bitory order and due registration thereof in the appropriate Land Office;