541023-1905-The-China-and-Corea-Order-in-Council-1904 — Page 36

1322

Time for registration

of bill.

Mode of

registering bill.

Penalty for failure to

register.

Priority.

Effect of bill

THE HONGKONG GOVERNMENT GAZETTE, 1ST SEPTEMBER, 1905.

(b.) It must state truly the consideration for which it is granted. (c.) It must have annexed thereto or written thereunder an inventory of

the chattels intended to be comprised therein.

(d.) Any defeasance, condition, or declaration of trust affecting the bill not contained in the body of the bill must be written on the same paper as the bill.

(e.) The execution of the bill must be attested by a credible witness, with

his address and description.

(2.) Otherwise, the bill is void in China and in Corea to the extent following, but not further (that is to say) :

(a.) In the case of failure to conform with the rule respecting an inventory,

as far as regards chattels omitted from the inventory; and

(.) In any other case, wholly.

(3.) The inventory, and any defeasance, condition, or declaration as aforesaid, respectively, is for all purposes deemed part of the bill.

136. A bill of sale conforming, or appearing to conform, with the foregoing rules,

may be registered, if it is intended to affect chattels in China or Corea, at the Supreme Court or at the Consulate of the Consular district wherein the chattels are within the respective time following and not afterwards (namely ) :—

(1.) Within fourteen days after its execution, where it is executed in the

Consular district wherein the chattels are ;

(2.) Within two months after its execution, where it is executed in China or in Corea or elsewhere than in that Consular district, or in Wei-hai-Wei or Hong Kong;

(3.) Within six months after its execution, where it is executed elsewhere

than in China, Corea, Wei-hai-Wei, or Hong Kong,

137. Registration is made as follows: The original and a copy of the bill of sale, and an affidavit verifying the execution, and the time aud place of execution, and the attestation thereof, and verifying the copy, are brought into the proper office of the Court or the Consulate and the copy and affidavit are left there.

138. If a bill of sale is not registered at a place and within the time by this Order appointed and allowed for registration thereof, it is, from and after the expiration of that time, void in China or Corea, according as that place is in China or in Corea, to the extent following, but not further (that is to say) :-

(1.) As against trustees or assignees of the estate of the grantor, in or under

bankruptcy, liquidation, or assignment for benefit of creditors; and (2.) As against all sheriff's and others seizing chattels under process of any Court, and any person on whose behalf the seizure is made; but only (3.) As regards the property in, or right to, the possession of such chattels comprised in the bill as, at or after the filing of the petition for bank- ruptcy or liquidation, or the execution of assignment, or the seizure, are in the grantor's possession, or apparent possession.

139. Registered bills of sale affecting the same chattels have as among them- selves priority in order of registration.

140. Chattels comprised in a registered bill of sale are not in the possession, bankruptcy. order, or disposition of the grantor within the law of bankruptcy.

in case of