718598-1863-HONGKONG-ANNO-VICESIMO-SEPTIMO-VICTORIE-REGINE-NO--OF-1863- — Page 25

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THE HONGKONG GOVERNMENT GAZETTE, 31st OCTOBER, 1863.

Contract or security

Creditor to forbear op- position void.

any

or

CXLIX. Any Contract, Covenant or Security made or given by a Bankrupt with intent to induce other person with or to or in trust for

Creditor for securing the payment of any money as a consideration or with intent to persuade the Creditor to forbear opposing the order of discharge, or to forbear to petition for a relearing of or to appeal against the same, shall be void, and any money thereby secured or agreed to be paid, shall not be recoverable, and the party sued on any such contract or security may plead in gene- ral that the cause of action accrued pending proceedings in bankruptcy, airl may give this Ordinance and the special matter in evidence: Provided that no such security if a negotiable security shall be void as against a bonâ fide holder thereof, for value without notice of the consideration for which it was given.

Penalty for obtain-

an inducement to for-

CL. If any Creditor of a Bankrupt shall obtain any sum of money, or any goods, ing money or goods as chattels or security for money from any person as an inducement for forbearing to bear opposing order of oppose, or for consenting to the discharge of such Bankrupt or to forbear to petition for the recal of the same every such Creditor so offending shall forfeit and lose for every such offence the treble value or amount of such money, goods, chattels or security so obtained.

discharge.

Rehearing of order of discharge.

5

If order suspended

quent Creditors to

CLI. The order of discharge whether suspended or not shall not be reversed by the Court unless the Court see good cause to believe that the order was obtained on false evidence or by reason of the suppression of evidence or otherwise fraudulently: in any of which cases the Court may, if it think fit upon the application of a Bankrupt or of a Creditor who has proved and subject to such deposit for costs, and to such notices by advertisement or otherwise, as the Court shall think fit, grant a rehearing of the matter and rehear it accordingly, and upon rehearing the Court shall make such order as shall şeem just as in like manner it might upon an original hearing.

CLII. If on such rehearing the Court shall annul or suspend the order of discharge, on rehearing subse- all persons having bonâ fide become Creditors of the Bankrupt between the time the prove first against discharge took effect and the time of its being annulled or suspended on rehearing, subsequent property. shall as against any property acquired by the Bankrupt during the same period, and in priority to the original Creditors, be admitted to prove and have dividends under the bankruptcy.

Form of order.

CLIII. The order of discharge shall be in such form as General Orders shall direct, Notice to be adver- and shall be under the hand of the Chief Justice and the seal of the Court; and notice

of the granting thereof shall be advertised in the Hongkong Government Gazette.

tised.

Application for order of discharge where

ously refused.

CLIV. With respect to any persons heretofore Bankrupt or Insolvent whose dis- order has been presi- charge has been refused or suspended or postponed, before the passing of this Ordinance the Court may at any time after the expiration of three years from the time of such refusal, suspension or postponement hear and determine the application of any such Bankrupt or Insolvent for an order of discharge and thereupon the Court may, if it shall think fit, grant an order of discharge either absolutely or subject to any condition in the same manner as if the bankruptcy or insolvency of the applicant had taken place under this Ordinance: and such discharge shall have the same effect to all intents and purposes as if the Bankrupt or Insolvent had been adjudged Bankrupt under this Ordi-

Dividend.

+

nance.

As to Dividend.

CLV. As soon after the adjudication as the Court or the Assignees shall appoint, the Creditors' Assignee shall submit to a meeting of Creditors to be called for that purpose, and to be held before such Officer as the Court shall appoint, of which meeting ten days notice shall be given in the Hongkong Government Gazette, a statement of the whole estate of the Bankrupt as then ascertained of the property recovered, and of the property outstanding, specifying the cause of its being so outstanding, and of all the receipts, and of all payments thereout, made or to be made; and the Official Assignee shall, and any Creditor who has proved may attend and examine such statement, and compare the receipts with the payments; and upon ascertaining what balance is then in the Bank to the credit of the estate, the meeting shall by resolution, declare whether any and what part of the net produce of the estate, after making a reasonable deduction for future contingencies, shall be divided amongst the Creditors. At the same meeting the majority in value of the Creditors present shall determine whether any and what allowance shall be made to the Bankrupt out of his estate, if he has obtained or shall obtain his discharge.