610
Where bankrupt beneficially entitled to stock, Court may make order for transfer.
Distress not to be available for more than one year's rent due.
The landlord to prove for the residue.
Discretion in Court as to the disposal of property in certain cases.
ORDINANCE No. 5 OF 1864.
Bankruptcy and Insolvency.
99. If any bankrupt shall have any Government funds or stock of any public company standing in his name or in his own right, the Court may by writing order all persons whose act or consent is thereto necessary to transfer the same into the name of the assignees, and to pay all dividends upon the same to the Official Assignee; and all such persons whose act or consent is so necessary are hereby indemnified from all things done or permitted pursuant to such order.
100. No distress for rent made and levied after an act of bankruptcy upon the goods and effects of any bankrupt whether before or after the filing of the petition for adjudication, shall be available for more than one year's rent, accrued prior to the day of the filing of such petition: but the landlord or persons to whom the rent shall be due shall be allowed to come in as a creditor for the overplus of the rent due, and for which the distress shall not be available.
101. In any case where any person, against whom an adjudication may have been made under this Ordinance, may be entitled to any annuity for his own life, or other uncertain interest, or to any reversionary or contingent interest, or to property under such circumstances that the immediate sale thereof for payment of his debts may be very prejudicial to him and deprive him of the means of subsistence which he might otherwise have after payment of his debts, and it may be proper to authorize the raising of money by way of mortgage for payment of the debts, or part of the debts of such person, instead of selling the property of such person for that purpose, the Court may take into consideration all circumstances affecting the property of any such person; and if it shall appear to the Court that it would be reasonable to make any special order touching the same, the Court may do so, and direct that such property as it may be expedient not to sell, or not to sell immediately, according to the provisions of this Ordinance, shall not be sold, and may from time to time direct in what manner such property shall be managed for the benefit of the creditors of such person, until the same can be properly sold, or until payment of all such creditors, according to the provisions of this Ordinance, shall have been made, and may make all such orders touching the sale or disposition of such property as the Court shall see fit, considering the rights of the creditors and the future benefit of such person after payment of his debts, and upon such terms and conditions with respect to the allowance of interest on debts not bearing interest or other matters.
610
Where bank- rupt benefi cially entitled to stock, Court may make order for transfer.
Distress not to be avail-
able for more than one year's rent due.
The landlord.
to prove for the residue.
Discretion in Court as to the disposal of property in certain cases.
ORDINANCE No. 5 OF 1864.
Bankruptcy and Insolvency.
99. If any bankrupt shall have any Government funds or stock of any public company standing in his name or in his own right, the Court may by writing order all persons whose act or consent is thereto neces- sary to transfer the same into the name of the assignees, and to pay all dividends upon the same to the Official Assignee; and all such persons whose act or consent is so necessary are hereby indemnified from ali things done or permitted pursuant to such order.
100. No distress for rent made and levied after an act of bank- ruptcy upon the goods and effects of any bankrupt whether before or after the filing of the petition for adjudication, shall be available for more. than one year's rent, accrued prior to the day of the filing of such petition: but the landlord or persons to whom the rent shall be due shall be allowed to come in as a creditor for the overplus of the rent due, and for which the distress shall not be available.
101. In any case where any person, against whom an adjudication may have been made under this Ordinance, may be entitled to any annu- ity for his own life, or other uncertain interest, or to any reversionary or contigent interest, or to property under such circumstances that the immediate sale thereof for payment of his debts may be very prejudicial to him and deprive him of the means of subsistence which he might otherwise have after payment of his debts, and it may be proper to authorize the raising of money by way of mortgage for payment of the debts, or part of the debts of such person, instead of selling the property of such person for that purpose, the Court may take into consideration all circumstances person; and if it shall appear to the Court that it would be reasonable to make any special order touching
affecting the property of any such
the same, the Court may do so, and direct that such property as i
may
be expedient not to sell, or not to sell immediately, according to the pro- visions of this Ordinance, shall not be sold, and may from time to time direct in what manner such property shall be managed for the benefit of the creditors of such person, until the same can be properly sold, or until payment of all such creditors, according to the provisions of this Ordinance, shall have been made, and may make all such orders touching the sale or disposition of such property as the Court shall see fit, con- sidering the rights of the creditors and the future benefit of such person after payment of his debts, and upon such terms and conditions with respect to the allowance of interest on debts not bearing interest or other
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