612
&c., or agent of the bankrupt, to deliver all
moneys, &c.
Payments, conveyances, contracts, &c., executions against lands (if executed by seizure) to be valid, if no notice of prior act of bankruptcy.
But nothing herein to give validity to payments &c., by way of fraudulent preference.
Bona fide purchases not to be impeached by notice of act of bankruptcy, unless petition filed within twelve months after the act of bankruptcy.
ORDINANCE No. 5 OF 1864.
Bankruptcy and Insolvency.
bankrupt, to pay and deliver over to the Official Assignee all moneys, or securities for money, in his custody, possession, or power as such Treasurer, officer, banker, or agent, and which he is not by law entitled to retain as against the bankrupt or his assignee.
As to transactions not affected by Bankruptcy.
105. Every payment really and bonâ fide made by any bankrupt, or by any person on his behalf, before the filing of a petition for adjudication to any creditor of such bankrupt, and every payment really and bona fide made to any bankrupt before the filing of such petition, and every conveyance by any bankrupt bona fide made and executed before the filing of such petition, and every contract, dealing, and transaction, by and with any bankrupt really and bona fide made and entered into before the filing of such petition, and every execution and attachment against the lands and tenements of any bankrupt bonâ fide executed by seizure, and every execution and attachment against the goods and chattels of any bankrupt bonâ fide executed and levied by seizure and sale before the filing of such petition, shall be deemed to be valid, notwithstanding any prior act of bankruptcy by such bankrupt committed, provided that the person so dealing with, or paying to, or being paid by such bankrupt, or at whose suit, or on whose account, such execution or attachment shall have issued, had not at the time of such payment, conveyance, contract dealing or transaction, or at the time of so executing or levying such execution or attachment, or, at the time of making any sale thereunder, notice of any prior act of bankruptcy by him committed; Provided also, that nothing herein contained shall be deemed or taken to give validity to any payment, or to any delivery or transfer of any goods or chattels made by any bankrupt being a fraudulent preference of any creditor, of such bankrupt, or to any conveyance, or equitable mortgage made or given by any bankrupt, by way of fraudulent preference of any creditor of such bankrupt, or to any execution founded on a judgment on a warrant of attorney or cognovit actionem, or Judge's order obtained by consent given by any bankrupt by way of fraudulent preference.
106. No purchase from any bankrupt bonâ fide and for valuable consideration where the purchaser had notice at the time of such purchase of an act of bankruptcy by such bankrupt committed, shall be impeached by reason thereof unless a petition for adjudication shall have been filed within twelve months after such act of bankruptcy.
612
&c., or agent of the bank- rupt, to deliver all
moneys, &c.
Payments, conveyances, contracts, &c., executions against lands (if executed by seizure) to be valid, if no notice of prior act of bankruptcy.
But nothing herein to give validity to payments &c., by way of fraudulent preference.
Bona fide purchases not
to be impeach
ed by notice of act of bank- ruptcy, un- less petition filed within twelve
months after the act of
bankruptcy.
ORDINANCE No. 5 OF 1864.
Bankruptcy and Insolvency.
bankrupt, to pay and deliver over to the Official Assignee all moneys, or securities for money, in his custody, possession, or power as such Treas- urer, officer, banker, or agent, and which he is not by law entitled to retain as against the bankrupt or his assignee.
As to transactions not affected by Bankruptcy.
105. Every payment really and bonâ fide made by any bankrupt, or by any person on his behalf, before the filing of a petition for adjudi- cation to any creditor of such bankrupt, and every payment really and bona fide made to any bankrupt before the filing of such petition, and every conveyance by any bankrupt bona fide made and executed before the filing of such petition, and every contract, dealing, and transaction, by and with any bankrupt really and bona fide made and entered into before the filing of such petition, and every execution and attachment against the lands and tenements of any bankrupt bonâ fide executed by seizure, and every execution and attachment against the goods and chat- tels of any bankrupt bonâ fide executed and levied by seizure and sale before the filing of such petition, shall be deemed to be valid, notwith- standing any prior act of bankruptcy by such bankrupt committed, provided that the person so dealing with, or paying to, or being paid by such bankrupt, or at whose suit, or on whose account, such execution or attachment shall have issued, had not at the time of such payment, conveyance, contract dealing or transaction, or at the time of so executing or levying such execution or attachment, or, at the time of making any sale thereunder, notice of any prior act of bankruptcy by him committed; Provided also, that nothing herein contained shall be deemed or taken to give validity to any payment, or to any delivery or transfer of any goods or chattels made by any bankrupt being a fraudulent preference of any creditor, of such bankrupt, or to any conveyance, or equitable mortgage made or given by any bankrupt, by way of fraudulent preference of any creditor of such bankrupt, or to any execution founded on a judgment on a warrant of attorney or cognovit actionem, or Judge's order obtained by consent given by any bankrupt by way of fraudulent preference.
106. No purchase from any bankrupt bonâ fide and for valuable consideration where the purchaser had notice at the time of such purchase of an act of bankruptcy by such bankrupt committed, shall be impeached by reason thereof unless a petition for adjudication shall have been filed within twelve months after such act of bankruptcy.
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