626
Proceedings for paying dividends to be had until the whole of the estate is divided.
Effect of assignee certificate.
Unclaimed dividends, &c. to be paid into the Treasury.
Official Assignee to act after discharge of Creditors' Assignee.
ORDINANCE No. 5 OF 1864.
Bankruptcy and Insolvency.
name of each creditor who has proved under the estate (subject to the provision herein contained as to dividends reserved) the dividend to which he is entitled out of the net produce of the estate so set apart for a dividend, and shall forward by post to every such creditor a statement of the dividend to which he is so entitled and such dividends shall be paid in such manner as General Orders shall direct.
156. Proceedings for the making up and auditing of the accounts of the estate and the declaration and payment of a dividend shall continue to be had until the whole of the estate is divided amongst the creditors and a dividend is declared to be final: provided that it shall be lawful for the majority in value of the creditors present at any meeting as aforesaid to postpone the period of declaring a dividend, or at any time in declaring a second dividend to declare also that such second dividend shall be final unless any action at Law or suit in Equity be depending, or any part of the estate be standing out not sold or disposed of, or unless some other estate or effects of the bankrupt shall afterwards come to the assignee, in which case he shall, as soon as may be, convert such estate and effects into money, and within two months after the same shall be so converted, the same shall also be divided in manner aforesaid.
157. When a final dividend shall have been paid the Creditors' Assignee may apply to the Court for a certificate and if the Court shall grant such certificate it shall operate to release the Creditors' Assignee from all claims and demands of the creditors or of any person who might have proved under the bankruptcy, subject nevertheless to such conditions, if any, as shall be expressed in such certificate.
158. Every Creditors' Assignee shall, before he shall have obtained his certificate, transmit to the Official Assignee a list of unclaimed dividends on the estate, and of all debts remaining due to the estate, under his hand, and shall pay all moneys and other estate of the bankrupt then in his hands into the Colonial Treasury to the credit of the estate.
159. Where the Creditors' Assignee has obtained his certificate, the Official Assignee shall, as to any estate and effects of the bankrupt not realised at the date of such certificate, and as to all debts then remaining uncollected, and which shall not have been sold in manner herein provided, and as to any future acquired property of the bankrupt...
626
Proceedings for paying dividends to be had until the whole of the estate is divided.
Effect of assignee cer- tificate.
Unclaimed dividends,
c. to bo
paid into the Treasury.
Official
Assigned to
act after
discharge of Creditors' Assignee.
ORDINANCE No. 5 OF 1864.
Bankruptcy and Insolvency.
name of each creditor who has proved under the estate (subject to the provision herein contained as to dividends reserved) the dividend to which he is entitled out of the net produce of the estate so set apart for a dividend, and shall forward by post to every such creditor a statement of the dividend to which he is so entitled and such dividends shall be paid in such manner as General Orders shall direct.
156. Proceedings for the making up and auditing of the accounts of the estate and the declaration and payment of a dividend shall con- tinue to be had until the whole of the estate is divided amongst the creditors and a dividend is declared to be final: provided that it shall be lawful for the majority in value of the creditors present at any meeting as aforesaid to postpone the period of declaring a dividend, or at any time in declaring a second dividend to declare also that such second dividend shall be final unless any action at Law or suit in Equity be depending, or any part of the estate be standing out not sold or disposed of, or unless some other estate or effects of the bankrupt shall afterwards. come to the assignee, in which case he shall, as soon as may be, convert such estate and effects into money, and within two months after the same shall be so converted, the same shall also be divided in manner
aforesaid.
157. When a final dividend shall have been paid the Creditors' Assignee may apply to the Court for a certificate and if the Court shall grant such certificate it shall operate to release the Creditors' Assignee from all claims and demands of the creditors or of any person who might have proved under the bankruptcy, subject nevertheless to such con- ditions if any as shall be expressed in such certificate.
158. Every Creditors' Assignee shall, before he shall have obtained his certificate, transmit to the Official Assignee a list of unclaimed div idends on the estate, and of all debts remaining due to the estate, under his hand, and shall pay all moneys and other estate of the bankrupt then in his hands into the Colonial Treasury to the credit of the estate.
159. Where the Creditors' Assignee has obtained his certificate, the Official Assignee shall, as to any estate and effects of the bankrupt not realised at the date of such certificate, and as to all debts then re- maining uncollected, and which shall not have been sold in manner herein provided, and as to any future acquired property of the bank-
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