BANKRUPTCY.
No. 7 of 1891.
633
adjudged bankrupt on a bankruptcy petition presented within 4 months after the date of making, taking, paying, or suffering the same, be deemed fraudulent and void as against the trustee in the bankruptcy.
(2) This section shall not affect the rights of any person making title in good faith and for valuable consideration through or under a creditor of the bankrupt.
42. Subject to the preceding provisions of this Ordinance with respect to the effect of bankruptcy on an execution or attachment and with respect to the avoidance of certain settlements and preferences, nothing in this Ordinance shall invalidate, in the case of a bankruptcy,-
[46 & 47 Vict. c.52 s. 49.]
(1) any payment by the bankrupt to any of his creditors; or
(2) any payment or delivery to the bankrupt; or
(3) any conveyance or assignment by the bankrupt for valuable consideration; or
(4) any contract, dealing, or transaction by or with the bankrupt for valuable consideration:
Provided that both the following conditions are complied with, namely,-
(1) the payment, delivery, conveyance, assignment, contract, dealing, or transaction, as the case may be, takes place before the date of the receiving order; and
(2) the person (other than the debtor) to, by, or with whom the payment, delivery, conveyance, assignment, contract, dealing, or transaction was made, executed, or entered into has not, at the time of the payment, delivery, conveyance, assignment, contract, dealing, or transaction, notice of any available act of bankruptcy committed by the bankrupt before that time.
Realization of Property.
notice.
43.-(1) The trustee shall, as soon as may be, take possession of the deeds, books, and documents of the bankrupt and all other parts of his property capable of manual delivery.
(2) The trustee shall, in relation to and for the purpose of acquiring or retaining possession of the property of the bankrupt, be in the same position as if he were a receiver of the property appointed by the court.
[ib. s. 50.]
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BANKRUPTCY.
No. 7 of 1891.
633
adjudged bankrupt on a bankruptcy petition presented within 4 months after the date of making, taking, paying, or suffering the same, be deemed fraudulent and void as against the trustee in the bankruptcy.
(2) This section shall not affect the rights of any person making title in good faith and for valuable consideration through or under a creditor of the bankrupt.
42. Subject to the preceding provisions of this Ordinance with Protection of respect to the effect of bankruptcy on an exccution or attachment transactions
bona fide and with respect to the avoidance of certain settlements and prefer- without ences, nothing in this Ordinance shall invalidate, in the case of a [46 & 47 Vict. bankruptcy,-
c.52 s. 49.]
(1) any payment by the bankrupt to any of his creditors; or
(2) any payment or delivery to the bankrupt; or
(3) any conveyance or assignment by the bankrupt for valuable consideration; or
(4) any contract, dealing, or transaction by or with the bank- rupt for valuable consideration:
Provided that both the following conditions are complied with, namely,-
(1) the payment, delivery, conveyance, assignment, contract, dealing, or transaction, as the case may be, takes place before the date of the receiving order; and
(2) the person (other than the debtor) to, by, or with whom the payment, delivery, conveyance, assignment, contract, dealing, or transaction was made, executed, or entered into has. not, at the time of the payment, delivery, conveyance, assignment, contract, dealing, or transaction, notice of any available act of bankruptcy committed by the bankrupt before that time.
Realization of Property.
notice.
f
43.-(1) The trustee shall, as soon as may be, take possession of Possession of the deeds, books, and documents of the bankrupt and all other parts property by of his property capable of manual delivery.
(2) The trustee shall, in relation to and for the purpose of acquir ing or retaining possession of the property of the bankrupt, be in the same position as if he were a receiver of the property appointed by
trustee.
[ib. s. 50.]
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