BANKRUPTCY.
No. 7 of 1891.
607
being money or property of or in right of his wife, shall, on his becoming bankrupt before the property or money has been actually transferred or paid pursuant to the covenant or contract, be void against the trustee in the bankruptcy.
(3) "Settlement" shall, for the purposes of this section, include any conveyance or transfer of property.
in certain
46 & 47 Vict.
c. 52, s. 18.
41. (1) Every conveyance or transfer of property or charge thereon made, every payment made, every obligation incurred, and every judicial proceeding taken or suffered by any person unable to pay his debts as they become due from his own money in favour of any creditor or any person in trust for any creditor, with a view of giving such creditor a preference over the other creditors, shall, if the person making, taking, paying, or suffering the same is adjudged bankrupt on a bankruptcy petition presented within four 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.
bona fide
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,-
(1) any payment by the bankrupt to any of his creditors;
(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
notice.
c. 52, s. 19.
Page 30
Page 31
BANKRUPTCY.
No. 7 of 1891.
607
being money or property of or in right of his wife, shall, on his becoming bankrupt before the property or money has been actually transferred or paid pursuant to the covenant or contract, be void against the trustee in the bankruptcy.
(3) "Settlement" shall, for the purposes of this section, include any conveyance or transfer of property.
in certain
46 & 47 Vict.
c. 52, s. 18.
41. (1) Every conveyance or transfer of property or Avoidance of charge thereon made, every payment made, every obligation preferences incurred, and every judicial proceeding taken or suffered cases. by any person unable to pay his debts as they become due From his own money in favour of any creditor or any person in trust for any creditor, with a view of giving such creditor a preference over the other creditors, shall, if the person making, taking, paying, or suffering the same is adjudged bankrupt on a bankruptcy petition presented within four 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.
bona fide
42. Subject to the preceding provisions of this Ordinance Protection of with respect to the effect of bankruptcy on an execution or transactions attachment and with respect to the avoidance of certain without settlements and preferences, nothing in this Ordinance shall 1647 Vict. invalidate, in the case of a bankruptcy,-
(1) any payment by the bankrupt to any of his creditors;
(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, con- tract, dealing, or transaction, as the case may be, takes place before the date of the receiving order; and
notice.
c. 52, s. 19.
Page 30Page 31
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