1950_BANKRUPTCY_ORDINANCE_ORDINANCE — Page 3

Bankruptcy.

"resolution" means ordinary resolution;

"secured creditor" means a person holding a mortgage,

charge or lien on the property of the debtor or any part thereof, as a security for a debt due to him from the debtor;

"special resolution" means а resolution decided by a majority in number and three-fourths in value of the creditors present, personally or by proxy, at a meeting of creditors and voting on the resolution;

"Registrar" includes the Registrar of the Supreme Court

and any deputy registrar;

"trustee" means the trustee in bankruptcy of a debtor's

estate..

PART II.

[CAP: 6

PROCEEDINGS FROM ACT OF BANKRUPTCY TO DISCHARGE.

Acts of bankruptcy.

3. (1) A debtor commits an act of bankruptcy in each Acts of of the following cases-

(a) if in this Colony or elsewhere he makes a conveyance

or assignment of his property to a trustee or trustees for the benefit of his creditors generally;

(b) if in this Colony or elsewhere he makes a fraudulent conveyance, gift, delivery or transfer of his property or of any part thereof;

•

(c) if in this Colony or elsewhere he makes any con- veyance or transfer of his property or any part thereof, or creates any charge thereon, which would be void as a fraudulent preference if he were adjudged bankrupt;

(d) if with intent to defeat or delay his creditors he does any of the following things, namely, departs out of the Colony, or being out of the Colony remains out of the Colony, or departs from his dwelling-house or usual place of business, or otherwise absents himself, or begins to keep house, or removes his property or any part thereof beyond the jurisdiction of the court;

(e) if execution against him has been levied by seizure of his goods under process in an action, or proceed- ing in the court, and the goods have been either sold or held by the bailiff for twenty-one days:

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tankruptcy. 4 & 5 Geo. 5, c. 59, s. 1.