the-ordinances-of-the-legislative-counci-1890 — Page 648

612 ORDINANCE No. 5 OF 1864.


Bankruptcy and Insolvency.


&c.. or agent bankrupt, to pay and deliver over to the Official Assignee all moneys , or
of the bank
rupt. to securities for money, in his custody , possession , or power as such Treas
deliver all
moneys, &c. 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.

Payments, 105. Every payment really and bonâ fide made by any bankrupt ,
conveyances,
contracts, &c. , or by any person on his behalf, before the filing of a petition for adjudi
executions
against lands cation to any creditor of such bankrupt, and every payment really and
(if executed
by seizure) bonâ fide made to any bankrupt before the filing of such petition , and
to be valid, if
no notice of every conveyance by any bankrupt bona fide made and executed before
prior act of
bankruptcy. the filing of such petition, and every contract, dealing , and transaction ,
by and with any bankrupt really and bonâ 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 ;
But nothing Provided also, that nothing herein contained shall be deemed or taken to
herein to give
validity to give validity to any payment, or to any delivery or transfer of any goods
payments
&c., by way or chattels made by any bankrupt being a fraudulent preference of any
of fraudulent
preference. 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 .
Bona fide 106. No purchase from any bankrupt bonâ fide and for valuable
purchases not
tobe impeach consideration where the purchaser had notice at the time of such purchase
ed by notice
ofact of bank of an act of bankruptcy by such bankrupt committed , shall be impeached
ruptcy, un
less petition by reason thereof unless a petition for adjudication shall have been filed
filed within
twelve within twelve months after such act of bankruptcy.
months after
the act of
bankruptcy.