the-ordinances-of-the-legislative-counci-1890 — Page 653

ORDINANCE No. 5 OF 1864. 617


Bankruptcy and Insolvency.


such labourer or workman out of the estate of such bankrupt; and such
labourer or workman may prove for any sum exceeding such amount.
124. Where any person shall have been an apprentice to a bank Apprentices
to bankrupts
rupt at the time of the filing of the petition for adjudication , the filing of discharged
from their
such petition shall, unless all necessary parties shall consent in writing indentures.
that the indenture shall remain in force, be and enure as a complete

discharge of the indenture whereby such apprentice was bound ; and if
any sum shall have been really and bonâ fide paid , by, or on behalf of such
Court may
apprentice to the bankrupt, as an apprentice fee, the Court may upon
order any sum
proof thereof, order any sum to be paid out of the estate of the said bank to be paid in
respect of ap
rupt to, or for the use of such apprentice, which the Court shall think prentice fees.
reasonable, regard being had , in estimating such sum, to the amount of
the sum so paid by or on behalf of such apprentice , and to the time during
which such apprentice shall have resided with the bankrupt previous to
the filing of such petition.
125. Where there has been mutual credit given by the bankrupt and Mutual debts
and credits
any other person , or where there are mutual debts between the bankrupt may be set off
notwithstand
and any other person , the Court shall state the account between them, ingprior act of
bankruptcy.
and one debt or demand may be set against another, notwithstanding any
prior act of bankruptcy committed by such bankrupt, before the credit
given to or the debt contracted by him ; and what shall appear due on

either side on the balance of such account, and no more shall be claimed

or paid on either side respectively ; and every debt or demand hereby made
provable against the estate of the bankrupt, may also be set off in manner
aforesaid against such estate, provided the person claiming the benefit of
such set- off, had not when such credit was given , notice of an act of bank
ruptcy by such bankrupt committed .
126. Any person who shall have given credit to the bankrupt upon Deeds not
payable at the
valuable consideration for any money or other matter or thing whatsoever time of the
bankruptcy
which shall not have become payable when such bankrupt committed an may be prov
ed, deducting
act of bankruptcy , and whether such credit shall have been given upon rebate of in
terest.
any bill, bond, note , or other negotiable security, or not, shall be entitled
to prove such debt, bill , bond , note, or other security as if the same was
payable presently, and receive dividends equally with the other creditors ,
deducting only thereout a rebate of interest for what he shall so receive
at the rate of twelve per centum per annum, to be computed from the
declaration of a dividend to the time such debt would have become pay

able according to the terms upon which it was contracted .