the-ordinances-of-the-legislative-counci-1890 — Page 664

628 ORDINANCE No. 5 OF 1864.


Bankruptcy and Insolvency.


what condi trustee on their behalf, relating to the debts or liabilities of the debtor,
tions.
and his release therefrom , or the distribution , inspection , management ,

and winding up of his estate, or any of such matters, shall be as valid
and effectual and binding on all the creditors of such debtor as if they

were parties to, and had duly executed the same, provided the following
conditions be observed ; that is to say:


1. If such deed provides for the conveyance of the estate of the
debtor other than and except such portion thereof as shall not exceed in
value the sum of one hundred dollars :


2. If a majority in number, representing three-fourths in value, of
the creditors of such debtor whose debts shall respectively amount to

fifty dollars and upwards shall , before or after the execution thereof by
the debtor in writing assent to or approve of such deed or instrument :

3. If the trustee or trustees shall execute the same :


4. If the execution of such deed or instrument by the debtor shall
be attested by a barrister-at-law, an attorney, or a solicitor :

5. If within twenty-eight days from the day of the execution of
such deed or instrument by the debtor the same shall be produced and
left at the office of the Registrar for the purpose of being registered :

6. If together with such deed or instrument there shall be delivered
into the said office an affidavit by the debtor or some person able to

depose thereto, or a certificate by the trustee or trustees, that a majority in
number, representing three-fourths in value of the creditors of the debtor,

whose debts amount to fifty dollars or upwards have in writing assented
to or approved of such deed or instrument, and also stating the amount
in value of the property and credits of the debtor comprised in such deed .

7. Immediately on the execution thereof by the debtor , possession
of all the property comprised therein , of which the debtor can give or
order possession shall be given to the trustees.

Particulars 164. The date , names and descriptions of the parties to every such
of deed to be
entered by. deed or instrument, not including the creditors , together with a short
statement of the nature and effect thereof, shall be entered by the Reg
istrar in a book to be kept exclusively for the purposes of such registration .

Such entry shall be made within forty- eight hours after the deed shall