Time for lodging Oaths and Grounds of Debt in order to Dividend.

Time for
making up
State of

Bankrupt's
Affairs, and

brought to a more speedy Close; and even before the Period assigned
for the First Dividend as aforesaid, it shall be competent to Three
Fourths in Number and Value of the Creditors present at the
Meeting after the Bankrupt's Examination, or at any after Meeting
called for the Purpose, to direct the Trustee to apply to the Lord 5
Ordinary or the Sheriff for Authority to make the First Dividend at
an earlier Period than the Expiration of Six Months from the Date of
the Sequestration, but not earlier than Four Months from such Date,
if upon Cause shown it shall be found expedient so to do, and also
to accelerate the Time for making the Second and other Dividends; 10
and where the Lord Ordinary or the Sheriff shall, upon such Appli-
cation, accelerate the First or any subsequent Dividend, he shall also
make the requisite Provision for the Acceleration of any other
Matters which he may find it necessary to accelerate in consequence
thereof.

15

XI. To entitle any Creditor to Payment of the First Dividend, he shall produce, as directed by the said first-recited Act, his Oath and Grounds of Debt at least Two Months before the Time fixed for Payment of the First Dividend where such Time of Payment shall not have been accelerated, or One Month before the Time fixed for 20 Payment of the First Dividend where such Time shall have been accelerated; and to entitle any Creditor to Payment of any of the subsequent Dividends, he shall produce, as aforesaid, his Oath and Grounds of Debt at least One Month before the Time fixed for Payment of the Dividend which he means to claim.

25

XII. The State of the whole Estate of the Bankrupt, of the Funds recovered and outstanding, and of the Trustee's Intromissions and Management, directed by the said recited Act to be made up, shall be so made up immediately on the Expiration of Four Months from the Date of the Sequestration, in place of Six Months as at present; 30 missions, &c. and all Things directed by the said recited Act to be done by the

of the Trustee's Intro

Trustee, or Commissioners, or any other Person, within Fourteen Days after the Expiration of the said Six Months from the Date of the Sequestration, or within any Period calculated from the Expiration of the said Fourteen Days, shall be done within Fourteen Days 35 after the Expiration of the said Four Months from the Date of the Sequestration, and within the like Period calculated from the Expiration of the said last-mentioned Fourteen Days respectively; and the Notice which by the said recited Act is directed to be given in the Edinburgh Gazette published next after the Expiration of the said 40 first-mentioned Fourteen Days shall in lieu thereof be given in the Edinburgh Gazette published next after the Expiration of the said last-mentioned Fourteen Days.

XIII. The

and State of

Second Divi

XIII. The Scheme of Division directed by the said recited Act to Time for making up be made up by the Trustee before the Expiration of Eight Months Scheme of from the Date of the Sequestration shall be made up before the Division by Expiration of Six Months from the said Date, and the State directed the Trustee, 5 by the said recited Act to be made up by the Trustee on the Expira- Affairs, &c., tion of Ten Months from the Date of the Sequestration shall be made in order to up on the Expiration of Seven Months from the said Date; and the dend. Trustee shall, within Fourteen Days after the Expiration of the said Seven Months, exhibit the said State to the Commissioners, and 10 thereupon such Procedure shall take place with reference to the said State, and to the Second Dividend, as is provided by the said recited Act.

followed on

XIV. The like Procedure shall be followed out as to subsequent Like ProDividends at similar Intervals of Time thereafter, in order that a Di- cedure to be 15 vidend may be made on the first lawful Day after the Expiration of Occasion of every Three Months from the Day of the Payment of the imme- subsequent diately preceding Dividend, until the whole Funds of the Bankrupt shall be divided.

Dividends.

Creditor

of Debt at

a Dividend,

XV. Where any Creditor not resident within Great Britain or Where 20 Ireland at the Date of the Deliverance awarding Sequestration, or at Foreign any Time within Four Months thereafter, shall lodge his Oath and lodges Oath Grounds of Debt previous to any Time fixed for Payment of a Divi- and Grounds dend, though not in time to entitle such Creditor to participate in any Time such Dividend, the Trustee shall make such Deduction, by way of previous to 25 Per-centage, from the Dividends of the Creditors entitled to participate though not therein, as shall be sufficient to raise a Fund to meet the Dividend in time to participate which would have been payable to such Foreign Creditor had his Oath in it, Fund and Grounds of Debt been timeously lodged and his Claim been to be laid sustained; and the Fund so raised shall form Part of the Fund for 30 Division on the Occasion of Payment of the next Dividend.

aside.

in Petition

XVI. The Bankrupt may, on the Expiration of Six Months from Proceedings the Date of the Sequestration, in place of Eight Months as at present, for Bankpresent a Petition to the Lord Ordinary or the Sheriff, to be finally rupt's Disdischarged of all Debts contracted by him before the Date of the charge. 35 Sequestration, provided a Majority in Number and Four Fifths in

Value of the Creditors who have produced Oaths concur in the Petition; and the Bankrupt may also present such Petition on the Expiration of Twelve Months from the Date of the Sequestration, provided a Majority in Number and Two Thirds in Value of the said 40 Creditors concur in the Petition; and the Bankrupt may also present such Petition on the Expiration of Eighteen Months from the Date of the Sequestration, provided a Majority in Number and Value of the

441.

B

said

Accounts for Law Business

under Se

.

said Creditors concur in the Petition; and the Lord Ordinary or the
Sheriff, as the Case may be, shall, in each of the Cases aforesaid,
order the Petition to be intimated in the Edinburgh Gazette; and if,
at the Distance of not less than Twenty-one Days from the Publi-
cation of such Intimation, and on Evidence being produced of 5
Concurrence as aforesaid, there be no Appearance to oppose the
same, the Lord Ordinary or the Sheriff, as the Case may be,
shall pronounce a Deliverance finding the Bankrupt entitled to a
Discharge; but if Appearance be made by any of the Creditors,
or by the Trustee, the Lord Ordinary or the Sheriff, as the Case may 10
be, shall judge of any Objections against granting the Discharge, and
may require the Trustee to prepare and lodge a Report with regard to
the Conduct of the Bankrupt, and as to how far he has complied with
the Provisions of the Statute; and the Trustee shall thereupon make
such Report, and in particular shall report whether the Bankrupt has 15
made a fair Discovery and Surrender of his Estate, and whether he
has attended the Diets of Examination, and whether he has been guilty
of any Collusion, and whether his Bankruptcy has arisen from inno-
cent Misfortunes or Losses in Business, or from culpable or undue
Conduct; and the Lord Ordinary or the Sheriff, as the Case may be, 20
shall either find the Bankrupt entitled to his Discharge, or refuse the
Discharge, or defer the Consideration of the same for such Period as
he
think
may
proper, and may annex such Conditions thereto as the
Justice of the Case may require.

XVII. All Accounts for Law Business incurred by the Trustee 25 shall, before Payment thereof by the Trustee, be submitted for Taxation to the Auditor of the Court of Session, or to the Auditor questration of the Sheriff Court of the County in which the Bankrupt carried on his Business, as may be directed by a General Meeting of the Creditors.

to be taxed.

Where Assets found

to be under 1007. Sequestration

to be recalled.

30

XVIII. Where, in the Course of the Proceedings in any Sequestration under the said recited Act, it shall appear to the Sheriff Clerk or to the Trustee that the Assets are not likely to exceed or do not exceed One hundred Pounds, it shall be the Duty of the Sheriff Clerk or Trustee forthwith to lodge a Note with the Sheriff, setting 35 forth his Opinion to that Effect, and thereupon the ordinary Procedure under such Sequestration shall be stayed and suspended until it shall be shown to the Satisfaction of the Sheriff that the Assets do exceed the Sum of One hundred Pounds; and if the Sheriff be satisfied the Assets do not exceed such Sum, he shall recall the 40 Sequestration, without Prejudice to the Sheriff Clerk and Trustee, retaining out of the Assets such reasonable Remuneration as may be due to them respectively; and the Sheriff Clerk shall intimate such Recall

Recall to the Bill Chamber Clerks by making a Marking thereof in his annual Return in Terms of the said recited Act.

to some Re

XIX. Every Sheriff Clerk acting under this Act shall be entitled Sheriff Clerk to such reasonable Remuneration as an Interim Factor is entitled to to be entitled 5 under the said recited Act; and such Remuneration shall be his own muneration exclusive Property, and he shall not be accountable for the same in as Interim any Public Department.

Factor.

XX. All Words and Expressions used in the said recited Act and Interpretain this Act shall, in construing this Act, be held to include the tion Clause. 10 Meanings which they respectively include when used in the said

recited Act.