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[Note.-The Clauses marked A. and B. were added in Committee.)
HEREAS an Act was passed in the Session of Parliament Preamble.
holden in the Second and Third Years of the Reign of
Her present Majesty, intituled “ An Act for regulating 2 & 3 Viet. " the Sequestration of the Estates of Bankrupts in Scotland, and it c. 41. 5 is expedient that the said Act be in some respects altered and
amended, and that further Provision be made for the due Management and more speedy Distribution of the Estates of Bankrupts under Sequestration in Scotland: Be it therefore enacted by the
Queen's most Excellent Majesty, by and with the Advice and 10 Consent of the Lords Spiritual and Temporal, and Commons, in this
present Parliament assembled, and by the Authority of the same, follows:
1. The Interim Factor, in place of being elected, as at present, shall Interim be appointed by the Lord Ordinary by whom Sequestration shall be Factor to be 15 awarded, or by the Sheriff of the County, upon a Remit to that Effect the Lord
by the Lord Ordinary; and such Interim Factor shall as soon as may Ordinary, be after his Appointment take possession of the Bankrupt's Estate and
immediate Effects, and of his Title Deeds, Books, Bills, Vouchers, and other Possession of
Bankrupt's, Papers and Documents, and also make up an Inventory of such Estate 20 and Effects, and a Valuation showing the estimated Value and the 578.
and to take
annual Rental or Revenue thereof; and every such Interim Factor
tion to ap
Deliverance II. The Deliverance awarding Sequestration shall appoint a Meet- 10
being not earlier than Twelve nor later than Twenty-one Days from
the Date of such Deliverance, to elect a Trustee or Trustees in sucTrustee. cession, and Commissioners, and to do the other Acts provided by
the said recited Act to be done at the Meeting for electing a Trustee. 15
Not to be im- III. It shall not be imperative upon the Lord Ordinary, when award-
tection against Arrest or Imprisonment for Civil Debt until the
IV. The Deliverance of the Sheriff or Sheriff Substitute, declaring the Person or Persons elected to be Trustee or Trustees in succession, shall be final, and in no Case subject to Review in any Court or in any Manner whatever.
Trustee to send Cir. cular to Creditors
V. It shall be the Duty of the Trustee, immediately after the 40
through the Post Office to every Creditor mentioned in the State of mentioned Affairs which by the said recited Act is directed to be made up by in the Bankthe Bankrupt, the Period within which Claims should be lodged. of Affairs.
CLAUSE A. VI. All Provisions of the said recited Act requiring any Creditor to Provisions 5 specify separately in his Oath or Claim for his Debt the Amount of rate Specia any Interest due thereon, or of any Interest deducted therefrom, or to fication of
Interest, &c. specify any accumulated Sum of Principal and Interest, are hereby
VII. Where it shall appear to the Sheriff or to the Trustee that the Errors in 10 Oath and Claim of any Person, produced with a view to voting or to and Claim
framing Oath ranking and drawing a Dividend on the Sequestration, is not framed may be corin the Manner required by the said recited Act, the Sheriff or the Trustee, as the Case may be, shall call upon such Person to rectify his
Oath and Claim, pointing out to him wherein it is defective; and un15 less such Person shall thereupon make such Alteration upon his Oath
and Claim as may be necessary in order to rectify the same, the Sheriff or Trustee, as the Case may be, shall disallow or reject such Oath and Claim : Provided always, that where the Failure to comply with the
Provisions of the said recited Act shall appear to have been made for 20 some improper or fraudulent Purpose, or where Injury can be quali
fied by the other Creditors or any of them in respect thereof, it shall not be incumbent upon the Sheriff or Trustee to give such Person an Opportunity to rectify his Oath and Claim as aforesaid.
VIII. The Day to be fixed by the Sheriff for the Examination of Time for 25 the Bankrupt shall be not sooner than Seven Days nor later than Examination
of Bankrupt, Fourteen Days from the Date of the Sheriff's Warrant for such Ex- and for the amination; and the Meeting of Creditors appointed by the said recited Meeting of Act to be held after the Examination of the Bankrupt shall be held thereafter.
on a Day not sooner than Seven Days nor later than Fourteen Days 30 from the Day appointed for such Examination.
IX. Wherever it is by the said recited Act or by this Act directed Notice on
which Meetthat a Meeting of Creditors shall or may be called or held, a Notice
ings may of the Day, Hour, Place, and Purpose of the Meeting shall be adver- be called,
tised in the Edinburgh Gazette Seven Days at least before the Day 35 of the Meeting, in place of Fourteen Days, as at present; and such
Meeting may be adjourned till the following Day.
X. In place of the T'imes appointed by the said recited Act for Provision for Payment of Dividends, the Periods for Payment of Dividends shall be Payment and
as follows; that is to say, where there are sufficient Funds realized, of Dividends. 40 the First Dividend shall be payable on the First lawful Day after the 578.
Expiration of Six Months from the Date of Sequestration, and a
Time for XI. To entitle any Creditor to Payment of the First Dividend, he 25
shall produce, as directed by the said first-recited Act, his Oath and Grounds of Grounds of Debt at least Two Months before the Time fixed for Debt in
Payment of the First Dividend where such Time of Payment shall
Payment of the First Dividend where such Time shall have been 30
Time for XII. The State of the whole Estate of the Bankrupt, of the Funds 35
recovered and outstanding, and of the Trustee's Intromissions and Bankrupts Management, directed by the said recited Act to be made up, shall of the Trus- be so made up immediately on the Expiration of Four Months from tee's Intro
the Date of the Sequestration, in place of Six Months, as at present ; missions, &e. and all Things directed by the said recited Act to be done by the 40
Trustee, or Commissioners, or any other Person, within Fourteen
tion of the said Fourteen Days, shall be done within Fourteen Days after the Expiration of the said Four Months from the Date of the Sequestration, and within the like Period calculated from the Expira
tion of the said last-mentioned Fourteen Days respectively; and the 5 Notice which by the said recited Act is directed to be given in the
Edinburgh Gazette published next after the Expiration of the said 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.
and State of
XIII. The Scheme of Division directed by the said recited Act to Time for be made up by the Trustee before the Expiration of Eight Months making up 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,
by the said recited Act to be made up by the Trustee on the Expira- Affairs, &c., 15 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.
thereupon such Procedure shall take place with reference to the said 20 State, and to the Second Dividend, as is provided by the said recited
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
followed on vidend may be made on the first lawful Day after the Expiration of Occasion of 25 every Three Months from the Day of the Payment of the imme- subsequent
Dividends, diately preceding Dividend, until the whole Funds of the Bankrupt shall be divided.
XV. Where any Creditor not resident within Great Britain or Where Ireland at the Date of the Deliverance awarding Sequestration, or at Foreign 30 any Time within Four Months thereafter, shall lodge his Oath and lodges Oath
Grounds of Debt Fourteen Days previous to any Time fixed for Pay- and Grounds ment of a Dividend, though not in Time to entitle such Creditor to any Time participate in such Dividend, the Trustee shall make such Deduction previous to
a Dividend, from the divisible Fund as shall be equal to the Dividend which would though not 35 have been payable to such Foreign Creditor had his Oath and Grounds in Time to
of Debt been timeously lodged and his Claim been sustained ; and in it, Fund the Sum so deducted shall form Part of the Fund for Division on the to be laid Occasion of Payment of the next Dividend.
XVI. The Bankrupt may, on the Expiration of Six Months from Proceedings 40 the Date of the Sequestration, in place of Eight Months, as at present, in Petition present a Petition to the Lord Ordinary or the Sheriff, to be finally rupt's Dis578.