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[Note.-The Clauses marked A. and B. were added in Committee.)

W

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.

A

annual

and to take

Estate.

annual Rental or Revenue thereof; and every such Interim Factor
shall find Caution for his Intromissions to such Amount as the Lord
Ordinary, or the Sheriff, where such Factor shall be appointed by
the Sheriff, shall fix ; and on such Caution being so found and
received such Interim Factor shall be entitled to act, and a certified 5
Copy of the Interlocutor containing his Appointment shall be equiva-
lent to a formal Extract thereof; and such Interim Factor shall be
entitled to make such Arrangements for the carrying on of the Trade
of the Bankrupt as he may think beneficial for the Estate.

tion to ap

Deliverance II. The Deliverance awarding Sequestration shall appoint a Meet- 10
Sequestra- ing of the Creditors, to be held at a specified Hour on a specified Day,

being not earlier than Twelve nor later than Twenty-one Days from
point Meet-
ing to elect

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

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Not to be im- III. It shall not be imperative upon the Lord Ordinary, when award-
Lord Ordi- ing Sequestration, to grant to the Debtor or Partners of the Company
nary to grant against whom or which Sequestration is awarded a Warrant of Pro-
personal
Protection.

tection against Arrest or Imprisonment for Civil Debt until the
Meeting of the Creditors for the Election of Trustee, but the Lord 20
Ordinary may, while awarding Sequestration, refuse to grant such
Warrant of Protection; and every such Warrant of Protection which
may be granted in any Sequestration that shall not be advertised in
the London and Edinburgh Gazettes in Terms of the said recited Act
within One Week after the Date of such Sequestration shall be in- 25
effectual, and incapable of being pleaded in Bar of personal Diligence :
Provided always, that, notwithstanding the Lord Ordinary shall refuse
to grant Interim Warrant of Protection as aforesaid, it shall be com-
petent to the Creditors, on the Occasion of their Meeting to elect
a Trustee, or at the Meeting after the Examination of the Bank- 30
rupt, or at any Meeting called for the Purpose of receiving an Offer
of Composition, to resolve that personal Protection ought to be
granted to the Bankrupt for such Time as they may think fit, and
the Trustee shall thereupon apply to the Sheriff, who shall grant the
Protection.

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35

Deliverance
of Sheriff
as to the
Election of
Trustee to
be final.

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
Examination of the Bankrupt, to notify, by circular Letter transmitted

through

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

repealed. repealed.

CLACSE B.

rected.

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.

shortened.

Acceleration

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

!

Expiration of Six Months from the Date of Sequestration, and a
Dividend shall always be payable on the First lawful Day after the
Expiration of Three Months from the Date of the Payment of the
immediately preceding Dividend, until the whole Funds of the Bank-
rupt be distributed, subject always to the Provisions in the said recited 5
Act and in this Act contained : Provided always, that after the
Second Dividend is made, a Majority of the Creditors, at any General
Meeting called for the Purpose, may determine that future Dividends
shall be made after shorter Intervals, and the Affairs of the Estate
brought to a more speedy Close; and even before the Period assigned 10
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
Ordinary or the Sheriff for Authority to make the First Dividend at 15
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 ;
and where the Lord Ordinary or the Sheriff shall, upon such Appli- 20
cation, accelerate the First or any subsequent Dívidend, 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.

1

Time for XI. To entitle any Creditor to Payment of the First Dividend, he 25
lodging
Oaths and

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
order to
Dividend. not have been accelerated, or One Month before the Time fixed for

Payment of the First Dividend where such Time shall have been 30
accelerated; and to entitle any Creditor to Payment of any of the
subsequent Dividends, he shall producé, as aforesaid, his Oath and
Grounds of Debt at least One Month before the Time fixed for Pay-
ment of the Dividend which he means to claim.

Time for XII. The State of the whole Estate of the Bankrupt, of the Funds 35
making up
State of

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
Days after the Expiration of the said Six Months from the Date of
the Sequestration, or within any Period calculated from the Expira-

tion

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.

Scheme of

and State of

10

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.
Trustee shall, within Fourteen Days after the Expiration of the
said Seven Months, exhibit the said State to the Commissioners, and

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

Act.

Second Divi

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.

aside.

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.

discharged charge.

B

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