the Diligence of Creditors upon an equal and proper Footing, and preventing unjust Preferences and Accumulation of Expence, and likewife for operating a more fpeedy Diftribution of the Eftates of Bankrupts, both real and perfonal, efpecially where fuch Eftates belong to Perfons engaged in Trade and Manufactures: May it therefore pleafe your Majefty that it may be enacted; and be it enacted by the King's moft Excellent Majefty, by and with the Advice and Confent of the Lords Spiritual and Temporal, and Commons, in this prefent Parliament aflembled, and by the Authority of the fame, That in all What shall be Actions and Questions arifing upon the Conftruction and Effect of the Act of the Parliament of Scotland, deemed fufficient made in the Year one thoufand fix hundred and ninety-fix, intituled, An Act for declaring Notour Bankrupts, when a Debtor is out of Scotland, or not liable to be imprifoned by reafon of Privilege or perfonal Protection, a Charge of Horning executed againft him, together with either an Arreftment of any of his perfonal Effects not loofed or difcharged within fifteen Days, or a Poinding executed of any of his Moveables, or a Decree of Adjudication of any Part of his heritable Eftate, or Sequeftration by the Act of a proper Court of all or any Part of his Eftate or Effects, heritable or moveable, for Payment of Debt, fhall, when joined with Infolvency, be held as fufficient Proof of Notour Bankruptcy; and from and after the laft Step of fuch Diligence, the faid Debtor, if infolvent, fhall be held as Bankrupt.

Proof of Bank

upcy.

rupts Effects.

II. And be it enacted by the Authority aforefaid, That when a Debtor is made Bankrupt in Terms of the Directions rela faid Act, made in the Year one thoufand fix hundred and ninety-fix, as now extended, all Arreftments tive to Arrentwhich fhall have been used for attaching any perfonal Effects of fuch Bankrupt within thirty Days prior ments of Bankto the Bankruptcy, or within four Calendar Months immediately fubfequent, fhall be pari paffu preferable; and in order to fave, as far as poffible, the Expence of a Multiplicity of Arreftments, it is declared, That where the Effects of a Debtor are arrefted by any Creditor, within thirty Days before the Bankruptcy, or within four Months after it, and a Procefs of Forthcoming or Multiplepoinding is brought in which fuch Arreftment is founded on, it fhall be competent for any other Creditor, producing his Intereft, and making his Claim in the faid Procefs, at any Time before the Expiration of the faid four Months, to be ranked in the fame Manner as if he had ufed the Form of Arreftment; the Expence of raifing the Procefs, and of the Diligence, at the Inftance of the Creditor who raifes it, being always paid out of the common Fund.

III. And be it enacted by the Authority aforefaid, That an Arreftiment executed at the Market Crofs of Edinburgh, and Pier and Shore of Leith, in the Hands of any Perfon out of the Kingdom, without other fufficient Notification, fhall not interpel the Arreftce from paying bona fide to the original Creditor. IV. And be it enacted by the Authority aforefaid, That no Poinding of the Moveables belonging to fuch Bankrupt, within thirty Days before his Bankruptcy, as aforefaid, or within four Calendar Months thereafter, fhall give a Preference to fuch Poinder over the other lawful Creditors of the Bankrupt, but the Goods fo poinded fhall be confidered as in medio, and the Perfon receiving the Price of them fhall be liable to make the fame forthcoming, fo as that all the other Creditors of the Bankrupt who are poflefled of liquidate Grounds of Debt, or Decrees for Payment, fhall be intitled to their Proportion of the fame; provided they make their Claim by fummoning the Poinder at any Time before the Expiration of the faid four Months, deducting always the Expence of fuch Poinding from the firft End of the Price of fuch Goods, together with twenty per Centum on the appraised Value, which the Poinder fhall retain to Account of his Debt, in Preference to the other Creditors, referving Liberty to him to rank on the remaining Sum for the full Amount of the Debt contained in his Diligence.

Poinding of
Moveables

within a cer

tain Time before and after

Bankruptcy, not to give a Preference to Poinder, &c.

tions of Sale of Lands, &c. Inftance of Creditors be

raifed at the

fore the Court of Seffion.

V. And be it further enacted by the Authority aforefaid, That all Actions of Sale of Lands, or other Directions reheritable Subjects, raised or to be raised and purfued at the Inftance of Creditors before the Court of Sef- Jative to Acfion, upon any of the Statutes in that Behalf made, fhall proceed and be carried on to a Conclufion, by actual Sale, as foon as the neceffary previous Steps of a Sale are taken, whether the Ranking of the Creditors is concluded or not, unlefs the Court, upon Application of the Creditors, or any of them, fhall find fufficient Caufe to delay the Sale; any Law or Practice to the contrary notwithstanding: And it fhall be lawful to the Purchafer, at any Term of Whitsunday or Martinmas fubfequent to the Term of Payment of the Price, to lodge the Price, with the Intereft due upon it, in the Royal Bank, or Bank of Scotland, at fuch Intereft as can be procured for it; declaring always, that by fo doing, and giving Notice thereof to the Common Agent, who carried on the Sale, he thall be exonerate, the fame Way as if the Price had been configned in the Hands of the Magiftrates and Town Council of Edinburgh, as required by the fixth Act of the Parliament of Scotland, in the Year one thousand fix hundred and ninetyfive, which Act is fo far hereby repealed; and further declaring, That the Court of Seffion, on the Application of any of the Creditors, thall be empowered to make an Order on the Purchafer to lodge the Price and Intereft at any of the faid Terms fubfequent to the Term of Payment in one or other of the faid Banks; fufficient Intimation being always previously given both to the Purchafer and to the common Agent for the Creditors, that fuch Application is made, in order that all Parties may have an Opportunity to object; and in order to leffen the Number of Adjudications, and confequently the Expence upon a Bankrupt Eftate, the Lord Ordinary officiating in the Court of Seffion, before whom any Procefs of Adjudication is called, fhall ordain Intimation thereof to be made in the Minute Book, and on the Wall, in order that any other Creditors of the common Debtor who may think proper to adjudge his Eftate, and are in Readiness for it, may produce the Inftructions of their Debts, and be conjoined in the Decree of Adjudication; and a reafonable Time, not exceeding twenty Sederunt Days, fhall be given for that Purpofe, unless there be any Hazard from a Delay, which the Court, or the Lord Ordinary thall judge of.

VI. And whereas it is for the Intereft of Commerce, that the Eftates of thofe concerned in Trade and • Manufactures, when they are unable to anfwer the Demands upon them, fhould be difpofed of and dif tributed among their Creditors in the moft expeditious Manner, without abiding the ordinary Forms of "Law,'

Method of
Procedure

therein.

Who may be 'Law,' be it enacted by the Authority aforefaid, That if any Perfon, in that Part of Great Britain called made Bankrupts. Scotland, being a Merchant or Trader in Grofs or by Retail, or a Banker, Broker, or Underwrir, or a Manufacturer, Artificer, or Mechanick, and in general any Perfon who, either for himself, or as an Agent or Factor for others, deals in the Purchase, or Sale, or Workmanship, of Goods or Commodities other than for his own Ufe and Confumption, or the Produce of his own Eftate, or of any Subject held by him as Leffee or Tenant (and particularly excepting Landholders, and Occupiers or Tenants of Land, or other Heritages, Holders of India Stock, or of Stock in any of the Banks established by publick Autho rity, or in the Friendly Infurance Company at Edinburgh against Fire, if fuch Perfons be not otherwife bona fide under one or other of the foregoing Defcriptions), fhall be under Diligence by Horning and Caption for Debt, and fhall either, in virtue thereof, be imprifoned, or retire to a Sanctuary, or hy or abfcond for his perfonal Safety, or defend his Perfon by Force; or being out of Scotland, or not liable to be imprisoned by reafon of Privilege or perfonal Protection, fhall be under Diligence by Charge of Horning, attended with Arreftment, not loofed or difcharged within fifteen Days, or poinding of any Part of his Moveables, or Decree of Adjudication of any Part of his heritable Eftate, for Payment of Debt, at the Inftance of any Creditor, it fhall be lawful to any Creditor of the faid Perfon, whofe Debt hall amount to the Sum of one hundred Pounds Sterling, or any two Creditors whofe Debts fhall amount to the Sum of one hundred and fifty Pounds Sterling, or to any three or more Creditors whofe Debts amount to the Sum of two hundred Pounds Sterling, or upwards, at any Time within four Calendar Months of the laft Step of the faid Diligence, to apply, by fummary Petition, to the Court of Seffion while the Seffion is fitting, or to the Lord Ordinary on the Bills in Time of Vacation, for a Sequeftration of the faid Debtor's Eftate, real and perfonal; and upon Production of the Grounds of Debt aforefaid, and the Creditor or Creditors, at whofe Inftance the Application is made, fwearing to the Verity of their Debts before any Judge Ordinary, or Justice of Peace; and alfo, that they believe the Party against whom the Application is made to be a Merchant, or otherwife under the Defcription above fet forth, and with and under the foregoing Exceptions, the faid Court, or the Lord Ordinary, fhall grant Warrant for citing the faid Debtor, by delivering to him perfonally, or by leaving at his Dwelling-houfe, a Copy of the faid Petition; or, if the faid Debtor is out of Scotland, by affixing Copies upon the Market Crofs of Edinburgh, Pier and Shore of Leith, and alfo leaving a Copy at his laft Dwelling Houfe, or Houfe of Bufinefs, in Scotland, to appear in Court within the Time fpecified in the Warrant of Citation, not being lefs than fix, nor more than forty Days from the Date of the Citation, to fhow Caufe why Sequeftration fhould not be awarded; and at the Time of granting fuch Warrant of Citation, the Court, or the Lord Ordinary, fhall likewife, if desired, grant the ufual Authority, at the Inftance of the Petitioners, for recovering written Evidence of the faid Diligence; and upon Production of fuch Evidence at the Diet of Appearance, if the Debtor fhall not appear either in Perfon, or by his Counfel or Agent, or fo appearing, fhall not inftantly pay or produce written Evidence of the Debt or Debts being fatisfied upon which the Diligences proceeded, and alfo pay or fatisfy the Debt or Debts due to the Petitioner or Petitioners, or fhow other reasonable Caufe why further Proceeding fhould not be had, the Court, or the Lord Ordinary, fhall immediately award Sequeftration of the faid Debtor's whole real and perfonal Estate.

The Court, &c. to appoint a

to name a Factor.

VII. And be it enacted by the Authority aforefaid, That the Court or the Lord Ordinary fhall, by the fame Deliverance which awards the Sequeftration, make an Order upon the Creditors to meet upon a cerMeeting of Cre- tain Day and Hour, being not more than three Weeks from that Date, and as much fooner as Circumditors, who are ftances may permit; the faid Meeting to be at a convenient Place, either where the Bankrupt refides, or where his Bufinefs is or was laft carried on, or as near it as poffible, in order to name an interim Factor upon the fequeftrated Eftate real and perfonal; which Deliverance the petitioning Creditor or Creditors fhall forthwith caufe to be advertised in the Edinburgh Newspapers called The Caledonian Mercury, and Edinburgh Evening Courant, otherwife the whole Proceedings to be null and void; and the faid Court, or Lord Or dinary, fhall at the fame Time grant Commiffion to any refident Magistrate of the Burgh, or to the Sheriff or Stewart Depute or Subftitute of the County or Stewartry where the Meeting is to be held, or, failing them, any Juftice of the Peace to be named by the Court, to attend the faid Meeting of Creditors, and to receive Production of their Grounds of Debt, with the Oaths thereon after inentioned, and to fign the Minutes of the Creditors, along with the Prefes chofen by them; and all Questions at this Meeting fhall be determined by a Majority of the Creditors in Value or Extent of Debt appearing at the faid Meeting, by themselves or others authorised by them, and whofe Grounds of Debt and Oaths thereon are fo produced.

Factor to give
Security.

Court, upon awarding the Sequestration,

may lock up the Bankrupt's Shop, &c.

VIII. And be it enacted by the Authority aforefaid, That the Perfon chofen at the faid Meeting by the Majority aforefaid as interim Factor, fhall be intitled to the Office, and fhall find Security for his faithful Management, to fuch Extent as the faid Majority fhall think reasonable; and the faid Factor fhail ingrofs a Copy of the Minutes of this Meeting in a Book of Sederunt, which fhall be figned by the faid Commiffioner and by the Prefes of the Meeting, and kept by the Factor as his Warrant for acting; and the principal Minutes of the faid Meeting, at which the Factor is appointed, being figned by the faid Commiffioner, by the Prefes of the Meeting, and by the Factor named and accepting of the Office, fhall be tranfmitted by the Commiffioner to the Clerk of the Sequeftration, to be kept among the Records of the Court of Seffion.

IX. And be it fenacted by the Authority aforefaid, That upon awarding the Sequeftration, the Court, or the Lord Ordinary, fhall, if defired by the petitioning Creditors, grant Warrant to the faid Commiffioner to feal up, and caufe put under fafe Cuftody, the Books and Papers of the Bankrupt, and to lock up his Shop, Warehoufe, or other Repofitories, and to keep the Keys thereof, tiH a Factor is named as before directed, to whom they fhall be delivered, and fubject in the mean Time to fuch Orders

3

and

and Directions as the faid Court, or Lord Ordinary, or the faid Commiffioner, may think proper to give, on the Application of any Party concerned; and it fhall be competent for the Court, or the Lord Ordinary, even from the Date of the Application for Sequeftration, to give fuch interim Orders as the Circumftances of the Cafe may require, for preventing Embezzlement or Damage to the Effects, upon Application of any of the Creditors, and Cause fhewn.

X. And be it enacted by the Authority aforefaid, That if any Merchant, or other Perfon defcribed as above, and with and under the aforefaid Exceptions, whether Diligence has been executed against him or not, fhall make a joint Application along with any Creditor whofe Debt fhall amount to the Sum of one hundred Pounds Sterling, or any two Creditors whofe Debts fhall amount to the Sum of one hundred and fifty Pounds Sterling, or any three or more Creditors whofe Debts fhall amount to the Sum of two hundred Pounds Sterling, or upwards, and Oath being made as above to the Verity of these Debts, and the Parties, or their Agent, alfo making Oath, to their Knowledge or Belief, of the Debtor's being under the Description which he affumes, the faid Court, or the Lord Ordinary, are hereby authorised and required to award Sequeftration of the Debtor's Eftate, real and perfonal, in like Manner, and the Procedure fhall go on as before directed.

XI. And be it enacted by the Authority aforefaid, That no Sequeftration fhall be awarded against any Perfon having an Eftate or Effects in Scotland, who at the Time of the Application does not either refide or has a Dwelling Houfe or House of Business there, or at least had fuch Refidence or Dwelling Houfe or Houfe of Business within a Year previous to the Application, unless the Debtor himself, or thofe acting for him, concur in the Application. XII. And be it enacted by the Authority aforefaid, That the Eftates of all Companies carrying on Bufinefs under any of the Denominations or Defcriptions above fet forth, and with and under the above Exceptions, may be fequeftrated upon the Application either of thofe intitled to act for them, with Confent of any Creditor of fuch Company whofe Debt amounts to the Sum of one hundred Pounds Sterling, or any two Creditors whofe Debts amount to the Sum of one hundred and fifty Pounds Sterling, or any three or more Creditors whofe Debts amount to the Sum of two hundred Pounds Sterling, or upwards; or at the Application of fuch Creditor or Creditors themselves whofe Debts are to the Amount already mentioned; in which laft Cafe it must appear, that Diligence has been done against one or more of the Partners of the Company for Payment of a Company Debt, in the fame Way and Manner as is before required to found an Application against Individuals; and in either Cafe, the Procedure hereby directed with regard to individual Debtors fhall be followed out; and it fhall be fufficient to cite the Company, by leaving a Copy at the House or Shop where their Bufinefs is carried on, or where any of their managing Partners refide; or if the faid Houfes and Shop be fhut up or deferted by them, a Copy shall be affixed at the Market Cross of Edinburgh, and Pier and Shore of Leith.

XIII. And be it enacted by the Authority aforefaid, That it fhall be neceffary for the Party applying for the Sequeftration to record the Petition of Sequeftration, and the first Deliverance thereon, in the General Regifter of Inhibitions, within twenty-four Hours after the faid Deliverance is pronounced; and the fame fhall, from the Date of the Application, be held equivalent to an Inhibition against the Debtor, for Behoof of the whole Creditors, in cafe of the Sequeftration being finally awarded; and it fhall not be in the Power of the Bankrupt, after Sequeftration is awarded, to ftop Proceedings by paying off the Debt on which the Diligence and Petition aforefaid did proceed, nor fhall the Proceedings be of any Effect unless the faid Petition and Deliverance are fo registered.

XIV. Provided always, That if the Debtor, against whom Sequeftration has been awarded without his own Concurrence, or if any Creditor who has not concurred in, or confented to the Application, fhall apprehend that the Party against whom it is awarded does not come within the Defcription before given, or falls under any of the Exceptions therefrom, fuch Debtor or Creditor fhall be at Liberty, at any Time within thirty Days after Sequeftration is awarded, to apply to the Court of Seffion, if fitting, or to the Lord Ordinary on the Bills in Time of Vacation, fetting forth the Grounds upon which the Sequeftration ought to be recalled, in refpect of the Defcription not being applicable; and this Petition being intimated to the Party at whofe Inftance the Sequeftration was obtained, or the known Agent of that Party, and a reasonable Time given to make Answers thereto, the Court, or Lord Ordinary, fhall determine fummarily upon the fame, and fhall grant Commiffion, if neceflary, for taking Proof of the Facts; and if upon Evidence it fhall appear that the Perfon against whom the Sequeftration is awarded, does not fall within the Meaning or Terms of this Act, as not being under any of the Defcriptions above fet forth, or as falling under any of the Exceptions therefrom, the Sequeftration fhall be recalled; or, if the Petition is found to be without fufficient Ground, it fhall be difmiffed; but in the mean Time, until this Matter is finally determined, the Proceedings under the Sequeftration fhall go on, as if no fuch Application had been made.

XV. And be it further enacted by the Authority aforefaid, That the faid Factor fhall, immediately after General Meetbeing fo named, be obliged to publifh an Advertisement in the two Edinburgh Newspapers before men- ing of the Cretioned, intimating the Sequeftration, and that a general Meeting of the Creditors is to be held on fuch ditors to be held Day and at fuch Place as the Creditors, at the Meeting before mentioned, fhall have fixed in their Mi- Trustee. nutes (the faid Day being not lefs than four, nor more than eight Weeks after the Advertisement), for the Purpose of chufing a Truftee; and in the mean Time, the Factor fhall enter upon the Management of the Eftate, and ihall, within two Days after his Appointment, apply to the Sheriff or Stewart Depute or Subftitute of the County or Stewartry where the Debtor refides, or where his Bufinefs was carried on, who is hereby authorised and required to name one Day in each of the four fucceeding Weeks to be fet apart for the publick Examination of the Bankrupt and of his Family, or others acquainted with his Bu- Bankrupt, &c.

finefs, to be examineds.

Bankrupt to make a full

Discovery of

his Eftate,

Bankrupt's eath.

Penalty on

fwearing or affirming falfely.

The Book of
Sederunt to be

pe

fincfs, in the Sheriff Court-houfe of the District, a Fee of one Guinea each Sitting being allowed to the Sheriff or Stewart Depute, if he officiates, or half a Guinea each Sitting to the Subftitute; and fuch riodical Meetings being fixed, the fame thall be immediately published by the Factor in each of the two Edinburgh Newspapers before mentioned, by an Advertisement, inviting the whole Creditors to be prefent at fuch Examination, that they may have an Opportunity of putting fuch Questions as fhall be judged of Importance for rendering the Difcovery and Surrender more complete; and the faid Judge thall, if necellary, illue his Warrant for apprehending the Bankrupt, or any of his Family, or others who are to be examined, if within his Jurifdiction, in order to force their Appearance; or if they be without his Jurifdiction, the Court of Seffion, or Lord Ordinary on the Bills, fhall, on the Application of the Factor, grant fuch Warrant for apprehending and bringing them before the Judge, who is to take the Examination, as aforefaid; and if any of thefe Perfons fhall happen to be indifpofed, or otherwife unable to attend at that Time, the Court, or Lord Ordinary on the Bills, may grant Commiffion for examining them elsewhere; and it fhall be competent for the Factor or for the Truftee to apply at any Time for re-examining thofe Perfons, upon due Advertisement given in Manner aforefaid; and the Court, or Lord Ordinary on the Bills, thall likewife, in cafe it be neceflary, grant a perfonal Protection to the Bankrupt, at the Application of the Factor or Trustee, for fuch Time as may be requifite for enabling him to attend the Diets of Examination, or may grant Warrant to Meflengers at Arms, or other Officers of the Law, to bring his Perfon out of Prifon, in order to attend fuch Meetings, and thereafter to carry him back to Prifon.

XVI. And be it enacted by the Authority aforefaid, That the Perfons to be examined, appearing, or being brought in virtue of the faid Warrant, before the Sheriff or Stewart Depute, or Substitute, and in Prefence of the Factor and fuch Creditors as chufe to attend, the Bankrupt shall make a full and fair Difcovery of his whole Eftate, heritable and moveable, wherever fituated, including any Eftate in Expectancy which he may have an eventual Right to by Contract of Marriage, Entail, or otherwife, and fhall exhibit in Writing a full State of his Affairs; and the Judge fhall proceed in the Examination of him and the other Perfons aforefaid; and the faid State and whole Procedure fhall be inferted in the Book of Sederunt, to be fubfcribed by the faid Judge Examinator, and by the Bankrupt, and likewife by the Factor, together with a Lift of Books, Papers, Accounts, Title-deeds, and Documents, found in his Poffeffion, or produced by him, and a Rental of his Lands; all which Books, and other Writings, fhall be delivered over to the Factor; and at the laft of thefe Examinations the Bankrupt fhall take and fubfcribe the following Oath:

.

I

A. B. do, in the Prefence of Almighty God, and as I fhall anfwer to God at the great Day of Judgement, folemnly fwear, That the State of my Affairs, fubfcribed by me, and now delivered up to my Creditors, contains a full and true Account of all the Debts of whatever Nature due to me, and of all my Eftate and Effects real or perfonal (neceffary Wearing Apparel only excepted), as well as of all Claims which I am entitled to make against any Perlon or Perfons whatsoever, and of all Eftate in Expectancy, real or perfonal, which I have an eventual Right to by Contract of Marriage, Deed of Entail, or otherwife, to the best of my Knowledge; and that the faid State likewife contains a full and true Account of all the Debts due by me, or Demands upon me, fo far as I know or can remember, and that I have delivered up the Whole Books, Documents, Accounts, and Papers of every Kind belonging to me, which in any Way relate to my Affairs, and which were in my Poffeffion, or under my Power, and have made a 'full Difclofure of every Particular relating to my Affairs. And further I fwear, That I fhall forthwith reveal all and every other Circumftance or Particular relative to my Affairs, or which may tend to increase or diminish my Eftate, or in which my Creditors may be interested directly or indirectly, which may at "any Time hereafter come to my Knowledge.

So help me GOD.'

And if the Perfon thus called upon is a Member of a Company, and examined upon the Company's Affairs, the Terms of this Oath fhall only be fo varied by the Judge as to make it applicable to the Cafe; which Oath being annexed to the aforefaid Proceedings in the Book of Sederunt, fhall alfo be fubfcribed by the Sheriff or Stewart Depute or Subftitute; and if the Bankrupt be one of the People called Quakers, it fhall be fufficient to take his folemn Affirmation upon the Matters contained in the faid Oath, and likewife in all other Cafes where an Oath is required by this Statute: And all Perfons convicted of taking the above Oath or Affirmation falfely, fhall be held as guilty of Perjury, and of fraudulent Bankruptcy, and punished accordingly, and for ever rendered incapable of holding any Office of publick Truft or Emolument; declaring alfo, That if the Bankrupt fhall wilfully fail to exhibit a fair State of his Affairs, or to make Oath in Terms above fpecified, or to make a complete Surrender, he fhall be confidered as a fraudulent Bankrupt, and punished accordingly, and rendered ever after incapable of holding any Office of publick Truft or Emolument; and in either Cafe fhall forfeit every Benefit or Privilege arifing from the Statute, and be accounted infamous, and incapable of giving Evidence in a Court of Justice, or of fitting or acting on any Affize or Jury.

XVII. And be it further enacted by the Authority aforefaid, That at the General Meeting of the Creditors appointed and advertifed as before, for chufing a Trustee, the Factor fhall exhibit the faid Book of delivered to the Sederunt, to be delivered over to the acting Trustee along with all the Books, Papers, Accounts, Docuacting Trustee, ments, and Title Deeds in his Hands, relative to the Bankrupt's Eftate and Affairs; and the Majority of Creditors in Value or Extent of Debt prefent at this Meeting thall determine who is to be Truftee; but no Creditor thall be entitled to a Vote at this or any other Meeting, who has not, either then or formerly,

along with

other Books,

Accounts, &c.

exhibited

exhibited his Grounds of Debt, with an Oath thereon, as herein after mentioned, and got the fame marked or entered in the Book of Sederunt; and at the faid or any other Meeting it fhall be lawful for Agents or Attornies, having Commiffions either general or fpecial from any of the Creditors, to appear and vote in all Matters wherein their Conftituents themselves if prefent might have voted; and the Creditors may chufe two or more Truftees to act in Succeffion, one failing another by Death, Refignation, or Removal.

XVIII. Provided always, That if the Factor named at the first Meeting is not chofen Trustee, he shall be allowed fuch Gratification for his Trouble, to be retained by him out of the Effects in his Hands, or to be paid by the Trustee, as a Majority of the Creditors in Value at the faid Meeting fhall think reasonable; and the Trustee fhall find Security for his Intromiffions and faithful Management, unless the fame be dif penfed with by Four-fifths in Number and Value of the faid Meeting, the faid difpenfing Refolution to be always ingroffed in their Minutes; and the Trustee fhall be entitled to an Allowance in Name of Commiffion for his Management, on all Sums of Money which he fhall recover, at fuch Rate per Cent. as fhall be adjufted or fixed by a Majority in Value at the faid Meeting, or at any after Meeting of the Creditors advertifed for that Purpofe; and it fhall be competent at any Time for One-fourth of the Creditors in Value to apply fummarily to the Court of Seffion for having him removed, upon Caufe fhown; and a Majority of Creditors in Value, at any Meeting to be advertised for the Purpofe, fhall likewife be entitled to remove, or to accept of the Refignation of any Truftee; and in either of thefe Cafes, or in the Event of the acting Trustee's Death, the next Trustee in Succeffion fhall be entitled to act; and upon Failure of the several Trustees originally named, by Death or otherwife, it fhall be competent to any two of the Creditors to apply to the Court of Seffion, or Lord Ordinary on the Bills, to caufe a Meeting of the Creditors be held, upon due Advertisement, for chufing a new Truftee or Trustees in Succeffion; and in any of thefe Cafes the new acting Trustee fhall immediately call to Account his Predeceffors in Office, or their Heirs and Reprefentatives, and fhall be vested with the fame Powers, and subject to the fame Rules and Regulations, as any former acting Trustee.

XIX. And be it further enacted by the Authority aforefaid, That the Minutes of this Meeting of the Creditors electing a Trustee, or Succeffion of Trustees, fhall be forthwith reported to the Court, or Lord Ordinary on the Bills, by the Truftee who is to act, a Copy of them being previously entered in the Sederunt Book; and the Court, or the Lord Ordinary, fhall then iffue an Order upon the Bankrupt, to execute and deliver, within a certain reasonable Time to be fpecified in the Interlocutor, a Difpofition or Difpofitions making over to the faid Truftee or Trustees in their Order his whole real and perfonal Estate, wherever fituated, and which shall specially defcribe and convey the Subjects fo far as they are known, or fo far as the Trustee fhall think it neceflary, and contain all proper Claufes for effectually vefting the Right in him, with full Powers of Sale, for Behoof of the Creditors; and if the Bankrupt fhall refufe to obey fuch Order, the Court, or the Lord Ordinary, may punish him by Imprisonment; and in that Cafe, or in cafe of the faid Bankrupt being abfent from Scotland, or for any other Reafon not granting fuch Difpofition within the Time that he is ordered by the Interlocutor fo to do, the Court, or the Lord Ordinary, fhall, upon the Application of the Truftee, iffue an Act or Decree, finding the Property of the whole fequeftrated Eftate and Effects real and perfonal, to be in the faid Truftee or Trustees in Succeffion, for Behoof of the Creditors, and adjudging, decerning, and declaring the whole Lands and other heritable Eftate within the Jurifdiction of the Court fpecially enumerated, and which were the Property of the Bankrupt, to pertain and belong to the Trustee or Trustees in Succeffion irredeemably, to the End that the fame may be fold and converted into Money for Payment of the Creditors; which Adjudication fhall have the fame Effect as if the Bankrupt had executed the Conveyance before mentioned; and the Factor originally named fhall immediately deliver over to the Trustee every Part of the Bankrupt's Eftate or Effects in his Poffeffion, and all Securities taken for the fame, or any Part thereof, and pay fuch Balance as may appear to be due by him upon fettling his Accounts; declaring always, that if any Part of the Bankrupt's Property happens to be entailed, the Conveyance to be executed by him, or the Decree of Adjudication to be obtained by the Truftee, fhall only be understood to carry that Right and Interest in the Estate which the Bankrupt himself has, and which his Creditors can validly attach.

XX. And be it further enacted by the Authority aforefaid, That the faid Difpofition of the heritable Eftate, together with the Order of the Court, or Lord Ordinary, on which it proceeds, or failing thereof, the Decree of Adjudication of the Court, or of the Lord Ordinary, fhall, within fixty Days of the Date thereof, be registered by the Trustee in the Register of Abbreviates of Adjudications, and fhall have the Effect to entitle the Truftee, for Behoof of the whole Creditors, to rank in the fame Manner upon the heritable Eftate, as if it had been a proper Decree of Adjudication obtained at the Date of the Interlocutor awarding the Sequeftration, accumulating the whole Debts Principal and Intereft, as at that Period, and adjudging for Security or Payment thereof, fo as to rank pari paffu with any prior effectual Adjudication led within Year and Day of the fame; and the faid Difpofition or Adjudication fhall not be reduceable upon any of the Statutes concerning Bankrupts, nor ftruck at by any Inhibition, or other legal Interpellation; faving however, in the ranking upon the Price, any other Effect which fuch Inhibition or Interpellation may have, with regard to Contractions of the Debtor pofterior to the Date thereof.

How the Titles requifite to veft

heritable Pro

perty fhall be

made up in the

XXI. And be it enacted by the Authority aforefaid, That upon the faid Difpofition, or Decree of Adjudication, the feudal Titles requifite by the Law of Scotland to veft heritable Property, fhall and may be made up either in the Perfon of the Trustee, or in the Perfon of the Purchafer from him, in virtue of fuch Truftee's Conveyance, agreeable to the Forms of the Law of Scotland; and each Trustee fucceeding a prior Truftee, through his Death, Refignation, or Removal, unless substituted to him at his firft Nomination, Perfon of the fhall be vefted in the Right either by Difpofition from the former Trustee, or by Adjudication obtained by Truftce, &c, VOL. IX. the

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