Page images
PDF
EPUB

No. III.

3 & 4 W. 4,

c. 47.

Clerks of the

on circuit in England: Provided always, That nothing herein containe
shall be construed to prevent the said first-mentioned court from orde
ing any such prisoner to be brought before the justices of the peace No.
the said act mentioned in cases where the said court may see fit so to Ga
and that the matters of any such petition may be heard by such justices
and all other proceedings had therein, in manner directed by the s
first-recited act.

E

IV. That the clerks of the peace for the several counties within the the peace of princi- principality of Wales, or their deputies, shall bring to the place of hear R pality of Wales ing of any petition of any such prisoner before such judge or commis to bring to the sioner the duplicate of petition, and schedule, books, papers, and wr place of heartings lodged with him, as by the said first-recited act the clerks of the ing petitions, the duplicate of peace in England and their deputies are required to do before the com petition, missioners going circuits in England; and that such clerks of the peace schedule, &c. in Wales, or their deputies, shall do all such other acts at the time of such hearings, and be entitled to such fees and allowances, as are required of or allowed to clerks of the peace in England and the be deputies.

Treasury may direct payment of travelling expences of judges, &c.

Court of review may direct registrars

or deputy registrars to attend the said judges.

Powers given

the court of bankruptcy.

[ocr errors]

V. That it shall and may be lawful for the lord high treasurer or lord commissioners of his Majesty's treasury of the united kingdom of Grea Britain and Ireland for the time being to direct that such sum or surr shall be paid as may appear fit and necessary for the defraying the tra velling expences of such judge or judges, with their or his registrar ee deputy registrar, and other necessary officers, in the execution of ther: duties under this act.

VI. That it shall and may be lawful for the court of review in bank ruptcy to order and direct any one or more of the registrars or deputy registrars of the said court of bankruptcy to attend any one or more the said judges in the discharge of their duties under this act, and to give such attendance and perform such duties as the said court of review th may by any order direct.

ce

VII. That it shall be lawful for his Majesty, his heirs and successors, in to his Majesty by warrant under his royal sign manual, from time to time to authorize with respect to any one or more judge or judges of the said court of bankruptcy t exercise the same jurisdiction and powers in all respects as by the sa secondly-recited act is and are given to any three of such judges; and also by any such or the like warrant to direct at what times the said court of review, and the judges or commissioners of the said court of bankruptcy, and every of them, shall respectively hold their sittings.

Court of review

may make or ders as to taxing of costs.

VIII. That it shall and may be lawful for the said court of review to order that any costs, which by the said secondly-recited act are directed to be taxed by one of the masters of the high court of chancery, sha!! and may be taxed by one of the registrars or deputy registrars of the said court of bankruptcy.

[ocr errors]

No. IV.] 5 & 6 W. IV. c. 29.-An Act for investing in
Government Securities a Portion of the Cash lying unem-
ployed in the Bank of England belonging to Bankrupts'
Estates, and applying the Interest thereon in discharge of
the Expences of the Court of Bankruptcy, and for the
Relief of the Suitors in the said Court; and for removing
Doubts as to the Extent of the Powers of the Court of
Review and of the Subdivision Courts.

[21st August 1835.]

WHEREAS by an act passed in the first and second years of the 1 & 2 W. 4, reign of his present Majesty, intituled An Act to establish a Court in c. 56. Bankruptcy, it was enacted, that it should be lawful for his Majesty, his eirs and successors, to establish a court of judicature, which should be called "The Court of Bankruptcy," and to appoint judges, commissioners, and other officers of the said court; and that it should be lawful for the lord chancellor to choose official assignees to act in all bankruptcies prosecuted in the said court, and to collect the effects of bankrupts, and to pay the proceeds thereof into the bank of England to the credit of the accountant general of the high court of chancery, subject to the order of the lord high chancellor, or the said court or any judge thereof, as therein mentioned; and it was further enacted, That certain fees and sums of money specified in the said act should be received by the lord chancellor's secretary of bankrupts, and paid by him into the bank of England, to the credit of the said accountant general, to an account to be intituled "The Secretary of Bankrupts Account," and that there should be paid out of the monies standing to that account certain yearly sums specified in the said act as and for salaries to the judges and other officers of the said court for the time being; and it was further enacted by the said act, that certain annuities, the amount thereof to be ascertained and certified as in the said act is mentioned, should be respectively paid to the patentee for the execution of the laws and statutes concerning bankrupts, to certain persons then acting as commissioners of bankrupt in London, and to certain officers of the lord chancellor and of the high court of chancery mentioned in the said act, in lieu of and as compensation for certain fees and emoluments accustomed to be received by them, and which would by the provisions of the said act be wholly discontinued and abolished, out of the monies and securities standing to an account to be opened by the said accountant general, to be intituled The Secretary of Bankrupts Compensation Account;" and that certain fees and sums of money specified by the said act should be paid by the said official assignees into the bank of England to the credit of the said accountant general, to be carried to the said accounts respectively: And whereas his Majesty did, by virtue and in pursuance of the said act, establish the said court of bankruptcy, and did appoint judges and commissioners and registrars and deputy registrars of the said court: And whereas official assignees have been chosen by the lord chancellor to act in bankruptcies as aforesaid: And whereas the amount of certain annuities have been duly ascertained and certified, in pursuance of the said act, to be due and payable to the persons therein mentioned, in lieu of the fees and emoluments aforesaid: And whereas an account has been opened in the bank of England by the said accountant general, intituled The Secretary of Bankrupts Account," and another account has been opened in the bank of England by the said accountant general, intituled The Secretary of Bankrupts Compensation Account:" And whereas the said official assignees have paid into the bank of England in the name of the said accountant general divers large sums of money, which have been placed to the credit of

[ocr errors]
[ocr errors]

No. IV.

5 & 6 W. 4,

c. 29.

the several bankrupts estates: And whereas there now is and has beet for a long time a very large sum of money belonging to bankrup estates, or to suitors in matters of bankruptcy, standing in the name de the said accountant general, which lies dead and unemployed in the sa bank of England: And whereas it was necessary for the said accountan general to appoint certain persons to act as clerks in the performans and execution of the duties imposed upon him by the said act; but a provision is made by the said act for the salaries of the said clerks and the other expences necessarily incident to the performance of the said a duties, other than out of certain fees directed to be paid to the chie registrar of the said court: And whereas the business arising from the duties imposed upon the said accountant general by the said act is gra dually increasing, and the present establishment of clerks is likely to become inadequate to transact the same with that accuracy and despatc which is necessary for the public service: And whereas the payment the fees authorized by the said act, or a part thereof, will become unne cessary, and the same may be discontinued if another fund is provide for the payments now made out of the said fees by the authority of the said act: Be it therefore enacted, &c., That out of the cash belonging th money in the the estates of bankrupts, or to suitors in matters of bankruptcy, the bank belonging now lies or shall hereafter lie dead and uninvested on securities in t to bankrupts' bank of England, in the name of the said accountant general, or of the estates to be carried to an accountant in bankruptcy hereafter mentioned, any sum or sums ne account to be exceeding in the whole the sum of three hundred thousand pounds shi and may, by virtue of any order or orders of the lord high chancellor be made for that purpose, from time to time be placed out in one ent sum or in parcels, in the name of the said accountant general or of the said accountant in bankruptcy, after the appointment of the said las mentioned accountant, on such government or parliamentary securitis as in and by such order or orders shall be directed; and such securitie shall be carried to an account to be intituled "The Bankruptcy Fun Account," subject to such rules and orders as the lord high chancel shall think fit to prescribe for the purposes herein mentioned.

Part of the

called." The Bankruptcy

Fund Account."

Sum advanced to credit of bankrupts' compensation

account to be

repaid by order of lord chancellor.

Lord chancel

lor to appoint accountant in

bankruptcy.

II. And whereas the monies and securities standing to the credit the said account, intituled "The Secretary of Bankrupts Compensation Account," were in the month of August one thousand eight hundre and thirty-four found inadequate to meet the several payments then du and payable thereout, and the sum of two thousand four hundred pound was, on application to the lords commissioners of his Majesty's treasury then advanced and paid by them, through the lord chancellor's secr tary of bankrupts, into the bank of England to the credit of the sa account, for the purpose of enabling the several payments then due to be paid and discharged to the parties entitled thereto; but no power of authority exists under the provisions of the said first-recited act, otherwise, for the repayment of such sum out of the monies and sect rities standing to the credit of the said account; be it therefore enacted That it shall be lawful for the lord high chancellor to order that the said sum of two thousand four hundred pounds so advanced and paid by the lords commissioners of his Majesty's treasury to the credit of the sa account, intituled "The Secretary of Bankrupts Compensation Ac count," shall be repaid out of the monies and securities which now are or hereafter may be standing to the credit of such account, and the same shall be repayable and repaid accordingly, and until so repaid be considered a charge on such account; any thing in the said first-recited or other act or acts contained to the contrary notwithstanding.

III. And whereas from the increased amount of the funds belonging to bankrupts estates, and the large number of accounts to which such funds belong, and which are daily augmenting, it appears that such funds and such accounts cannot be properly protected and managed by the said accountant general of the high court of chancery, and it is expedient therefore that an officer experienced in and conversant with

No. IV.

c. 29.

e mode of keeping accounts, to be called "The Accountant in Bankuptcy," shall be forthwith appointed to superintend and control the 5 & 6 W. 4, ire and management of the said funds; be it therefore enacted, That shall be lawful for the lord high chancellor for the time being to Lominate from time to time as occasion may require some fit and proper erson to be the accountant in bankruptcy; which officer so to be ppointed shall hold his office during good behaviour, notwithstanding he demise of his Majesty, or any of his heirs or successors: Provided Iways, that it shall be lawful for the lord high chancellor by any order ɔ remove any such officer for some sufficient reason to be in such order xpressed.

IV. That at any time after the appointment of the said accountant in Bankrupts' ankruptcy it shall and may be lawful for the lord high chancellor, by estates to be ny general or other order or orders, to direct that the whole or any part transferred into of the cash, funds, or securities belonging to bankrupts' estates or to the name of the uitors in matters of bankruptcy, and then standing in the name or to accountant in he credit of the said accountant general of the high court of chancery, bankruptcy. it the bank of England, to the credit of any bankrupt's estate, or of any Assignee or assignees of such estate, or in the matter of any bankruptcy, De forthwith paid and transferred into the name and to the credit of the said accountant in bankruptcy; and all such payments or transfers as how are or heretofore have been made into the bank in the name or to the credit of the accountant general of the high court of chancery in matters of bankruptcy shall, from and after the appointment of the said accountant in bankruptcy, be made in the name or to the credit of the said accountant in bankruptcy; and all cash, funds, or securities to be so paid or transferred as aforesaid shall be subject to such and the like rovisions, regulations, rules, and orders as the same are or would have been subject to if paid or transferred in the name or to the credit of the said accountant general of the court of chancery, except as the same may be altered by this act, or any rule or order to be made by the lord high chancellor in respect of the same.

V. And whereas by an act passed in the sixth year of the reign of his So much of late Majesty king George the Fourth, intituled An Act to amend the Laws 6 G. 4, c. 16, relating to Bankrupts, it is amongst other things enacted, that the assig- as directs the nees shall file a certificate in the office of the lord chancellor's secretary filing of the of bankrupts, containing an account of the names of creditors to whom certificate and unclaimed dividends are due, and of the amount of such dividends; the investment, and power is thereby given for the investment of such dividends; and &c. of unafter the expiration of three years the lord chancellor is empowered to order the same to be divided amongst and paid to the other creditors in manner therein mentioned; be it enacted, that so much of the said act as directs the filing of the said certificate, and the investment, division, and payment of such unclaimed dividends, be and the same is hereby repealed.

claimed dividends, repealed.

countant gene

VI. That all dividends unclaimed as herein-after mentioned, and also Unclaimed diany undivided surplus of a bankrupt's estate, over and above the amount vidends to be finally directed to be divided amongst the creditors of any bankrupt, paid into the shall be paid into the bank of England to the credit of the accountant bank to the general of the high court of chancery, or of the accountant in bank- credit of acruptcy, when such last-mentioned officer shall have been appointed, to ral, or when be carried to an account to be entitled "The Unclaimed Dividend appointed, to Account," subject to the order of the lord high chancellor, or of the the accountant court of review in bankruptcy, or of any commissioner of the said court, in bankruptcy. for the payment thereout of any dividend or dividends due to any creditor or creditors, and subject also to the order of the lord chancellor for the laying out and investment thereof in the purchase of government or parliamentary securities, which securities shall be carried to the before-mentioned account to be intituled "The Bankruptcy Fund Account," and shall be subject to such rules and regulations as the said lord chancellor shall direct: Provided always, That

No. IV

5 & 6 W. 4,

c. 29.

How un

claimed dividends, &c. in

the hands of

assignees to be disposed of.

any order of any commissioner for payment of any dividend, unde the provisions aforesaid, shall be subject to appeal to the said courte

review.

VII. That if any assignee under any commission of bankrupt or fate Tes in bankruptcy now issued or hereafter to be issued shall have, either in his own hands, or at any bankers, or otherwise subject to his orde or disposition, or shall know that there is or are in the hands or subjec to the order and disposition of himself and any co-assignee or co-asy signees, or of any or either of them, any unclaimed dividend or divines dends amounting in the whole to the sum of twenty pounds, or any suc undivided surplus as aforesaid amounting to the sum of twenty pounds such assignee shall, as to any such now existing unclaimed dividen or dividends, within one year after the passing of this act, and as t any future dividend or dividends within three calendar months na after the expiration of one year from the time of the declaration and order of payment of such future dividend or dividends, either pay thes same to the creditor or creditors or other the person or persons entit to the same respectively, or cause a certificate thereof respectively to e filed in the office of the lord chancellor's secretary of bankrupts, co taining a full and true account of the name or names of the creditor creditors to whom such unclaimed dividend or dividends is or are spectively due, and of the amount of such dividend or dividends spectively; and shall in like manner, as to any such now existing divided surplus as aforesaid, within one year after the passing of th act, and as to any such future undivided surplus as aforesaid with three calendar months next after the expiration of one year after the X final declaration of dividends, cause a certificate stating the full anden true amount of such surplus to be filed in the office of the said secrsat tary of bankrupts; and every certificate to be filed as aforesaid shall be se signed by the assignee or assignees filing the same; and every assignet anti who shall, according to the provisions of this act, be bound to file sucgo certificate as aforesaid, and who shall make default in filing the same er shall be charged, in account with the estate of the bankrupt, with inay terest upon the amount of such unclaimed dividend or dividends ch undivided surplus as aforesaid, to be computed from the time at whic such certificate is hereby required to be filed, at the rate of five pounds per centum per annum, for such time as he shall thenceforth, either solely or together with any co-assignee or co-assignees, or other perso or persons, retain such dividend or dividends or undivided surplus, a the case may be, and also with such further sum as the lord chancellor or the court of review shall direct, not exceeding in the whole at the rate of twenty pounds per centum per annum, to be computed from the time aforesaid; and every assignee shall, within one year next after the filing of any such certificate as aforesaid, pay or cause to be paid into the bank of England to the name of the accountant general of the high court of chancery, or of the accountant in bankruptcy, when such las mentioned officer shall have been appointed, to be carried to the said account to be intituled "The Unclaimed Dividend Account," the ful amount of the unclaimed dividends mentioned in such certificate, or s much thereof as shall not have been then paid to the creditor or cred tors or other person or persons entitled thereto, and also the full amount of such undivided surplus as aforesaid; and if any assigne shall make default in such payment it shall be lawful for the lord chan cellor or the said court of review, on petition or otherwise, to order tha such sum or sums be forthwith paid into the bank of England in man ner aforesaid, together with such further sum to be charged on such assignee or assignees, or other party or parties personally, as to the said lord chancellor or to the said court may seem fit, not exceeding at and after the rate of twenty pounds per centum per annum on the sum or sums so withheld, to be computed from the fillng of such cer tificate up to the time of payment of such sum or sums, and also to make

« PreviousContinue »