And be it Enacted, That any incumbrancer, not being the first incumbrancer on any land, or on any lease of land in Ireland, who shall be desirous of exercising the powers given to a first incumbrancer under this Act, and for that purpose shall be willing to redeem the prior incum5 brance, or all the prior incumbrances, if more than one, may apply by petition in a summary way to the Court for liberty so to redeem such prior incumbrance or incumbrances, and it shall be lawful for the Court, upon such petition, to make such order and give such directions in all respects as might have been made or given in a suit by such petitioning 10 incumbrancer for redemption of such prior incumbrance or incumbrances; and in case the amount which shall be owing to any incumbrancer, whose incumbrance shall be sought to be redeemed as aforesaid, shall not be admitted or agreed upon, it shall be lawful for the Court, if it shall think fit, upon payment into Court by the petitioner of the money claimed to be due on such incumbrance, to order that the petitioner shall, for the purposes of all proceedings in Court under this Act, and for the purpose of sales without the order of the Court under this Act, stand in the place of the owner of such incumbrance, without prejudice to the rights of the petitioner and of the 20 incumbrancer, whom he shall seek to redeem upon taking the account of the incumbrance: Provided always, That it shall not be lawful upon any such petition to question the validity or title of any such prior incumbrance.

15

25

And be it Enacted, That no petition shall be presented for confirming and carrying into execution a contract for sale or for a sale by order of the Court under this Act by any assignee of any bankrupt or insolvent debtor, without the consent thereto of the major part in number and value of the creditors assembled at a meeting duly convened for that purpose first had and obtained: Provided 30 nevertheless, That where any such petition shall have been presented without such consent having been first had and obtained, such consent may by leave of the Court be given subsequently, so as to render valid the proceedings under such petition.

35

CLAUSE (Q.) Power to

second or sub

sequent in

cumbrancer to

redeem the prior incumbrances.

68. No Petition for Sale by Assignees of Insolvents, Bankrupts or without consent of major part of

Creditors.

69. Annual Returns to be

Parliament.

And be it Enacted, That in the month of February in every year, if Parliament be then sitting, or if Parliament be not sitting, then laid before within Fourteen Days after the next meeting of Parliament, a Return shall he laid before both Houses of Parliament, showing the total amount or quantity in statute acres of all lands sold under the provisions of this Act during the year ending the Thirty-first day 40 of December then last past, together with a statement of the total annual rent of such lands (so far as the same shall have been shown in the proceedings), the total amount of incumbrances which affected such lands at the time of the applications for the sale thereof

70. CLAUSE (S.)

71.

Act to extend to Ireland only, &c.

respectively under this Act, the total amount of purchase money
for the same, together with the total amount of all such law-costs
incurred as shall have been paid out of such purchase money, and
of all other charges and expenses which may have been paid or
deducted from the proceeds of such sales under the order of the 5
Court.

And be it Enacted, That in citing this Act in other Acts, and in legal instruments, it shall be sufficient to use the expression "The Irish Incumbered Estates Act."

And be it Enacted, That this Act shall, except so far as the 10 special provisions of the same otherwise require, extend only to Ireland, and may be amended, altered or repealed by any Act to be passed in this Session of Parliament.

BILL

To authorize the Application of Part of the Unclaimed Money in the Court for the Relief of Insolvent Debtors, in enlarging the Court-house of the said Court.

[Note.-The Words printed in Italics are proposed to be inserted in the Committee.]

5

W

c. 110.

HEREAS by an Act passed in the second year of the Preamble: reign of Her present Majesty, intituled, "An Act for 1 & 2 Vict., abolishing Arrest on Mesne Process in Civil Actions except in certain Cases, for extending the Remedies of Creditors against the Property of Debtors, and for amending the Laws for the Relief of Insolvent Debtors in England," after noticing that it might happen that money might remain in the Court for the Relief of Insolvent Debtors, produced by the estates and effects of Insolvent Debtors who had taken the benefit of that or some other Act for the relief of Insolvent 10 Debtors, which had not been or might not be claimed by the assignees or creditors of such Insolvents, it was enacted, that it should be lawful for the said Court to cause the same or any part thereof to be invested in Government Securities, and to apply the interest and profit arising therefrom towards defraying the expenses of the said Court: 15 Provided that no such money should be so invested until the same should have been in the hands of the said Court for Twelve Months at the least:

And whereas the sum of Sixty-seven thousand Pounds or thereabouts, remaining unclaimed in the said Court, has been invested in Exchequer Bills under the said recited provision :