BANKRUPTCY AMENDMENT

Evening Post, Volume CIV, Issue 28, 2 August 1927, Page 15

BANKRUPTCY AMENDMENT

The Council of tho Wellington Chamber of Commerce at its meeting last week considered the Bankruptcy Amendment Bill before Parliament. The Chambers of Commerce throughout New Zealand have been pressing for a revision of the bankruptcy law for a number of years, and it was very satisfactory that the Government had at last taken the step to bring in amending legislation. A special committee of the Wellington Chamber prepared v report in 1924 incorporating suggestions which were later adopted by the Conference of New Zealand Chambers, and many of these suggestions have been incorporated in the new Bill. However, it is regretted that the Bill does not provide for the appointment of private trustees m bankruptcy on the lines of the English Act, or for stricter provisions us to the keeping of books of account, and the Bill lias been referred to one of the chamber's committees for report. Some comment has appeared in the Press in regard to the proposed prohibition of publication of reports of examination of bankrupts except with the special consent of the Court or of the Assignee or Magistrate us the case may be, and in discussing this, councillors were of the opinion that it would be preferable if the onus were placed upon the counsel of the bankrupt to apply for suppression of reports. In discussion it was mentioned that amongst the legislation to be brought bofore Parliament this session was v Bill proposing tho cancellation of the privilege of a nominee voting at local body elections on behalf of any.company, firm, or parlcrship who may be entered as ratepayers' upon municipal rolls, and it was decided that, if legislation was brought down to withdraw this privilege, the matter would be further considered.