Page 8 Advertisements Column 6

New Zealand Herald, Volume XLIII, Issue 13304, 10 October 1906, Page 8

i ' ..■■'•' •' ' . ' "■■' 'ij The Mercantile Gazette directs attention * ...' tj a matter which should be taken' in hand • by the Legislature. Under the old Debtors 1 and Creditors Act of 1876 every bankrupt ,; .' .. was discharged by the.' operation of the ..; statute after the lapse of three years from " • if. ' the day upon which he was adjudicated* , Hut when the Debtors and Creditors Act . was repealed by the Bankruptcy Act of, ' 1883 the section under which the" bankrupt ! became discharged at the expiration of the '"' V third year was not re-enacted arid since then '~ * , every bankrupt remains a bankrupt until he ' ' has received his discharge iii open court. In consequence of this the Gazette thinks it is not misstating the figures when it savs that 75 per cent, of those who have become * i: bankrupt since the official assignees came into office are undischarged. This is held to be most undesirable in the interests of the community, no good purpose being served' ' ■ in permitting a considerable section of our population to remain under this disability. '•■:.■" . ' .-. ■-. .. :'■,■■.■■■■■■ '■•.'•■.:..." ■: .. ■-■■'■, .J. ;:• wf ! E;'--?;B ■• . ■■-■■■ .-. ; •.-. ■■ , '■..,■■.-:>^mm