THE NEW ACT FOR THE FACILITATING THE ADMINISTRATION OF INSOLVENT ESTATES.

Otago Daily Times, Issue 365, 20 February 1863, Page 5

THE NEW ACT FOR THE FACILITATING THE ADMINISTRATION OF INSOLVENT ESTATES.

The following correspondence, concerning i the proclamation of the Debtors and Credi- ' tors' Act, 1862, has been placed at our disposal for publication, by which it will be seen that 1 it is proposed to bring it into operation almost . immediately:— Dunedin, 21st January, 1863. Sir, —I take the liberty of respectfully calling: , yonr attention to the fact of the Debto.-s' and Creditors' Act, passed at the last General As- ; sembly, being still inoperative, in consequence of ; its not having been proclaimed in the Government ] Gazette, as required by the LIII Clause of the act. • I trust that as one of the members of Assembly ' who took particular interest in the passage of . this act, I may be permitted to press upon you the importance of the act being at once brought into operation. In the absence of any very co- ] gent reasons to the contrary,! may state my belief that the mere fact of tlxis act having been passed had the effect of keeping in check that class of traders from whose depredations it was intended to prove a protection. Now that the proclamation of the ace appears indefinitely postponed, dishonest traders will become bolder in their operations. Already several cases have occurred in which the assistance of the act could have been sought if it had been available, and if matters remain as they are it will be ""mpossible to estimate what may bo the damage resulting to commercial interests in this Province, not alone in individual losses, but in general loss of credit to the community. Any imperfection which may be found in .the act (if such be the reason of suspension from operation) could weigh as nothing in comparison with evils arising from the want of all law on the subject. I have the honor to be, Sir, Your most obedient servant, ; E. B. Cargiia. To the Honorable the Attorney-General for New Zealand, Auckland. Colonial Secretary's Office, Judicial Department, Auckland, 4th February, 1863, Sir,—l have the honor to acknowledge the receipt of your letter dated 21st January, addressed to the Attorney General, on the subject of the "Debtors and Creditors Act, 1862." The Government is fully alive to the importance of bringing this Act into operation without delay, and now awaits only the Rules for, the conduct of business under the Act. The Conference of Judges now sitting at Christchurch has these Rules under consideration ; and as. soon as their Honors' Report on the subject is in the hands of the Government, no time will be lost in bringing the Act into immediate operation. I have the honor to be, Sir, Your most obedient servant, Alfred Domett. E. B. Cargill, Esq., M. G. A., Dunedin.