Private Assignments.

Opunake Times, Volume I, Issue 23, 18 September 1894, Page 4

Private Assignments.

The Minister for Justice is introducing a Bankruptcy Act Amendment Bill, to provide that any deed of assignment shall be wholly void unless expressly made in favor of at least two trustees who are also creditors, and that provision be made that every claim not exceeding A’e, as well as every debt for wages of any amount, bo paid in full. The deed of assignment must be registered nudcr the Chattels Transfer Act, and within seven days of its execution the trustees must advertise the fact, and call i meeting of creditors. Every deed of assignment wiy be liable to a ho stamp duty, and must be dated on the day on which it was executed. Every debtor making such a deed shall submit to public examination before the Court, as if he were a bankrupt. Imprisonment for not' more than two years, with or without hard labor. provided as the penalty for any ‘ d against the Act, as though *’ nce in g debtor were a bank*' , ■ lie a3 ® l S n ' 187 and 141 to U* f Sections Act are made f ‘J 8 Bankruptcy eating as- T y m? de £Ki ra . e ? e ‘ ended -d? nments * The Bill is mvirtually to put an end to priv6 assignments. It also clears up obscure provisions of the Bankruptcy Act regarding the status of Deputy Assignees, who are ia it empowered to act as though they were Official Assignees. The costs of petitioning lebtors under the Bankruptcy Act are o be limited to costs not paid before bankruptcy. Discharge shall not re.eaae a bankrupt from any debts due to the Crown.