CANTERBURY.

Wellington Independent, Volume XXII, Issue 2569, 10 September 1867, Page 5

CANTERBURY.

THE BANKRUPTCY BILL. , The Canterbury Chamber of Commerce lias issued a report on the new Bankruptcy Bill. Tho Act is generally approved of, but amongst others, they suggest the following modifications ; — " A feature in the proposed Act which your committee consider of great importance has reference to the after acquired property of the bankrupt, and the following amendment is therefore euu'gested : «r— ' That the provision made in part 19 of thNew Bankruptcy Act, whereby the aftere acquired property of the bunkrupt is made liable until his creditors have received lOa in the pound, is inexpedient, in that it creates an invidious distinction, and ia detrimental to

the interests of the community, by reason of the barrier it raises to the future energy and success of an honest insolvent, preventing him from obtaining legitimate assistance, or from doing more thnn gaining a mure Jiving, and in that it would be evaded by dishonost insolvents. That instead of the above piv>vision, the court might have power to attach to tho order of discharge, on sufficient cause being shewn, such conditions as to the liability of future property or earnings, an might seem just, or the case might be met by adopting two classes of certificates, a firstI class certifieateto be a complete dif charge. A i second class ceptiucate to render future proI perty liable to such an extent as the court approved of, but, not to a leas extent thiin 10.s in the pound.' Several mattersof minor importance connected with the Act, appear to your committee deserving of notice. Your committee is of opinion that much advantage 1 would be gained if proper forms of affidavit, notices, declarations, &c, required by different parts of the Act were appended to it. The Gazette notices required by the Act do not appear sufficient for the purpose of publicity. Your committee therefore suggest that whore Gazetting ia mentioned in the Act, there should be added words to the following effect, ' And advertized in at least ono local newspaper approved of for that purpose by the Court." Otago papers contain no news of interest.