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Friday, 23 October 1914

Senator KEATING (Tasmania) . - This form of drafting has thoroughly commended itself. It is far more clear than the old form, under which everything was run into a long, continuous paragraph. As an illustration, paragraph 2 sets out that at the hearing the Court (a) shall require proof of the debt, service of the petition, and act of bankruptcy; (b) if satisfied with the proof, may make a sequestration order. If all that were run into a long paragraph one would have to read and re-read it to make sure that he had omitted nothing, but as drafted it is simplicity and convenience itself.

Clause agreed to.

Clauses 54 to 61 agreed to.

Clause 62-

(1)   Where a sequestration order is made against a debtor, he shall make out and submit to the Official Receiver a statement of his affairs in the prescribed form, verified by affidavit, and showing -

(a)   the particulars of his assets, debts, and liabilities;

(b)   the names, residences, and occupations of his creditors;

(c)   the securities held by them respectively, with the dates when they were given; and

(d)   such other information as is prescribed or as the Official Receiver requires.

(2)   The statement shall be submitted within the following times, namely : -

(a)   If the order is made on the petition of the debtor, within three days from the date of the order.

(b)   If the order is made on the petition of a creditor, within seven days from the date of the order.

Provided that the Eegistrar may, in either case, for special reasons, extend the time.

(3)   Any person stating in writing that he is a creditor of the bankrupt may, personally or by his agent, inspect the statement at all reasonable times, and make a copy thereof, or extract therefrom, but any person untruthfully stating himself to be a creditor or agent shall be guilty of a contempt of Court, and shall, on the application of the trustee, be punishable accordingly.

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