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Wednesday, 23 March 1966

Mr SNEDDEN - I move-

1.   At the end of clause 205 add the following sub-clause - " (8.) A failure by the sheriff to comply with a provision of this section does not affect the title of a person who purchases property of a debtor in good faith under a sale by the sheriff in pursuance of a process of execution issued by or on behalf of a creditor.".

2.   In clause 218, sub-clause (1.), paragraph (a), sub-paragraph (ii), after " Gazette ", insert " and in such other manner, if any, as is prescribed ".

3.   In clause 254, sub-clause (4.), omit " Treasurer " first occurring, insert " AttorneyGeneral ".

4.   In clause 254, sub-clause (4.), omit " Treasurer " second occurring, insert " AttorneyGeneral ".

5.   In clause 265, sub-clause (9.), omit " subsection (3.) or (5.)", insert "paragraph (c) or (e) of sub-section (1.) or sub-section (3.), (5.) or (8.) ".

6.   In clause 268, sub-clause (8.), after " under ", insert " paragraph (b) or (c) of sub-section (2.) or ".

7.   At the end of clause 278 add the following subclause: - " (3.) In this section, 1 modification ' includes the addition or omission of a provision or the substitution of a provision for another provision.".

8.   In clause 295, sub-clause (3.), omit " Treasurer " first occurring, insert " AttorneyGeneral ".

9.   In clause 295, sub-clause (3.), omit "Treasurer" second occurring, insert "AttorneyGeneral ".

ID. Add at the end of the First Schedule - " Bankruptcy (Decimal Currency) Act 1965 ".

As to the first amendment, if a sheriff holding property under a writ of execution sells the property notwithstanding that be has received notice of the presentation of a petition in bankruptcy against the execution debtor, a purchaser in good faith may nevertheless receive a good title. The purpose of the amendment is to make the same provision in the case where a sheriff sells goods seized under a writ of execution notwithstanding that he has received notice that the execution debtor has signed an authority for the calling of a meeting of his creditors under Part X of the Bill (Arrangement with Creditors without Sequestration), or of the passing of a special resolution at such a meeting requiring the debtor to execute a deed of assignment or of arrangement or accepting a composition.

The purpose of the second amendment is to enable provision to be made in the rules for the making of a deed of assignment or a deed of arrangement to be advertised in a daily or a local newspaper. The purpose of the third and fourth amendments is to enable payment to a person in whose favour the court makes an order that he is entitled to money that has been paid into Consolidated Revenue as an unclaimed dividend to be made by my Department instead of by the Treasury. This amendment has been sought by the Treasury, because it would be administratively more convenient for the Attorney-General's Department, which holds all the bankruptcy records, to make the payment.

As clause 265 stands in the Bill, it is a defence to a charge that the bankrupt has failed to comply with certain directions of his trustee if he proves that he did not intend thereby to defraud any of his creditors. The absence of an intention to defraud creditors is also a good defence to a charge of incurring debts without any reasonable expectation of being able to pay them. The defence is not appropriate to these charges, and the purpose of the fifth amendment is to eliminate this ground of defence.

The effect of the sixth amendment is like that to clause 265. Clause 265 applies to bankrupts and clause 268 applies to debtors who have entered into a deed of assignment or of arrangement, or who have made a composition with their creditors. The purpose of the seventh amendment is the same es the addition of new sub-clause (4.) in clause 7. The purpose of the eighth and ninth amendments is to allow payments out of consolidated Revenue to a person entitled to moneys paid into Consolidated Revenue from the Bankruptcy Estates Account to be made by my Department. These amendments follow on the amendments to clause 254. The purpose of the tenth amendment is to include in the Acts to be repealed the Bankruptcy (Decimal Currency) Act 1965.

Amendments agreed to.

Clauses and Schedules, as amended, agreed to.

Suggest corrections