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Wednesday, 11 November 1914

Senator GARDINER (New South Wales) (Vice-President of the Executive Council) . - This clause is quite clear and distinct. After notice has been served on the sheriff, that officer is obliged to hand over the proceeds of any sale to the trustee, so that all creditors may be treated alike.

Senator Keating - Read paragraph 1 of clause 86.

Senator GARDINER - To oblige the honorable senator I will. It says -

Where a creditor has issued execution against the goods or lands of a debtor, or has attached any debt due to him, he shall not be entitled to retain the benefit of the execution or attachment against the trustee in bankruptcy, unless he has completed the execution or attachment before sequestration, and before notice of the presentation of any petition by or against the debtor.

The clause which we are now considering contains an exactly similar provision. It will prevent the smart man from getting in first and thus securing the whole of the proceeds of the sale.

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