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BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - LONG TITLE

An Act to amend the laws relating to bankruptcy and to debtors in
Northern Ireland, and for purposes related to or incidental to the
matters aforesaid.{1}
[11th July 1929]
PART I$$A

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 2
Deeds of arrangement.

2.(1) Where a debtor has entered into a deed of arrangement for
the benefit of his creditors generally, to which the Deeds of
Arrangement Act, 1887, as amended by the Deeds of Arrangement
Amendment Act, 1890, applies, and the following conditions have been
complied with, namely:

(a)the debtor has secured the assent to such deed of three-fifths
in number and value of those of his creditors to whom he is
indebted to the amount of ten pounds and upwards, the assent of
any creditor being established by his executing the deed of
arrangement or sending to the debtor or the trustee appointed by
the deed his assent in writing attested by a witness; and

(b)the debtor or the trustee under the said deed within one month
from the date of the first execution by him or any creditor of
the deed of arrangement, or within such further period as may be
allowed by order of the court, applies to the court and obtains an
order of the court declaring that he has obtained the assent
mentioned in the preceding paragraph, and that in all the
circumstances of the case, the proposals contained in the deed of
arrangement are, in the opinion of the court, reasonable and proper;
and

(c)the application referred to in the preceding paragraph has been
made on notice to all the creditors given and vouched in the same
manner as notices of sittings in arrangement matters, and for this
purpose the debtor has filed in the office of the court a copy of
the debtor's affidavit filed by him in compliance with sub-section
(1) of section six of the Deeds of Arrangement Act, 1887;

(2) In case any creditor shall, prior to the making of the
application referred to in paragraph (b) of the preceding
sub-section, or pending the hearing thereof, file a petition in
bankruptcy against the debtor, the court may, on the application of
the debtor or the trustee under the deed of arrangement, stay
further proceedings on foot of such petition, or extend the time
for showing cause against the adjudication thereunder, upon such
terms as to costs or otherwise as to the court shall seem fit,
and if the court shall make such an order as referred to in
sub-section (1) of this section, further proceedings on foot of any
such petition shall thereupon be stayed without further order, or if
adjudication has taken place thereon such adjudication shall stand
annulled, but in either event upon such terms as to costs or
otherwise as to the court shall seem fit.

S.3 amends s.120 of 1857 c.60. S.4 amends ss.149, 150 of 1857
c.60; s.61 of 1872 c.58

Repeal and re-enactment with amendments of 1857 c.60, ss.346 and
347, etc.

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 5

5.(1) Sections three hundred and forty-six and three hundred and
forty-seven of the Act of 1857 shall cease to have effect and the
following provisions shall have effect in lieu thereof:

"At such sitting or at any adjournment thereof the creditors shall
prove their debts, [such proofs to be in all respects as proofs in
bankruptcy]; and the petitioning debtor shall attend [and make oath
of the truth of the account filed by him and may be examined
thereon, and if at such sitting or at any adjournment thereof
three-fifths in number and value of the creditors who have proved
debts to the amount of ten pounds shall] assent to the proposal of
such petitioner or to any modification thereof, the terms thereof
shall be reduced into writing and the creditors shall sign the
same; and such resolution or agreement, subject to such confirmation
as hereinafter mentioned, shall thenceforth be binding and of full
force as well against such petitioning debtor as against all persons
who were creditors at the date of [his petition,] and who had
notice of the said sitting; and the court, after hearing such
creditors by themselves, their counsel, or [attorneys,] as may desire
to be heard, either for or against such resolution or agreement,
may approve and confirm the same, and cause it to be filed and
entered on record, [and grant to the petitioner a certificate
thereof.]"

Subs.(2) amends s.2(5) of 1890 c.24.

Secured creditors.

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 7

7. The rules in the First Schedule to this Act shall be observed
with respect to proof of debts by secured creditors.

S.8 rep. by 1933 c.7 (NI) s.3 sch.

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 9
Postponement of husband's and wife's claims.

9.(1) Where a married woman has been adjudged bankrupt, her husband
shall not be entitled to claim any dividend as a creditor in
respect of any money or other estate lent or entrusted by him to
his wife for the purposes of her trade or business, until all
claims of the other creditors of his wife for valuable consideration
in money or money's worth have been satisfied.

(2) Where the husband of a married woman has been adjudged
bankrupt, any money or other estate of such woman lent or entrusted
by her to her husband for the purpose of any trade or business
carried on by him or otherwise, shall be treated as assets of his
estate, and the wife shall not be entitled to claim any dividend
as a creditor in respect of any such money or other estate until
all claims of the other creditors of her husband for a valuable
consideration in money or money's worth have been satisfied.

Relation back of title of assignees or trustees.

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 10

10. The bankruptcy of a debtor, whether it takes place on the
debtor's own petition or upon that of a creditor or creditors,
shall be deemed to have relation back to, and to commence at, the
time of the act of bankruptcy being committed on which an
adjudication of bankruptcy is made against him, or if the bankrupt
is proved to have committed more acts of bankruptcy than one, to
have relation back to, and to commence at, the time of the first
of the acts of bankruptcy proved to have been committed by the
bankrupt within six months next preceding the date of the filing of
the bankruptcy petition; but no bankruptcy petition or adjudication
shall be rendered invalid by reason of any act of bankruptcy
anterior to the debt of the petitioning creditor.

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 11
Provisions as to second bankruptcy or administration in bankruptcy of
bankrupt's estate.

11.(1) Where a second or subsequent adjudication of bankruptcy is
made against a bankrupt, or where an order is made for the
administration in bankruptcy of the estate of a deceased bankrupt,
then for the purposes of any proceedings consequent upon any such
adjudication or order, the assignees or trustee in the last
preceding bankruptcy shall be deemed to be creditors in respect of
any unsatisfied balance of the debts provable against the property
of the bankrupt in that bankruptcy, and any property acquired by
the bankrupt since he was last adjudged bankrupt, which at the date
when the subsequent petition was presented had not been distributed
amongst the creditors in such last preceding bankruptcy, shall
(subject to any disposition thereof made by the assignees or trustee
in that bankruptcy, without knowledge of the presentation of the
subsequent petition, and subject to the provisions of this Act with
respect to dealings with an undischarged bankrupt) vest in the
assignees or trustee in the subsequent bankruptcy or administration
in bankruptcy as the case may be.

(2) Where the assignees or trustee in any bankruptcy receive notice
of a subsequent petition in bankruptcy against the bankrupt or after
his decease of a petition for the administration of his estate in
bankruptcy, the said assignees or trustee shall hold any property
then in their possession which has been acquired by the bankrupt
since he was adjudged bankrupt until the subsequent petition has
been disposed of, and, if on the subsequent petition an order of
adjudication or an order for the administration of the estate in
bankruptcy is made, they shall transfer all such property or the
proceeds thereof (after deducting their costs and expenses) to the
assignees or trustee in the subsequent bankruptcy or administration
in bankruptcy, as the case may be.

Repeal and re-enactment with amendments of 1857 c.60 s.314 and 1872
c.58 s.52

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 12

12. Section three hundred and fourteen of the Act of 1857 and
section fifty-two of the Act of 1872 shall cease to have effect
and the following provisions shall have effect in lieu thereof:

(1) Any settlement of property, not being a settlement made before
and in consideration of marriage, or made in favour of a purchaser
or incumbrancer in good faith and for valuable consideration, or a
settlement made on or for the wife or children of the settlor of
property which has accrued to the settlor after marriage in right
of his wife, shall, if the settlor becomes bankrupt within two
years after the date of the settlement, be void against the
assignees or trustee in the bankruptcy, and shall, if the settlor
becomes bankrupt at any subsequent time within ten years after the
date of the settlement, be void against the said assignees or
trustees in the bankruptcy, unless the parties claiming under the
settlement can prove that the settlor was, at the time of making
the settlement, able to pay all his debts without the aid of the
property comprised in the settlement, and that the interest of the
settlor in such property passed to the trustee of such settlement
on the execution thereof.

(2) Any covenant or contract made by any person (in this section
called "the settlor") in consideration of his or her marriage,
either for the future payment of money for the benefit of the
settlor's wife or husband or children, or for the future settlement,
on or for the settlor's wife or husband or children, of property,
wherein the settlor had not at the date of the marriage any estate
or interest, whether vested or contingent, in possession or
remainder, and not being money or property in right of the
settlor's wife or husband, shall, if the settlor is adjudged
bankrupt and the covenant or contract has not been executed at the
date of adjudication of bankruptcy, be void against the assignees or
trustee in the bankruptcy, except so far as it enables the persons
entitled under the covenant or contract to claim for dividend in
the settlor's bankruptcy under or in respect of the covenant or
contract, but any such claim to dividend shall be postponed until
all claims of the other creditors for valuable consideration in
money or money's worth have been satisfied.

(3) Any payment of money (not being payment of premiums on a
policy of life assurance) or any transfer of property made by the
settlor in pursuance of such a covenant or contract as aforesaid
shall be void against the assignees or trustee in the settlor's
bankruptcy, unless the persons to whom the payment or transfer was
made prove either

(a)that the payment or transfer was made more than two years before
the date of adjudication of bankruptcy; or

(b)that at the date of the payment or transfer the settlor was
able to pay all his debts without the aid of the money so paid
or the property so transferred; or

(c)that the payment or transfer was made in pursuance of a covenant
or contract to pay or transfer money or property expected to come
to the settlor from or on the death of a particular person named
in the covenant or contract, and was made within three months after
the money or property came into the possession or under the control
of the settlor;

(4) "Settlement" shall, for the purposes of this section, include
any conveyance or transfer of property.

S.13 amends s.53 of 1872 c.58. S.14 rep. by 1969 c.30 (NI) s.132
sch.6

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 15
Validity of certain payments to bankrupt and assignee.

15.(1) A payment of money or delivery of property to a person
subsequently adjudged bankrupt, or to a person claiming by assignment
from him shall, notwithstanding anything in the Acts of 1857 and
1872, and in this Act, be a good discharge to the person paying
the money or delivering the property, if the payment or delivery is
made before the actual date of adjudication of bankruptcy and
without notice of the presentation of a bankruptcy petition, and is
either pursuant to the ordinary course of business or otherwise bona
fide.

(2) For the purposes of this section a payment by a banker of a
cheque drawn in favour of a third party by the person subsequently
adjudged bankrupt shall be deemed to be a payment to the person
subsequently adjudged bankrupt.

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 16
Dealings with undischarged bankrupt.

16.(1) All transactions by a bankrupt with any person dealing with
him bona fide and for value, in respect of property, whether real
or personal, acquired by the bankrupt after the adjudication, shall,
if completed before any intervention by the assignees or trustee in
the bankruptcy, be valid against the said assignees or trustee, and
any estate or interest in such property which by virtue of the Act
of 1857, the Act of 1872 or this Act is vested in the said
assignees or trustee shall determine and pass in such manner and to
such extent as may be required for giving effect to any such
transaction.

This sub-section shall apply to transactions with respect to real
property completed before the commencement of this Act in any case
where there has not been any intervention by the said assignees or
trustee before that date.

For the purposes of this sub-section, the receipt of any money,
security, or negotiable instrument from, or by the order or
direction of, a bankrupt by his banker, and any payment and any
delivery of any security or negotiable instrument made to, or by
the order or direction of, a bankrupt by his banker, shall be
deemed to be a transaction by the bankrupt with such banker dealing
with him for value.

(2) Where a banker has ascertained that a person having an account
with him is an undischarged bankrupt, then, unless the banker is
satisfied that the account is on behalf of some other person, it
shall be his duty forthwith to inform the assignees or the trustee
in the bankruptcy of the existence of the account, and thereafter
he shall not make any payments out of the account, except under an
order of the court or in accordance with instructions from the said
assignees or trustee, unless by the expiration of one month from
the date of giving the information no instructions have been
received from the said assignees or trustee.

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 17
Recovery of property transferred without knowledge of filing of
petition of bankruptcy.

17. Where any money or property of a bankrupt has, on or after
the date of the filing of the petition of bankruptcy, but before
notice of the adjudication of bankruptcy has been gazetted as
directed by section one hundred and twenty-nine of the Act of 1857
or this Act, been paid or transferred by a person having possession
of it to some other person, and the payment or transfer is under
the provisions of the Acts of 1857 and 1872 or of this Act void
as against the assignees or trustee in the bankruptcy, then, if the
person by whom the payment or transfer was made proves that when
it was made he had not had notice of the petition of bankruptcy,
any right of recovery which the said assignees or trustee may have
against him in respect of the money or property shall not be
enforced by any legal proceedings except where and in so far as
the court is satisfied that it is not reasonably practicable for
the said assignees or trustee to recover in respect of the money
or property or of some part thereof from the person to whom it
was paid or transferred.

S.18 rep. by 1952 c.19 (NI) s.1(4) sch.2

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 19
Election as to or disclaimer of onerous property of arranging
debtor.

19. The provisions of sections two hundred and seventy-one and two
hundred and seventy-two of the Act of 1857 (relative to election by
the assignees of a bankrupt in certain cases) and of sections
ninety-seven and ninety-eight of the Act of 1872 (relative to
disclaimer of onerous property by the assignees or trustee of a
bankrupt) shall apply to the official assignee in any case where
the property and effects of an arranging debtor have been vested in
the said official assignee under section three hundred and forty-nine
of the Act of 1857, in the same manner as the said provisions
apply to the assignees or trustee of a bankrupt.

S.20 rep. with saving by 1937 c.9 (NI) s.13(2) sch.2

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 21
Administration in bankruptcy of estate of person dying insolvent.

21.(1)[Rules of Court may provide] for the administration according
to the law of bankruptcy of the estates of persons dying insolvent,
in any case where the court thinks fit so to order upon a
petition being presented to the court

(a)by a creditor of a deceased debtor whose debt would have been
sufficient to support a bankruptcy petition against the debtor had
he been alive, or

(b)by the legal personal representative of such deceased debtor

(2) Where a petition for administration under this section has been
presented to the court, the court may, in the prescribed manner,
unless satisfied that there is reasonable probability that the estate
will be sufficient for the payment of the debts owing by the
deceased, make an order for the administration in bankruptcy of the
deceased debtor's estate, or may, upon cause shown, dismiss the
petition with or without costs. Where the petition is presented by
a creditor the prescribed notice shall be given to the legal
personal representative of the deceased debtor and the petitioner's
debt shall be proved to the court, before an order is made.

(3) A petition for administration under this section shall not be
presented to the court after proceedings have been commenced in any
court of justice for the administration of the deceased debtor's
estate, but that court may, when satisfied that the estate is
insufficient to pay its debts, transfer the proceedings to the court
exercising jurisdiction in bankruptcy, and thereupon the last-mentioned
court may, in the prescribed manner, make an order for the
administration of the estate of the deceased debtor, and the like
consequences shall ensue as under an administration order made on a
petition under this section.

(4) Upon an order being made for the administration of a deceased
debtor's estate, the property of the debtor shall vest in the
official assignee..., and he shall forthwith proceed to realise and
distribute that property in accordance with the provisions of [the
Acts of 1857, 1872, and 1889, and this Act]:

Provided that the creditors shall have the same powers as to
appoinment of a trustee and committee of inspection as they have in
other cases where the estate of a debtor is being administered or
dealt with in bankruptcy, and the provisions of the Act of 1872
[and the Bankruptcy Amendment (Northern Ireland) Order 1980] relating
to trustees and committees of inspection shall apply to trustees and
committees of inspection appointed under the powers so conferred.

(5) With the modifications hereinafter mentioned, all the provisions
of [the Acts of 1857, 1872, and 1889, and this Act] relating to
proof of debts, property available for payment of debts, effect of
bankruptcy on antecedent and other transactions, realisation of
property, and distribution of property [(except Article 26 of the
Bankruptcy Amendment (Northern Ireland) Order 1980)], and sections
three hundred and seven to three hundred and eleven inclusive, of
the Act of 1857 (which relate to enquiries as to a debtor's
conduct, dealings, and property) shall, so far as the same are
applicable, apply to the case of an administration order under this
section in like manner as to an order of adjudication of
bankruptcy...

[(6) In the administration of the property of the deceased debtor
under an order of administration, the official assigneee or trustee
shall have regard to any claim by the legal personal representative
of the deceased debtor to payment of the proper funeral and
testamentary expenses incurred by him in and about the debtor's
estate, and such claim shall be deemed a preferential debt under
the order, and shall, notwithstanding anything to the contrary in
the provisions of any Act relating to the priority of other debts,
be payable in full, out of the debtor's estate, in priority to all
other debts.]

[(7) If, on the administration of a deceased debtor's estate, any
surplus remains in the hands of the official assignee or trustee,
after payment in full of all the debts due from the debtor,
together with the costs of the administration and interest as
provided by the Acts of 1857 and 1872 in case of bankruptcy, such
surplus shall be paid over to the legal personal representative of
the deceased debtor's estate, or dealt with in such other manner as
may be prescribed.]

(8) Notice to the legal personal representative of a deceased debtor
of the presentation by a creditor of a petition under this section
shall, in the event of an order for administration being made
thereon, be deemed to be equivalent to notice of an act of
bankruptcy, and after such notice no payment or transfer of property
made by the legal personal representative shall operate as a
discharge to him as between himself and the official assignee or
trustee; save as aforesaid nothing in this section shall invalidate
any payment made or any act or thing done in good faith by the
legal personal representative before the date of the order for
administration.

(9) Where a petition for the administration of the estate of a
deceased debtor under this section is presented by the legal
personal representative of the debtor, the provisions of this section
shall be subject to such modifications as may be prescribed.

(10) In this section..., "creditor" means one or more creditors
qualified to present a bankruptcy petition, and "trustee" means a
trustee appointed by the creditors of the deceased debtor under the
provisions of sub-section (4) of this section.

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 22
Re-vesting of property in bankruptcy matter.

22.[(1) Where an order is made by the court for the payment of
the surplus referred to in section three hundred and four of the
Act of 1857 to a bankrupt, his executors, administrators or assigns,
such order shall have the effect of vesting the said surplus in
the bankrupt, his executors, administrators or assigns.]

(2) Where an offer of composition after bankruptcy by a bankrupt or
his friends has been accepted by his creditors, and the adjudication
of bankruptcy has been annulled by the court, and there remains in
the possession of, or vested in, or otherwise subject to the
control of the assignees or trustee in the bankruptcy, any part of
the estate or effects of the debtor whose bankruptcy has been
annulled, it shall be lawful for the court to order that the same
shall be vested in the said debtor, his heirs, executors,
administrators, or assigns and such order shall have the effect of
vesting the same accordingly.

(3) Any order made in pursuance of this section, shall, for all
purposes, be deemed to be a conveyance or assignment of property,
and may be registered accordingly.

S.23 amends s.11 of 1872 c.57. S.24 rep. by 1980 NI4 art.44(2)(b)
sch.3

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 25
Bankrupt or arranging debtor guilty of gambling, etc.

25.(1) Any person adjudged bankrupt, and any person who shall have
presented a petition for arrangement with his creditors in pursuance
of the Act of 1857 as amended by the Act of 1872, shall be
deemed guilty of a misdemeanour, and, on conviction thereof, shall
be liable to be imprisoned for any term not exceeding two years,
if, having been engaged in any trade or business, and having
outstanding at the date of the presentation of a bankruptcy petition
against or by him, or the presentation of a petition for
arrangement by him, any debts contracted in the course and for the
purposes of such trade or business

(a)he has, within two years prior to the presentation of such
petition materially contributed to or increased the extent of his
insolvency by gambling or by rash and hazardous speculations, and
such gambling or speculations are unconnected with his trade or
business; or

(b)he has, between the date of the presentation of such petition
and the date of adjudication of bankruptcy, or the date on which
his proposed arrangement was approved by the court, as the case may
be, lost any part of his estate by such gambling or rash and
hazardous speculations as aforesaid; or

(c)on being required by the official assignee or trustee in the
bankruptcy at any time, or in the course of any sitting by the
court, to account for the loss of any substantial part of his
estate incurred within a period of a year next preceding the date
of the presentation of the bankruptcy petition, or petition for
arrangement with his creditors, or between that date and the date
of the adjudication of bankruptcy, or the date on which his
proposed arrangement was approved by the court, as the case may be,
he fails to give a satisfactory explanation of the manner in which
such loss was incurred:

Provided that, in determining for the purposes of this section
whether any speculations were rash and hazardous, the financial
position of the accused person at the time when he entered into
the speculations shall be taken into consideration.

[(2) No proceedings shall be instituted for an offence under this
section except by or with the consent of the Attorney General; ...]

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 26
Bankrupt or arranging debtor failing to keep proper accounts.

26.(1) Any person adjudged bankrupt and any person who shall have
presented a petition for arrangement with his creditors, in pursuance
of the Act of 1857 as amended by the Act of 1872, shall be
deemed guilty of a misdemeanour, and, on conviction thereof, shall
be liable to be imprisoned for any term not exceeding two years,
if, having been engaged in any trade or business during any period
in the two years immediately preceding the date of the presentation
of a bankruptcy petition against or by him, or a petition for
arrangement with his creditors by him, he has not kept proper books
of account throughout that period and throughout any further period
in which he was so engaged between the date of the presentation of
the petition and the date of adjudication of bankruptcy, or the
date on which his proposed arrangement was approved by the court,
as the case may be, or has not preserved all books of account so
kept:

Provided that a person who has not kept or has not preserved such
books of account shall not be convicted of an offence under this
section

(a)if his unsecured liabilities at the date of the presentation of
the said petition of bankruptcy or petition for arrangement did not
exceed, in the case of a person who has not on any previous
occasion been adjudged bankrupt or made a composition or arrangement
with his creditors [#6,000], or in any other case [#1,200]; or

(b)if he proves that in the circumstances in which he traded or
carried on business the omission was honest and excusable.

[(2) No proceedings shall be instituted for an offence under this
section except by or with the consent of the Attorney General; ...]

(3) For the purposes of this section, a person shall be deemed not
to have kept proper books of account, if he has not kept such
books or accounts as are necessary to exhibit or explain his
transactions and financial position in his trade or business,
including a book or books containing entries from day to day in
sufficient detail of all cash received and cash paid, and, where
the trade or business has involved dealings in goods, statements of
annual stocktakings, and (except in the case of goods sold by way
of retail trade to the actual consumer) accounts of all goods sold
and purchased showing the buyers and sellers thereof in sufficient
detail to enable the goods and the buyers and sellers thereof to
be identified.

(4) Paragraphs (9), (10) and (11) of sub-section (1) of section
eleven of the Debtors Act (Ireland), 1872 (which relate to the
destruction, mutilation, and falsification and other fraudulent dealing
with books and documents) shall, in their application to such books
or accounts as aforesaid, have effect as if "two years next before
such presentation respectively" were substituted for the time
mentioned in those paragraphs as the time prior to the presentation
within which the acts or omissions specified in those paragraphs
constitute an offence.

S.27 amends s.12 of 1872 c.57

Interpretation.

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 28

28.(1) In this Act, unless the context otherwise requires, the
following expressions have the meanings hereby respectively assigned
to them, that is to say:

"The court" means [the High Court] ...:

"Prescribed" means prescribed by [rules of court made under [section
55 of the Judicature (Northern Ireland) Act 1978]]:

"Official assignee" means the official assignee [for bankruptcy for
Northern Ireland appointed under Article 3 of the Bankruptcy
Amendment (Northern Ireland) Order 1980]:

"Trustee" where used in relation to a bankruptcy means a trustee
appointed by the creditors of a bankrupt under the provisions of
the Act of 1872:

"Gazette" means the Belfast Gazette:

"Property" includes money, goods, things in action, land, and every
description of property, whether real or personal and whether situate
in Northern Ireland or elsewhere, and also obligations, easements,
and every description of estate, interest, and profit, present or
future, vested or contingent, arising out of or incident to property
as hereinbefore defined:

Other expressions defined or explained by the Act of 1857, or the
Act of 1872, have the same respective meanings as they have in the
said Acts.

Subs.(2) rep. by 1954 c.33 (NI) s.48(1) sch.

S.29 rep. by SLR (NI) 1952

BANKRUPTCY AMENDMENT ACT (NORTHERN IRELAND) 1929 - SECT 30
Short title, construction, and citation.

30.(1) This Act may be cited as the Bankruptcy Amendment Act
(Northern Ireland), 1929.

(2) This Act shall be construed as one with the Act of 1857, the
Act of 1872, and the Act of 1889, and those Acts and this Act
may be cited together as the Bankruptcy Acts (Northern Ireland),
1857 to 1929.1. If a secured creditor realises his security, he may
prove for the balance due to him, after deducting the net amount
realised.

2. If a secured creditor surrenders his security to the [assignees]
or trustee for the general benefit of the creditors, he may prove
for his whole debt.

3. If a secured creditor does not either realise or surrender his
security, he shall, before ranking for dividend, state in his proof
the particulars of his security, the date when it was given, and
the value at which he assesses it, and shall be entitled to
receive a dividend only in respect of the balance due to him after
deducting the value so assessed.

4.(a) Where a security is so valued the official assignee or
trustee may at any time redeem it on payment to the creditor of
the assessed value.

(b) If the official assignee or trustee is dissatisfied with the
value at which a security is assessed, he may require that the
property comprised in any security so valued be offered for sale at
such times and on such terms and conditions as may be agreed on
between the creditor and the official assignee or trustee, or as,
in default of such agreement, the court may direct. If the sale be
by public auction the creditor, or the official assignee or trustee
on behalf of the estate, may bid or purchase.

(c) Provided that the creditor may at any time, by notice in
writing, require the official assignee or trustee to elect whether
he will or will not exercise his power of redeeming the security
or requiring it to be realised, and if the official assignee or
trustee does not, within six months after receiving the notice,
signify in writing to the creditor his election to exercise the
power, he shall not be entitled to exercise it; and the equity of
redemption, or any other interest in the property comprised in the
security which is vested in the official assignee or trustee, shall
vest in the creditor, and the amount of his debt shall be reduced
by the amount at which the security has been valued.

5. Where a creditor has so valued his security, he may at any
time amend the valuation and proof on showing to the satisfaction
of the court that the valuation and proof were made bona fide on
a mistaken estimate, or that the security has diminished or
increased in value since its previous valuation; but every such
amendment shall be made at the cost of the creditor, and upon such
terms as the court shall order.

6. Where a valuation has been amended in accordance with the
foregoing rule, the creditor shall forthwith repay any surplus
dividend which he may have received in excess of that to which he
would have been entitled on the amended valuation, or, as the case
may be, shall be entitled to be paid out of any money, for the
time being available for dividend, any dividend or share of dividend
which he may have failed to receive by reason of the inaccuracy of
the original valuation, before that money is made applicable to the
payment of any future dividend, but he shall not be entitled to
disturb the distribution of any dividend declared before the date of
the amendment.

7. If a creditor after having valued his security subsequently
realises it, or if it is realised under the provisions of rule 4,
the net amount realised shall be substituted for the amount of any
valuation previously made by the creditor, and shall be treated in
all respects as an amended valuation made by the creditor.

8. If a secured creditor does not comply with the foregoing rules
he shall be excluded from all share in any dividend.

9. Subject to the provisions of rule 4, a creditor shall in no
case receive more than [#1] in the pound, and interest, where the
creditor is entitled to prove for interest.

Second Schedule rep. by SLR (NI) 1952

"(7) If on the administration of the estate of a deceased debtor
any surplus remains in the hands of the official assignee or
trustee, after payment in full of all the creditors of the
deceased, with interest, and of the costs of the proceedings under
the petition for administration, the personal representative of the
deceased shall be entitled to that surplus.

(7A) The court may, on the application of the personal
representative of a deceased debtor, order that any surplus property
of the deceased remaining in the possession of, or vested in, or
otherwise subject to the control of the official assignee or
trustee, shall vest in such person as the court may appoint or, in
default of any such appointment, revert to the personal
representative of the deceased for all the estate or interest
therein of the deceased on such terms and subject to such
conditions, if any, as the court may declare by order.

(7B) An order made in pursuance of sub-section (7A) shall for all
purposes be deemed to be a conveyance or assignment of property and
may be registered accordingly."

In section 28(1) in the definition of "Prescribed" for the words
from "rules of court" onwards substitute "bankruptcy rules"