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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.

© 1929 Crown Copyright

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