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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; ...]

© 1929 Crown Copyright

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