Bankrupts Act 1731
| Jurisdiction | UK Non-devolved |
(5 Geo. 2) C A P. XXX.
'WH E R E A S Commissions of Bankrupt have been issued against several Persons not long before and since the Expiration of the Statutemade in the fifth Year of his late Majesty's Reign, intituled,An Act for the better preventing Frauds committed by Bankrupts , and such Persons have been declared Bankrupts by the Commissioners by such Commissions authorized, and yet several of such Bankrupts, by reason of the Expiration of the said Statute, have not only refused to surrender themselves to the Commissioners, and to discover and deliver tip their Estate and Effects to the said Commissioners for the Benefit of their Creditors, but have carried away and concealed the same in such Manner, that the said Commissionershave not been able to seize the same, to the manifest Wrong and Injury of their Creditors, and to the great Discouragement of Trade: And whereas many evil-minded Persons have, since the Expiration of the said Statute, bought and taken upon Trust and Credit divers great Quantities of Goods, Wares and Merchandizes, and have thereby, and by their extravagant Mannerof living and otherwise, contracted great Debts, and having gotten such Goods and Effects into their Custody, have sold or pawned the same for less than the Value thereof, and thereby raised ready Money, and have withdrawn themselves from their usual Places of Abode, with their Effects, into secret Places, in order to oblige their Creditors to accept of such Composition for their respective Debts, as such evil-minded Persons think fit to offer, or have carried away their Effects beyond the Seas, whereby their Creditors have been totally deprived of their Debts: And whereas many Persons have and do daily become Bankrupts, not so much by reason of Losses and unavoidable Misfortunes, as to the Intent to oblige their Creditors to accept such their unjust Proffers and Composition, and to defraud and hinder their Creditors of their just Debts:' Therefore to remedy the said Abuses, and to supply the Defects and Inconveniencies of former Laws relating to Bankrupts, Be it enacted by the King's most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the Authorityof the same, That if any Person or Persons, who since the fourteenth Day ofMay which was in the Year of our Lord one thousand seven hundred and twenty-nine, hath or have become, Bankrupt, or who shall at any Timehereafter during the Continuance of this Act become Bankrupt, within the Intent and Meaning of the several Statutes made and now in Force concerning Bankrupts, or any of them, and against whom a Commission of Bankrupt under the Great Seal ofGreat Britain hath, since the said fourteenth Day of May which was in the Year of our Lord one thousand seven hundred and twenty-nine, been awarded and issued out, or shall at any Time hereafter be awarded and issued out, whereupon the Person or Persons against whom such Commission hath issued or shall issue, have or hath been or shall be declared Bankrupt or Bankrupts, shall not within forty-two Days after Notice thereof in Writing, to be left at the usual Place of Abode of such Person or Persons, or personal Notice, in case such Person or Persons be then in Prison, and Notice given in the London Gazette , that such Commission or Commissions is, are or have been issued, and of the Time and Place of a Metting of the Commissioners therein named, or the major Part of them, surrender him, her or themselves to the said Commissioners named in the said Commission, or the major Part of them, and sign or subscribe such Surrender, and submit to be examined from Time to Time upon Oath, or being of the People calledQuakers , upon the solemn Affirmation by Law appointed for such People, by and before such Commissioners, or the major Part of them, by such Commission authorized, and in all Thingsconform to the several Statutes already made and now in Force concerning Bankrupts; and also upon such his, her or their Examination fully and truly disclose and discover all his, her or their Effects and Estate real and personal, and how and in what Manner, to whom and upon what Consideration, and at what Time or Times he, she or they have or hath disposed of, assigned or transferred any of his, her or their Goods, Wares, Merchandizes, Monies or other Estate and Effects (and all Books, Papers and Writings relating thereunto) of which he, she or they was or were possessed, or in or to which he, she or they was or were any ways interested or intitled, or which any Person or Persons had, or hath or have had in Trust for him, her or them, or for his, her or their Use, at any Time before or after the issuing of the said Commission, or whereby such Person or Persons, or his, her or their Family or Families, hath or have, or may have or expect any Profit, Possibility of Profit, Benefit or Advantage whatsoever, except only such Part of his, her, or their Estate and Effects, as shall have been really andbona file before sold or disposed of in the way of his, her or their Trade and Dealings; and except such Sums of Money as shall have been laid out in the ordinary Expence of his, her or their Family or Families; and also upon such Examination deliver up unto the said Commissioners by the said Commission authorized, or the major Port of them, all such Part of his, her or their the said Bankrupts Goods, Wares, Merchandizes, Money, Estate and Effects, and all Books, Papers and Writings relating thereunto, as at the Time of such Examination shall be in his, her or their Possession, Custody or Power (his, her or their necessary Wearing Apparel and the necessary Wearing Apparel of the Wise and Children of such Bankrupt only excepted) then he, she or they the said Bankrupt or Bankrupts, in case of any Default and wilful Omission in not surrendring and submitting to be examined as aforesaid, or in case he, she or they shall remove, conceal or embezzle any Partof such his, her or their Estate real or personal, to the Value of twenty Pounds, or any Books of Account, Papers or Writing relating thereto, with an Intent to defraud his, her or their Creditors (and being thereof lawfully convicted by Judgment or Information) shall be deemed and adjudged to be guilty of Felony, and shall suffer as Felons without Benefit of Clergy, or the Benefit of any Statute made in relation to Felons; and in such Cases such Felon's Goods and Estate shall go and be divided among the Creditors seeking Relief under such Commission; any Law, Usage or Custom to the contrary thereof in any wise notwithstanding.
II Number and Limitation of Sittings.
II. Provided always, and be it enacted by the Authority aforesaid, That the said Commissioners, authorized as aforesaid, shall appoint within the said forty-two Days so appointed as aforesaid for the Bankrupt to surrender and conform as aforesaid, not less than three several Meetings for the Purposes aforesaid, the last of which shall be on the forty-second Day hereby limited for such Bankrupt's Appearance; except on Commissions already issued since the said fourteenth Day ofMay one thousand seven hundred and twenty-nine, where the Person or Persons against whom such Commission issued has or have before surrendered and submitted to be examined; in which Case the said Commissioners authorized as aforesaid, shall appoint only one Sitting more for the Purposes aforesaid, unless the Assignee or Assignees of the Estate of such Bankrupt shall think more Sittings necessary, and desire the same, and three Weeks Notice at least shall be given in the London Gazette of the Time and Place of such Meetings.
III Lord Chancellor may enlarge the Time for surrendring.
III. Provided always, and it is hereby, declared and enacted by the Authority aforesaid, That it shall and may be lawful to and for the Lord Chancellor or Lord Keeper, or Commissioners for the Custody of the Great Seal ofGreat Britain for the Time being, to enlarge the Time for such Person or Persons surrendring him, her or themselves, and disclosing and discovering his, her or their Estate and Effects as aforesaid, as the said Lord Chancellor, Lord Keeper or such Commissioners shall think fit, not exceeding fifty Days, to be computed from the End of the said forty-two Days, so as such Order for enlarging the Time be made by the said Lord Chancellor, Lord Keeper or such Commissioners six Days at least before the Time on which such Person or Persons was or were so to surrender him, her or themselves, and make such Discovery as aforesaid.
IV Books of Account to be delivered to the Assignees on Oath.
IV. And be it further enacted by the Authority aforesaid, That every such Bankrupt or Bankrupts as aforesaid, after any Assignee or Assignees of his, her or their Estate and Effects shall be chosen and appointed, as herein after mentioned, shall be and is and are hereby required forthwith to deliver up upon Oath, or (one of the People calledQuakers ) upon solemn Affirmation before one of the Masters of the High Court of Chancery, or before any Justice of the Peace within his respective Jurisdiction, which Oath or Affirmation they are hereby impowered to administer, unto such Assignee or Assignees all his, her or their Books of Accounts, Papers and Writings not seized by the Messenger of the said Commission, or not before delivered up to the Commissioners, or the major Part of them, and then in his, her or their Custody or Power, and discover such as are in the Custody or Power of any other Person or Persons, that any ways relate to or concern his, her or their Estateor Effects; and all and every such Bankrupt or Bankrupts, not in Prison or Custody, shall at all Times...
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