Deeds of Arrangement Act 1887
| Jurisdiction | UK Non-devolved |
Deeds of Arrangement Act, 1887
(50 & 51 Vict.) CHAPTER 57.
An Act to provide for the Registration of Deeds of Arrangement.
[16th September 1887]
B E it enacted by the Queen'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 authority of the same, as follows:
1 Short title.
1. This Act may be cited for all purposes as theDeeds of Arrangement Act, 1887.
2 Extent of Act.
2. This Act shall not extend to Scotland.
3 Commencement of Act.
3. This Act shall, except as in this Act specially provided, come into operation on the first day of January one thousand eight hundred and eighty-eight, which date is in this Act referred to as the commencement of this Act.
4 Application of Act.
(1)4.—(1.) This Act shall apply to every Deed of Arrangement, as defined in this section, made after the commencement of this Act.
(2) (2.) A Deed of Arrangement to which this Act applies shall include any of the following instruments, whether under seal or not, made by, for, or in respect of the affairs of a debtor for the benefit of his creditors generally (otherwise than in pursuance of the law for the time being in force relating to bankruptcy), that is to say:—
(a .) An assignment of property;
(b .) A deed of or agreement for a composition;
And in cases where creditors of a debtor obtain any control over his property or business:—
(c .) A deed of inspectorship entered into for the purpose of carrying on or winding up a business;
(d .) A letter of licence authorising the debtor or any other person to manage, carry on, realise, or dispose of a business, with a view to the payment of debts; and
(e .) Any agreement or instrument entered into for the purpose of carrying on or winding up the debtor's business, or authorising the debtor or any other person to manage, carry on, realise, or dispose of the debtor's business, with a view to the payment of his debts.
5 Avoidance of unregistered deeds of arrangement.
5. From and after the commencement of this Act a Deed of Arrangement to which this Act applies shall be void unless the same shall have been registered under this Act within seven clear days after the first execution thereof by the debtor or any creditor, or if it is executed in any place out of England or Ireland respectively, then within seven clear days after the time at which it would, in the ordinary course of post, arrive in England or Ireland respectively, if posted within one week after the execution thereof, and unless the same shall bear such ordinary and ad valorem stamp as is under this Act provided.
6 Mode of registration.
6. The registration of a Deed of Arrangement under this Act shall be effected in the following manner:—
(1) (1.) A true copy of the deed, and of every schedule or inventory thereto annexed, or therein referred to, shall be presented to and filed with the registrar within seven clear days after the execution of the said deed (in like manner as a bill of sale given by way of security for the payment of money is now required to be filed), together with an affidavit verifying the time of execution, and containing a description of the residence and occupation of the debtor, and of the place or places where his business is carried on, and an affidavit by the debtor stating the total estimated amount of property and liabilities included under the deed, the total amount of the composition (if any) payable thereunder, and the names and addresses of his creditors:
(2) (2.) No deed shall be registered under this Act unless the original of such deed, duly stamped with the proper inland revenue duty, and in addition to such duty a stamp denoting a duty computed at the rate of one shilling for every hundred pounds or fraction of a hundred pounds of the sworn value of the property passing, or (where no property passes under the deed) the amount of composition payable under the deed, is produced to the registrar at the time of such registration.
7 Form of register.
7. The registrar shall keep a register wherein shall be entered, as soon as conveniently may be after the presentation of a deed for registration, an abstract of the contents of every Deed of Arrangement registered under this Act, containing the following and any other prescribed particulars:—
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