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Presidency-towns Insolvency Act, 1909 Part IV

Title: Official Assignees

State: Central

Year: 1909

.....the commencement of this Act in the Courts for the relief of Insolvent Debtors at Calcutta, Madras and Bombay respectively under the {Rep.by this Act} Indian Insolvency Act, 1848, {The words "and in the Chief Court of Lower Burma under that Act as applied by the Lower Burma Courts Act, 1900" rep.by the A.O.1937} shall, without further appointment for that purpose, become the official assignees, substantive or temporary, as the case may be, under this Act in the High Courts at Fort William, Madras and Bombay {The words "and in the Chief Court of Lower Burma" rep., ibid} respectively.{For s.77A, applicable to Bombay and Madras, see the Presidency-towns Insolvency (Bombay Amendment) act, 1933 (Bom.20 of 1933), s.3 and the Presidency-towns Insolvency (Madras Amendment) Act, 1943 (Mad.5 of 1943), s.8 respectively}. Section 78 - Power to administer oath An official assignee may, for the purpose of affidavits verifying proofs, petitions or other proceedings under this Act, administer oaths. Section 79 - Duties as regards the insolvents conduct (1) The duties of an official assignee shall have relation to the conduct of the insolvent as well as to the administration of his.....

Presidency-towns Insolvency Act, 1909 Section 77

Title: Appointment and Removal of Official Assignees of Insolvents Estate

State: Central

Year: 1909

..... (2) Every official assignee {Ins.by Act 10 of 1930, s.4} [and every deputy official assignee] shall give such security and shall be subject to such rules and shall act in such manner as may be prescribed. {This sub-section has been replaced by another in Calcutta: see s.3 (c), ibid} (3) Not withstanding anything in sub-section (1), the persons substantively or temporarily holding the office of official assignee immediately before the commencement of this Act in the Courts for the relief of Insolvent Debtors at Calcutta, Madras and Bombay respectively under the {Rep.by this Act} Indian Insolvency Act, 1848, {The words "and in the Chief Court of Lower Burma under that Act as applied by the Lower Burma Courts Act, 1900" rep.by the A.O.1937} shall, without further appointment for that purpose, become the official assignees, substantive or temporary, as the case may be, under this Act in the High Courts at Fort William, Madras and Bombay {The words "and in the Chief Court of Lower Burma" rep., ibid} respectively.{For s.77A, applicable to Bombay and Madras, see the Presidency-towns Insolvency (Bombay Amendment) act, 1933 (Bom.20 of 1933), s.3 and the Presidency-towns Insolvency.....

Presidency-towns Insolvency Act, 1909 Section 58

Title: Possession of Property by Official Assignee

State: Central

Year: 1909

.....or retaining possession of the property of the insolvent, be in the same position as if he were a receiver of the property appointed under the Code of Civil Procedure, 1908, and the Court may on his application enforce such acquisition or retention accordingly. (3) Where any part of the property of the insolvent consists of stock, shares in ships, shares, or any other property transferable in the books of any company, office or person, the official assignee may exercise the right to transfer the property to the same extent as the insolvent might have exercised it, if he had not become insolvent. (4) Where any part of the property of the insolvent consists of things in action, such things shall be deemed to have been duly transferred to the official assignee. (5) Any treasurer or other officer, or any banker, attorney or agent of an insolvent, shall pay and deliver to the official assignee all money and securities in his possession or power as such officer, banker, attorney or agent, which he is not by law entitled to retain as against the insolvent or the official assignee.If he fails so to do, he shall be guilty of a contempt of Court, and shall be punishable.....

Presidency-towns Insolvency Act, 1909 Section 64

Title: Power to Call on Official Assignee to Disclaim

State: Central

Year: 1909

The Official assignee shall not be entitled to disclaim any property in pursuance of section 62 in any case where an application of in writing has been made to the official assignee by any person interested in the property requiring him to decide whether he will disclaim, and the official assignee has for a period of twenty-eight days after the receipt of the application, or such extended period as may be allowed by the Court, declined or neglected to give notice that he disclaims the property; and in the case of a contract, if the official assignee, after such application as aforesaid, does not within the said period or extended period disclaim the contract, he shall be deemed to have adopted it.

Presidency-towns Insolvency Act, 1909 Section 68

Title: Duty and Powers of Official Assignee as to Realization

State: Central

Year: 1909

.....of his debts or for the purpose of carrying on the business; (h) refer any dispute to arbitration, and compromise all debts, claims and liabilities, on such terms as may be agreed upon; (i) divide in its existing form amongst the creditors, according to its estimated value, any property which, from its peculiar nature or other special circumstances, cannot readily or advantageously be sold. {In the application of the Act to Bombay, this sub-section has been repealed: see the Presidency-towns Insolvency (Bombay Amendment) Act, 1933 (Bom.20 of 1933), s.11 and Sch.I} (2) The official assignee shall account to the Court and pay over all monies and deal with all securities in such manner {For Madras, the words "as is laid down in this Act or" have been ins.here by the Presidency-towns Insolvency (Madras Amendment) Act, 1943 (Mad.5 of 1943), s.3} as is prescribed or as the Court directs.

Presidency-towns Insolvency Act, 1909 Section 89

Title: Control of Committee of Inspection over Official Assignee

State: Central

Year: 1909

The committee shall have such powers of control over the ton proceedings of the official assignee as may be prescribed.

Presidency-towns Insolvency Act, 1909 Section 98

Title: Suits by Official Assignee and Insolvents Partners

State: Central

Year: 1909

(1) Where a partner in a firm is adjudged insolvent, the Court may authorize the official assignee to continue or commence and carry on any suit or other proceeding in his name and that of the insolvent's partner; and any release by the partner of the debt or demand to which the proceeding relates shall be void. (2) Where application for authority to continue or commence any suit or any other proceeding has been made under sub-section (1), notice of the application shall be given to the insolvent's partner, and he may show cause against it, and on his application the Court may, if it thinks fit, direct that he shall receive his proper share of the proceeds of the proceeding, and if he does not claim any benefit therefrom he shall be indemnified against costs in respect thereof as the Court directs.

Indian Councils Act, 1909 Complete Act

State: Central

Year: 1909

.....of the Governor-General. SECTION 06: LAVING OF PROCLAMATIONS, ETC., BEFORE PARLIAMENT All proclamations, regulations, and rules made under this Act, other than rules made by a Lieutenant- Governor for the more convenient transaction of business in his council, shall be laid before both Houses' of Parliament as soon as may be after they are made. SECTION 07: SHORT TITLE, CONSTRUCTION, COMMENCEMENT AND REPEAL (1) This Act may be cited as the Indian Councils Act, 1909, and shall be construed with the Indian Councils Acts, 1861andIndian Councils Acts, 1892 and those Acts, the Indian Councils Act, 1869 the Indian Councils Act, 1871 the Indian Councils Act, 1874, the Indian Councils Act, 1904 and this Act may be cited together as the Indian Councils Acts, 1861toIndian Councils Acts, 1909. (2) 3 This Act shall come into operation on such date or dates as the Governor-General in Council, with the approval of the Secretary of State in Council, may appoint, and different dates may be appointed for different purposes and provisions of this Act and for different Councils. On the date appointed for the coming into operation of this Act as respects any Legislative Council, all the.....

Presidency-towns Insolvency Act, 1909 Part II

Title: Proceedings from Act of Insolvency to Discharge

State: Central

Year: 1909

.....Insolvency and the Provincial Insolvency (Bombay Amendment) Act, 1939 (Bom.15 of 1939), s.2} Explanation.For the purposes of this section, the act of an agent may be the act of the principal, even though the agent have no specific authority to commit the act.{For s.9A, applicable to Bombay only, see s.2, ibid.} Section 10 - Power to adjudicate Subject to the conditions specified in this Act, if a debtor commits an act of insolvency, an insolvency petition may be presented either by a creditor or by the debtor, and the Court may on such petition make an order (hereinafter called an order of adjudication) adjudging him an insolvent. Explanation.The presentation of a petition by the debtor shall be deemed an act of insolvency within the meaning of this section, and on such petition the Court may make an order of adjudication. Section 11 - Restrictions on jurisdiction The Court shall not have jurisdiction to make an order of adjudication, unless (a) the debtor is, at the time of the presentation of the insolvency petition, imprisoned in execution of the decree of a Court for the payment of money in any prison to which debtors are ordinarily committed by the Court in.....

Presidency-towns Insolvency Act, 1909 Part III

Title: Administration of Property

State: Central

Year: 1909

.....of the act of insolvency on which an order of adjudication is made against him, or (b) if the insolvent is proved to have committed more acts of insolvency than one, the time of the first of the acts of insolvency proved to have been committed by the insolvent within three months next preceding the date of the presentation of the insolvency petition: Provided that no insolvency petition or order of adjudication shall be rendered invalid by reason of any act of insolvency committed anterior to the debt of the petitioning creditor. Section 52 - Description of insolvents property divisible amongst creditors (1) The property of the insolvent divisible amongst his creditors, and in this Act referred to as the property of the insolvent, shall not comprise the following particulars, namely: (a) property held by the insolvent on trust for any other a person; (b) the tools (if any) of his trade and the necessary wearing apparel, bedding, cooking vessel, and furniture of himself, his wife and children, to a value, inclusive of tools and apparel and other necessaries as aforesaid, not exceeding three hundred rupees in the whole. (2) Subject as aforesaid, the property.....