Bare Act Search Results

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.....

Bengal Excise Act, 1909 Complete Act

State: West Bengal

Year: 1909

.....spirits of wine, spirit, wine, tari, pachwai, beer, 2828. Words and figures subs. for the words and figures "Section 261 of the Bengal Municipal Act 1884" by W.B. Act 34 of 1965. * * * * * and any substance which the 2929. Word subs. for the words "excisable article" by the Government of India (Adaptation of Indian Laws) Order, 1937. [State Government] may, by notification, declare to be liquor for the purposes of this Act. 3030. Word subs. for the words "excisable articles" by the Government of India (Adaptation of Indian Laws) Order. 1937. Explanatton. In this clause "spirit of wine" means plain spirit of or above such strength as the State Government may, by notification, specify ; (15) "manufacture" includes (I) every process, whether natural or artificial, by which any 3131. Word subs. for the words "excisable article" by the Government of India (Adaptation Indian Laws) Order, 1937. [intoxicant] is produced or prepared (including the tapping of tari-producing trees and the drawing of tart from trees), (II) re-distillation, and (III) every process for the rectification, flavouring, blending or colouring of liquor, 3232. Words subs. for the words "is kept" by W.B. Act.....

Presidency Towns Insolvency Act, 1909 Complete Act

State: Central

Year: 1909

....."If this Bill be passed into law it will be necessary to repeal the 1848 Act, and this raise a question which deserves consideration. The present Act is an Act of the imperial Parliament and a vesting order made under it vests in the assignee by direct operation all the real and personal estate and effects of the insolvent in whatever part of the King's dominions they may be situate or accrue; and a discharge under the Act has effect in every part of those dominions. The Act is one of those which it is within the competency of the Legislative Council of the Governor-General to repeal, but if it be repealed and an Indian Act be substituted, it follows that these advantages must at least for the most part be abandoned, since an Act of the Indian Legislature cannot operate for this purpose outside the limits of India. In 1886 it was proposed that an Act of the Imperial Parliament should be obtained to give this authority to insolvency proceedings in India, but no such Act has as yet been passed. It is believed, however, that the advantages conferred by the Act of 1848 are of no real value, since experience has shown that in practically every case in which there are assets in both.....

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.....

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 XII

Title: Supplemental

State: Central

Year: 1909

.....(Madras Amendment) Act, 1943 (Mad.5 of 1943), s.16} Section 126 - Courts to be auxiliary to each other All Courts having jurisdiction under this Act shall make such orders and do such things as may be necessary to give effect to section 118 of the Bankruptcy Act, 1883, and to section 50 of the Provincial Insolvency Act, 1907.{See now the Provincial Insolvency Act, 1920 (5 of 1920)}. Section 127 - Saving {Sub-section (1) and the words "Notwithstanding the repeal effectedby this Act," in sub-section (2) rep.by Act 10 of 1914, s.3 and Sch.II} (2) {Sub-section (1) and the words "Notwithstanding the repealeffected by this Act," in sub-section (2) rep.by Act 10 of 1914, s.3 andSch.II} The proceedings under an insolvency petition under the IndianInsolvency Act, 1848, pending at the commencement of this Act shall, except sofar as any provision of this Act is expressly applied to pending proceedings,continue, and all the provisions of the said Indian Insolvency Act shall, exceptas aforesaid, apply thereto, as if this Act had not been passed.

Presidency-towns Insolvency Act, 1909 Section 124

Title: Access to Insolvents Book

State: Central

Year: 1909

(1) No person shall, as against the official assignee, be entitled to withhold possession of the books of accounts belonging to the insolvent or to set up any lien thereon. (2) Any creditor of the insolvent may, subject to the control of the Court, and on payment of such fee, if any, as may be prescribed, inspect at all reasonable times, personally or by agent, any such books in the possession of the official assignee.

Presidency-towns Insolvency Act, 1909 Section 36

Title: Discovery of Insolvents Property

State: Central

Year: 1909

.....admits] that he has in his possession any property belonging to the insolvent, the Court may, on the application of the official assignee, order him to deliver to the official assignee that property, or any part thereof at such time, in such manner and on such terms as to the Court may seem just. (6) Orders made under sub-sections (4) and (5) shall be executed in the same manner as decrees for the payment of money or for the delivery of property under the Code of Civil Procedure, 1908, respectively. (7) Any person making any payment or delivery in pursuance of an order made under sub-section (4) or sub-section (5) shall by such payment or delivery be discharged from all liability whatsoever in respect of such debt or property.

Presidency-towns Insolvency Act, 1909 Section 34

Title: Arrest of Insolvent

State: Central

Year: 1909

.....that there is probable reason for believing that he is about to remove his property with a view of preventing or delaying possession being taken of it by the official assignee, or that there is probable reason for believing that he has concealed or is about to conceal or destroy any of his property or any books, documents or writings which might be of use to his creditors in the course of his insolvency; or (c) if he removes any property in his possession above the value of fifty rupees without the leave of the official assignee. (2) No payment or composition made or security given after arrest made under this section shall be exempt from the provisions of this Act relating to fraudulent preferences.

Presidency-towns Insolvency Act, 1909 Section 33

Title: Duties of Insolvent as to Discovery and Realization of Property

State: Central

Year: 1909

.....and (e) generally do all such acts and things in relation to his property and the distribution of the proceeds amongst his creditors. as may be required by the official assignee or special manager or may be prescribed or be directed by the Court by any special order or orders made in reference to any particular case, or made on the occasion of any special application by the official assignee or special manager, or any creditor or person interested. (3) The insolvent shall aid, to the utmost of his power, in the realization of his property and the distribution of the proceeds among his creditors. (4) If the insolvent wilfully fails to perform the duties imposed upon him by this section, or to deliver up possession to the official assignee of any part of his property, which is divisible amongst his creditors under this Act and which is for the time being in his possession or under his control, he shall, in addition to any other punishment to which he may be subject be, guilty of a contempt of Court, and may be punished accordingly.