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No. 4. Ordinance to allow and confirm
No. 5. Ordinance to amend the law
Order limiting quantity of Gunpowder to be
No. 7. Ordinance to provide for the Ser-
No. 8. Ordinance to amend the "Gold
No. 6. Ordinance providing for a subsidy January 21st, 1887.
in aid of a certain Telegraph
No. 1. Ordinance to amend the Law with
No. 2. Ordinance to establish payment
No. 3. Ordinance to promote the main-
No. 4. Ordinance to provide for the Ser-
No. 5. Ordinance amending the Customs.
No. 6. Ordinance to reduce for the time
September 17th, 1886.
December 23rd, 1886.
CAPE COAST CASTLE.
Major HENRY BIRD, Acting Governor.
ORDINANCE to make Provision with reference to Bankrupt and
WHEREAS an Ordinance was passed on the 4th day of February, 1857, by the Governor of Her Majesty's Forts and Settlements on the Gold Coast, with the advice of the Legislative Council thereof, entitled as this Ordinance is entitled, but which Ordinance was not allowed by Her Most Gracious Majesty Be it therefore enacted by his Excellency Major Henry Bird, Acting Governor of Her Majesty's Forts and Settlements on the Gold Coast, with the advice and consent of the Legislative Council thereof:
1. That the Gold Coast Bankrupt and Insolvent Ordinance, Repeal of 1856, and the Gold Coast Bankrupt and Insolvent Ordinance, Ordinances 1857, are hereby repealed.
of 1856 and 1857.
2. In this Ordinance words of one number and gender Interpretashall, if not inconsistent with the context or subject matter, tion of import respectively both numbers and genders; and the term "these Settlements" shall include as well the aforesaid Forts and Settlements as all Territories adjacent thereto in which Her Majesty has jurisdiction.
Jurisdiction of courts.
Creditors how to bo represented.
3. Proceedings under this Ordinance may be taken and carried on in respect to any debtor in any court of justice which would be competent to enforce payment of the largest amount then appearing to be due from such debtor to any one of his creditors.
Creditor may petition that debtor may be declared insolvent.
4. Any act which may be done, or power which may be exercised, by any creditor under this Ordinance, may be done or exercised by any person who shall satisfy such court as aforesaid that he is the general or known agent of such creditor, or that he is authorized to represent such creditor by writing under his hand; and if any person shall be indebted to any firm or partnership, such firm or partnership shall, for the purpose of this Ordinance, be considered as one creditor, and may be represented by any member thereof.
5. Any debtor resident in these Settlements may present a petition to the supreme or other competent court that he may be declared insolvent, and such petition shall have annexed to Viet. c. 116. it, in such form as may be prescribed by any rule of court, a schedule of the petitioner's debts, specifying the names of his creditors, the date of contracting each debt, the value and amount thereof, and the security, if any, given for the same, and also of the nature and amount of the petitioner's property, and of the debts owing to him, the names of his debtors, and the nature of the securities, if any, which he may have for such debts; and such petition shall also set forth any proposal which he may have to make for payment of the whole or part of his debts; and the court may inquire into the correctness of such schedule, and may summon before it and examine on oath all persons capable of giving evidence respecting such correctness, and may after such inquiry declare the petitioner to be insolvent.
6. Any creditor to whom twenty-five pounds sterling are owing, or any two creditors to whom thirty-five pounds sterling are owing, or any three or more creditors to whom fifty pounds sterling are owing, from any debtor resident or having property in these Settlements, may present a petition to the supreme or other competent court that such person may be declared insolvent; and if it shall be shown to the satisfaction of the court that such person is in insolvent circumstances, or that he is and has remained for twenty-one days in prison for nonpayment of any debt, or that within the six calendar months next preceding he has, with intent to defeat or delay his creditors, absented himself from the Colony or from his dwelling house, or kept his house, or made or caused to be
made any fraudulent disposition or alienation of any part of his property, or allowed himself to be arrested or outlawed, or his property to be attached, sequestered, or taken in execution, the court may declare such person insolvent, and shall thereupon require him, by such notice as the court may think fit to furnish, within such time and in such manner as may be specified in such notice, such a schedule of his debts and property as aforesaid, and shall inquire into the correctness of such schedule, and may examine witnesses in respect thereof in manner aforesaid.
7. After the presentation of any such petition as aforesaid, the court may take such steps for securing the person or property of the debtor as may seem to be requisite for the general interest of the creditors, and especially may require the debtor to give security that he will not leave the Colony; but no execution may be issued against his property, or any part thereof, on account of any individual creditor.
secure present property of
Court may debtor.
8. As soon as may be after any debtor is declared insol- Court to vent, the court shall cause to be prepared, and may from time prepare list of to time alter and revise, a list of his creditors, and of the amount due to each of them, and shall, by such notice as may be prescribed by any rule of court, require all the creditors named in such list to attend a meeting to be held at a time and place specified in such notice, and shall designate some person who shall preside at such meeting, and the majority in number and value of the said creditors may elect two persons, Election of to be approved by the court, as assignees of the insolvent's assignees. property.
9. The court may disallow the election of any assignee Court may whom it may deem unfit for the office, and may appoint disallow another assignee in his room.
case of non
10. If the person presiding at such meeting or adjourn- Court may ment thereof shall signify to the court that no election has appoint in been made, the court shall appoint both assignees; and if he election. shall signify that only one assignee has been appointed, the court shall appoint the other.
11. The court may remove any assignee on being satisfied Court may of his unfitness or misconduct, or in case he shall be absent remove from the Settlements for more than two weeks.
12. Any vacancy among the assignees may be filled up in Vacancy the manner herein before prescribed for the original election among or appointment of assignees; and as soon as the incoming supplied. assignee shall be appointed or approved by order of the court
all the rights and property of the insolvent shall, without conveyance, vest to him in like manner as if he had been one of the original assignees.
13. The court may, upon the application of the insolvent or of any of the creditors, or of either of the assignees, order a meeting of creditors to be convened for any purpose specified in such order, and shall designate one of the assignees to preside at the meeting.
14. The assignees shall give such notice of the said meeting as the court shall direct, and shall allow any person deputed by the court to witness and report the proceedings.
15. No decision shall be deemed to have been adopted at any such meeting unless it shall have been supported either by a majority in number and value, or by persons comprising two fifths in number and representing three fifths of the debts still due to the creditors voting at such meeting.
16. The decisions of every meeting shall be forthwith notified by the assignees to the court, which may confirm or disallow the same.
18. As soon as the court shall by its order (hereafter called the vesting order) have approved or appointed two assignees of the insolvent's estate, all the property of the insolvent, whether real or personal, and whether in possession or in expectancy, and all rights of action (except on account of personal injuries) shall vest in the assignees, in trust to use and apply the same as hereinafter mentioned, and may be held or exercised by such assignees in all respects as they might have been held or exercised by the insolvent: Provided only, that (unless otherwise ordered by the ccurt) the insolvent shall be allowed to retain the apparel of himself and his family, together with his furniture and tools of trade not exProviso as to ceeding in the whole twenty pounds in value: Provided also, that if any property of the insolvent shall be held at a rent, the assignees shall within two calendar months after ascertaining that fact apply to the court for directions (which shall bind all parties concerned therein) either to surrender such property to the landlord or to retain it; but so long as such property shall be held by the assignees the rent shall be paid in full, so far as the property of the insolvent will extend.
17. The assignees shall, previously to their appointment or approval by the court, give such security as to the court shall seem fit for the proper performance of their duties.