" 2. If be shall not, upon his examination, fully and truly discover, to the best of his knowledge and belief, all his property, real and personal, inclusive of his rights and credits, and how and to whom, and for what consideration, and when he disposed of, assigned, or transferred any part thereof, except such part as has been really and bond fide before sold or disposed of in the way of his trade or business, if any, or laid out iu the ordinary expense of his family, or shall not deliver up to the court, or dispose, as tho court directs, of all such part thereof as is In his possession, custody, or power, except the necessary wearing. apparel of himself, his wife, and children, and deliver up to the court all books, papers, and writings in his possession, custody, or power relating to his property or affairs.
"3. If he shall, after adjudication, or within sixty days prior to adju dication, with intent to defraud his creditors, remove, conceal, or embezzle any part of his property to the value of ten pounds or upwards.
4. If. in case of any person having, to his knowledge or belief, proved a false debt under his bankruptcy, he shall fail to disclose the same to his assignees within one month after coming to the knowledge or belief thereof.
" 5. If he shall, with intent to defraud, wilfully and fraudulently omit from his schedule any effects or property whatsoever.
" 6. If he shall, after the filing of the petition for adjudication, with intent to conceal the state of his affairs, or to defeat the object of the law of bankruptcy, conceal, prevent, or withhold the production of any book, deed, paper, or writing relating to his property, dealings, or affairs.
" 7. If he shall, after the filing of the petition for adjudication, or within three months next before adjudication, with intent to conceal the state of his affairs, or to defeat the objects of the law of bank ruptcy, part with, conceal, destroy, alter, mutilate, or falsify, or cause to be concealed, destroyed, altered, mutilated, or falsified, any book, paper, writing, or security, or document relating to his property, trade, dealings, or affairs, or make or be privy to the making of any false or fraudulent entry or statement in ur omission from any book, paper, document, or writing relating thereto.
" B. If, within the like time, he shall, knowing that he is at the time unable to meet his engagements, fraudulently and with intent to diminish the sum to be divided amongst the general body of his creditors, have made mortgaged, encumbered, or charged any part of his property, of .what kind soever, or if after adjudication lie shall conceal from the court or his assignee any debt due to or from him.
" 9. If, being a trader, he shall, under his bankruptcy, or at any mectiug of his creditors within three months next preceding the filing of the petition for adjudication, have attempted to account for any of his property by fictitious losses or expenses.
"10. If, being a trader, ho shall, within three months next before the filing of the petition for adjudication,under the false colour and pretence of carrying on business and dealing in the ordinary course of trade, have obtained on credit from any person any goods or chattels with intent to defraud.
" 11. If, being a trader, he shall, with intent to defraud his creditors, within three menthe next before the filing of the petition for adjudica tion, pawn, pledge, or dispose of, otherwise than by bona fide transac tions in the ordinary way of his trade, any of his geode or chattels which have been obtained on credit and remain unpaid for." Orders of discharge are in their effect analogous to certificates of conformity under the previous law.
Arrangements under the Control of the Creditors may, by a due majority, resolve that the proceedings hi bankruptcy be stayed and that the bankrupt's estate be wound up under a deed of arrangement, and such resolution may, if approved by the court, be carried into effect ; and when after such stay of proceedings the deed of arrange ment has been duly certified to have been executed by three-fourths in number and value of all the creditors, and when it has been approved by the court, it must be registered, and the proceedings In bankruptcy may then be annulled, and such deed of arrangement will thereupon become binding upon all the creditors. The jurisdiction of the court is not however ousted by the deed of arrangement, and recourse for direction and assistance may still be had to it by all parties as in ordinary bankruptcy.
Trust and Composition Deeds are to be binding upon all creditors, when certain conditions are fulfilled ; and such deeds must be registered, and notice thereof must be duly advertised. Proceedings in bank ruptcy may be stayed during twenty-eight days from the execution of any such deed by a debtor. Provision is made for the case of unknown holders of bills of exchange, &c., and of absent or incapable creditors ; and a very curious form of trust deed is given in Schedule D, and its use is rendered imperative.
Many acts relating to bankruptcy are either wholly or in part repealed ; but the 7 & 8 Vict., c. 70, and the 23 & 24 Vict., c. 147 (the Secret Arrangement Acts), are strangely enough retained, notwith standing their mischievous and anomalous clutracter.
Such is a brief outline of some of the principal features of this very important statute, which is to be cited as " The Bankruptcy Act, 1861," and to be construed, together with so much of " The Bankrupt Law Consolidation Act, 1849," and " The Bankruptcy Act, 1854," as remains unrepealed, as one act.
It only remains to be noticed that this act provides that in all cases of executions levied upon goods in respect of judgments for claims exceeding 50/. exclusive of costs, such goods must, unless the court otherwise orders, be sold by public auction and ,uot otherwise, and such auction must be advertised for three days next preceding the day of sale ; but what this provision has to do with bankruptcy, or what are to be the consequences of disobedience, does not very clearly appear.