Bankruptcy Act 1705
The Bankruptcy Act 1705 (4 & 5 Ann. c. 4) was an Act of Parliament of England.
| Act of Parliament | |
.svg.png.webp) | |
| Long title | An Act to prevent Frauds frequently committed by Bankrupts. |
|---|---|
| Citation | 4 & 5 Ann. c. 4 (Ruffhead: 4 Ann. c. 17) |
| Dates | |
| Royal assent | 19 March 1706 |
| Repealed | 15 July 1867 |
| Other legislation | |
| Repealed by | Statute Law Revision Act 1867 |
Status: Repealed | |
Content
Under the Act, the Lord Chancellor was given power to discharge bankrupts, once disclosure of all assets and various procedures had been fulfilled.
Discharge from debt was introduced for those who cooperated with creditors. The discharge took effect once a bankrupt obtained a certificate of the bankruptcy commissioners providing that there has been full disclosure and adherence to their directions.
Notes
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.