Bankruptcy Act 1705

The Bankruptcy Act 1705 (4 & 5 Ann. c. 4) was an Act of Parliament of England.

Act of Parliament
Long titleAn Act to prevent Frauds frequently committed by Bankrupts.
Citation4 & 5 Ann. c. 4
(Ruffhead: 4 Ann. c. 17)
Dates
Royal assent19 March 1706
Repealed15 July 1867
Other legislation
Repealed byStatute Law Revision Act 1867
Status: Repealed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.

See also

Notes

    This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.