Bankruptcy. Arrangement in bankruptcy to be due to him, and the amount of PART VI. such debt, with any prescribed particulars; and any Liquidation by person wilfully making a false declaration in relation to such debt shall be guilty of a misdemeanor. (3.) The debtor, unless prevented by sickness or other cause satisfactory to such meeting, shall be present at the meeting at which the special resolution is passed, and shall answer any inquiries made of him, and he, or if he is so prevented from being at such meeting some one on his behalf, shall produce to the meeting a statement showing the whole of his assets and debts, and the names and addresses of the creditors to whom his debts are due. (4.) The special resolution, together with the statement of the PART VI. Liquidation by PART VII. Composition with Creditors. Regulations as to composition by creditors. Bankruptcy. deemed to be equivalent to and a substitute for the (9.) The provisions of this Act with respect to the close of the (11.) Rules of Court may be made in relation to proceedings on (12.) If it appear to the Court on satisfactory evidence that the (13.) Where no committee of inspection is appointed the trustee PART VII. COMPOSITION WITH CREDITORS. 126. The creditors of a debtor unable to pay his debts may, without any proceedings in bankruptcy, by an extraordinary resolution, resolve that a composition shall be accepted in satisfaction of the debts due to them from the debtor. An extraordinary resolution of creditors shall be a resolution which has been passed by a majority in number and three fourths Bankruptcy. in value of the creditors of the debtor, assembled at a general meeting to be held in the manner prescribed, of which notice has been given in the prescribed manner, and has been confirmed by a majority in number and value of the creditors assembled at a subsequent general meeting, of which notice has been given in the prescribed manner, and held at an interval of not less than seven days nor more than fourteen days from the date of the meeting at which such resolution was first passed. In calculating a majority for the purposes of a composition under this section, creditors whose debts amount to sums not exceeding ten pounds shall be reckoned in the majority in value, but not in the majority in number, and the value of the debts of secured creditors shall, as nearly as circumstances admit, be estimated in the same way, and the same description of creditors shall be entitled to vote at such general meetings as in bankruptcy. The debtor, unless prevented by sickness or other cause satisfactory to such meetings, shall be present at both the meetings at which the extraordinary resolution is passed, and shall answer any inquiries made of him, and he, or if he is so prevented from being at such meetings some one on his behalf, shall produce to the meetings a statement showing the whole of his assets and debts, and the names and addresses of the creditors to whom such debts respectively are due. The extraordinary resolution, together with the statement of the debtor as to his assets and debts, shall be presented to the registrar, and it shall be his duty to inquire whether such resolution has been passed in manner directed by this section, and if satisfied that it has been so passed he shall forthwith register the resolution and statement of assets and debts, but until such registration has taken place such resolution shall be of no validity; and any creditor of the debtor may inspect such statement at prescribed times, and on payment of such fee, if any, as may be prescribed. The creditors may, by an extraordinary resolution, add to or vary the provisions of any composition previously accepted by them, without prejudice to any persons taking interests under such provisions who do not assent to such addition or variation; and any such extraordinary resolution shall be presented to the registrar in the same manner and with the same consequences as the extraordinary resolution by which the composition was accepted in the first instance. The provisions of a composition accepted by an extraordinary resolution in pursuance of this section shall be binding on all the creditors whose names and addresses, and the amount of the debts due to whom, are shown in the statement of the debtor, produced to the meetings at which the resolution has passed, but shall not affect or prejudice the rights of any other creditors. Where a debt arises on a bill of exchange or promissory note, if the debtor is ignorant of the holder of any such bill of exchange or promissory note, he shall be required to state the amount of such bill or note, the date on which it falls due, the name of the PART VII. Composition with Creditors. PART VII. Composition with Creditors. Registration of resolutions of creditors conclusive in certain cases. PART VIII. Temporary Commissioners to hold offices. Transfer of officers of existing Court to new Court of Bankruptcy. Bankruptcy. acceptor or person to whom it is payable, and any other particulars within his knowledge respecting the same, and the insertion of such particulars shall be deemed a sufficient description of the creditor of the debtor in respect of such debt, and any mistake made inadvertently by a debtor in the statement of his debts may be corrected after the prescribed notice has been given, with the consent of a general meeting of his creditors. The provisions of any composition made in pursuance of this section may be enforced by the Court on a motion made in a summary manner by any person interested, and any disobedience of the order of the Court made on such motion shall be deemed to be a contempt of Court. Rules of Court may be made in relation to proceedings on the occasion of the acceptance of a composition by an extraordinary resolution of creditors in the same manner and to the same extent and of the same authority as in respect of proceedings in bankruptcy. If it appear to the Court on satisfactory evidence that a composition under this section cannot, in consequence of legal difficulties, or for any sufficient cause, proceed without injustice or undue delay to the creditors or to the debtor, the Court may adjudge the debtor a bankrupt, and proceedings may be had accordingly. 127. The registration by the registrar of a special resolution of the creditors on the occasion of a liquidation by arrangement under Part Six of this Act, or of an extraordinary resolution of the creditors no the occasion of a composition under the Seventh Part of this Act, shall, in the absence of fraud, be conclusive evidence that such resolutions respectively were duly passed and all the requisitions of this Act in respect of such resolutions complied with. PART VIII. TEMPORARY PROVISIONS. 128. Such one of the present Commissioners of the London Bankruptcy Court as may be chosen by Her Majesty shall be the first Chief Judge in the London Bankruptcy Court as constituted under this Act, and shall, as to tenure of office, salary, pension, and all other privileges except his title, continue in the same position in all respects as if his office had not been abolished by this Act; but, save as aforesaid, from and after the commencement of this Act the present Commissioners of the London Bankruptcy Court shall cease to hold their offices. 129. The chief registrar, registrars, accountant in bankruptcy, taxing masters, official assignees, messengers, and all other officers holding offices or employed in the existing London Bankruptcy Court, herein called the Old London Bankruptcy, at the commencement of this Act, shall, unless the Lord Chancellor otherwise directs, be attached to the London Bankruptcy Court as constituted under this Act, herein called the New London Bankruptcy Court. The officers so attached shall have the same Bankruptcy. relative rank, hold their offices by the same tenure and upon the same terms and conditions, and receive the same salaries as heretofore. The Lord Chancellor may by order make provision for winding up such portion of the business pending in the said old Bankruptcy Court as cannot conveniently be transferred to the new Bankruptcy Court, and for transferring to such last-mentioned Court any business capable of being conveniently transferred, and every officer attached to such last-mentioned Court shall conform to any order so made by the Lord Chancellor. The Lord Chancellor may by order distribute the business to be performed in the said new Bankruptcy Court amongst the several officers attached thereto in such manner as he may think just, and such officers shall perform such duties in relation to such business as may be directed by the Lord Chancellor, with this qualification, that the duties required to be performed by them shall be the same or duties analogous to those which they have hitherto performed in the old Bankruptcy Court. The Lord Chancellor may at any time by order release from the performance of any duties in the new Bankruptcy Court any officer of the old Bankruptcy Court whose services he may deem unnecessary, and the office held by such person shall be deemed to be abolished unless it be an office required to be continued in pursuance of the provisions of this Act relating to the constitution of the new Bankruptcy Court. Any person so released shall, whether his office be altogether abolished or not, be entitled to compensation in the same manner in all respects as if his office had been abolished. PART VIII. Temporary Provisions. trict Courts of 130. From and after the commencement of this Act the Abolition of Country District Courts of Bankruptcy shall be abolished, and the Country Discommissioners, registrars, official assignees, messengers, ushers, Bankruptcy. clerks, and officers of the said Courts respectively shall cease to hold their offices. Such part of the business pending in any Country District Court of Bankruptcy as the Lord Chancellor thinks fit shall be disposed of by the registrar of that Court, (who shall for that purpose continue to have and discharge all his powers and authorities, rights and duties,) and the residue of that business shall be transferred to the London Bankruptcy Court, or to such County Court or County Courts as the Lord Chancellor, by order before or after its abolition, thinks fit to direct; but, subject as aforesaid, the office of any registrar in such Country District Court shall be abolished. All books, papers, documents, and money in the custody or control of any such commissioners, registrars, official assignees, messengers, ushers, clerks, and officers, as such, shall be transferred to such Courts or persons as the Lord Chancellor may direct. The Lord Chancellor shall also by order declare the person or persons in whom any property vested in any official assignee or other officer as such of any Country District Court hereby abolished is to vest, and such property shall vest accordingly. 131. The Commissioners of Her Majesty's Treasury may, on Compensation the petition of any person whose office or employment is abolished to officers. by or under this Act, on the commencement of this Act or on any |