Keyword(s):
Central Act Amendment, The Presidency Towns Insolvency Act, 1909
An Act to amend the Presidency-towns In-
solvency Act, 1909, in its application to
the presidency-town of .Madras.
WHEREASit is expedient to amend the Presidency-
towns Insolvency Act, 1909, in its application to the 1909.
Presidency-town of Madras, for the purposes herein-
after appearing ;3[It is hereby enacted as follows :-]
- (1) This Act may be called the Presidency-
towns Insolvency (‘[Tamil Nadu] Amendment)
Act, 1943.
(2) This section shall come into force at once,
and the rest of this Act shall come ir~toforce on such
‘date as the 5LState] Government may, by notification
in the Fort St. George Qtrzette, appoint. - Section 61 of the Presidency-towns insc\lvency
Central
Act 111
Act, 1909 (hereinafter referred to ns the said Act), of 1909.
shall be omitted. - In sub-section (2) of section 68 of thc said Act,
after the words “in such manner “, thc words “as is
laid down in this,Act or ” shall be inserted.
1 These words were substituted for the word “Madras ” by thc
TamilNadu Adaptation of Laws Order,1969,asanlcnded by thcTun~il
Nadu Adaptat ion of Laws (Second Amendment) Order, 1969.
ForStatement of Objects and Reasons, see Fort St. George Gazette,
dated the 7th July 1942, Part IV-A, pages47-48.
These words were substituted for the ,para,tnph containing the
enactingformula and the paragraph preced~ngthat paragraph by sec-
tion 5 of the Tamil Nadu Re-enacttng and Repeal ng (KO.1) Act,
1948 (Tam11 Nadu Act VII of 1948).
4 Came into force on the 1st April 1943.
6 This word was substituted for the word ‘!Provincd ” by &a
Adaptation Ordcr of 1950,
Central
Act I11 av
-*
f
Y”
19& :’T.N. Act V1 Presidency -to~n.so~~errc~ 875 ‘ I
(Tamil Nadu Amemdment)
/ - Tn section 71 of the said ~ct-
Amendment
ofsection 71,
1909*
(a) in sub-section (I), for the words “in his hands,” Central Act
the words “under his control ” shall be substituted ;n1
, (b) in sub-section (2), for the words “in hand,”
the words “realized by the official assignee ” shall be
substituted. +, - In section 72 of the said Act, for the words “in $~
the hands ” the words “under the control ” shall be Central AC~
~
~
~
~
~
~
,
111 of 1909.
substituted. - In section 74 of the said Act, for the words “pay Amendment
of section 74,
Amendment
it, and also to pay out of his own money interest ant,l Act
thereon “,the words “pay^such dividend and interest III of 1909.
Central Act - In section 77 of the said Act-
paragraph shall be added, namely :-
I
I
1
IU: of 1909.
(a) to clause (0) of sub-section (I) the following of section 77,
I
I
Insertion of - Aftcr section 77 of the said Act, the following new section
i
“The official-assignee, the deputy official-
assignee or assignees, if any, and all other officers and
servants subordinate to the official-assignee (other than
those employed in estates under his administration) shall
form part of the staff attached to the said Court”;
(b) in sub-section (2), the words” shall give
such security and “shall bo omitted.
section shall be inserted, namely :-
thereon” shall be substituted.
I/
I
77-A ~n
Central Act
111 of 1909.
I
1
,
“77-A. (1) The official assignee shall bc a corpo- official
ration sole by the name of thc Official Assignee of assignee to
Madras and as such-OfficialAssignee shall have per- ba corpora-
tion sole.
I
.
,
b
petual succ;.ssion and an official seal and may sue and
be sued in his corporate name and may do all acts
necessary or expedient to be done in the execution of
his office.
(2) 111 all suits or proceedings by or against
the official assignee, there shall be inserted after hrs
official title the description ‘as assignee of the prc-
perty of an insolvent (naming the particular insol-
vent)”.
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