BANKRUPTCY ACT, 1988

• (2) The order shall for all purposes be deemed to be a conveyance, assignment or transfer of property and, where appropriate, may be registered accordingly.

103. Goods obtained on credit. (New)

103.—If within fourteen days before an order for protection is made the debtor obtains goods on credit knowing at the time that he will be unable to pay for them the Court, on the application of the creditor, may, if it thinks fit, direct either the return of the goods or payment for them in full.

104. Private sitting for enquiry. (1857, s. 353 in pt.)

104.—The Court may at any time in an arrangement matter, on the application of the Official Assignee or any person having an interest, appoint a private sitting for enquiry and summon before it the arranging debtor or any other person and examine him upon any matter which the Court considers relevant to the arrangement.

105. Adjudication of arranging debtor. (New: cf. 1857, s. 353 in pt.)

105.—(1) The Court may, if it thinks fit, adjudicate the debtor bankrupt if—

• (a) he does not, in the prescribed manner and within the time specified in section 91, file the documents required by that section, or

• (b) at the private sitting referred to in section 90 or any adjournment thereof his proposal or any modification thereof is not accepted or approved, or

• (c) his proposal is annulled under section 95 (2), or

• (d) at any time after the presentation of his petition for arrangement it is shown that the affidavit filed with the petition is wilfully untrue or that he has not made a full disclosure of his property, assets and liabilities, or

• (e) it appears that he does not wish to make a bona fide arrangement with all his creditors, or

• (f) his proposal is not reasonable and proper to be executed under the direction of the Court, or

• (g) he does not duly attend the private sitting or any adjournment thereof, or

• (h) he fails to obey any order of the Court affecting him which may be made in the arrangement matter, or

• (i) he is party to any corrupt agreement with his creditors to secure the acceptance of his proposal.

• F97[(2) On an adjudication under subsection (1) the Court shall proceed as in bankruptcy and cause notice of the adjudication to be given forthwith in the prescribed manner in the Iris Oifigiúil, and—

• (a) in at least one daily newspaper circulating in the State, or

• (b) by the publication of the notice on the website of the Insolvency Service of Ireland,

and the petitioner shall be subject to the jurisdiction of the Court in the same manner as any other bankrupt, and any proposal which may have been made or accepted or approved shall be void.]

106. Partners obtaining protection of the Court. (New)

106.—(1) Where two or more members of a partnership obtain the protection of the Court and make proposals to their creditors for the payment or compromise of their joint and several liabilities, the Court shall adjudicate all the members bankrupt if any of the proposals are not accepted.

• (2) On an adjudication under subsection (1) the Court shall proceed as in bankruptcy and cause notice of the adjudication to be given forthwith in the prescribed manner in Iris Oifigiúil and in at least one daily newspaper, and the petitioner shall be subject to the jurisdiction of the Court in the same manner as any other bankrupt, and any proposal which may have been made or accepted or approved shall be void.

107. Summoning witnesses. (1857, s. 353 in pt.)

107.—The procedure for summoning witnesses in an arrangement matter shall be the same as in bankruptcy and the Court shall have similar powers of enforcing their attendance.

108. Registration of arrangements. (New: cf. 1887, c. 57, s. 7; 1890, c. 24, s. 2)

108.—(1) A register shall be maintained in the Central Office for the filing of memoranda delivered to that office under section 90.

• (2) Rules of court may provide for matters ancillary to the keeping of the register.

109. Exclusion of Deeds of Arrangement Act, 1887. (New)

109.—The Deeds of Arrangement Act, 1887, shall not apply to an arrangement under this Part.

PART V Winding up by Trustee

110. Order for winding up. (1872, ss. 87-122)

F98[110.— Where at least three-fifths in number and value of the creditors voting at a meeting of the creditors, either in person or by a person authorised in writing in that behalf, by resolution declare that the estate of the bankrupt be wound up by a trustee and a committee of inspection, and appoint for that purpose a trustee and a committee of inspection of not more than 5 creditors qualified to vote at the meeting, the Court may on application being made to it in that behalf not later than 90 days after the date of the making of the adjudication order in respect of that bankruptcy, order that the property of the bankrupt be so wound up.]

111. Vesting in trustee.

111.—On the making of an order under section 110 the Official Assignee shall be divested of the property of the bankrupt vesting in him under this Act and such property shall vest in the trustee.

112. Powers of trustee, etc.

112.—(1) F99[ In the winding up the trustee shall be subject to the control of the Court and shall have regard to any directions given to him by the committee of inspection or by resolution of the creditors.]

• (2) Subject to subsection (1), the trustee shall have all the powers and may perform all the functions conferred by this Act on the Official Assignee in relation to property vested in him and the provisions of this Act (other than those of Parts IV and VI) shall apply, with any necessary modifications, in relation to the winding up of the property of a bankrupt by a trustee and a committee of inspection as they apply in relation to the administration of such property by the Official Assignee and the trustee shall be substituted for the Official Assignee in such provisions where appropriate.

• (3) F100[Where on an application to it under section 110 the Court makes an order referred to in that section it shall at the same time make provision for]:

• (a) the remuneration of the trustee,

• (b) the making of regular reports by the trustee at subsequent sittings in relation to the winding up,

• (c) the procedure to be followed by the trustee in the lodgment of monies received by him,

• (d) the audit of the trustee's accounts, and

• (e) such other matters as may be prescribed.

113. Order of discharge.

113.—When the bankrupt's property has been fully realised and a final dividend has been paid to the creditors, the trustee shall report to the Court, and the Court, if satisfied that the estate has been fully wound up, shall declare the bankruptcy discharged and order that the trustee be released.

114. Powers of Court.

114.—Where an order is made under this Part for the winding up of the bankrupt's property by a trustee and a committee of inspection, the Court shall, subject to the provisions of this Part, have power to make such orders and give such directions in relation to the bankrupt, his creditors, debtors and property and in relation to the examination of persons (including the bankrupt) and other matters as it would have had if a trustee and a committee of inspection had not been appointed under this Part.

PART VI Estates of Persons Dying Insolvent

115. Petition to administer in bankruptcy estate of person dying insolvent. (New)

115.—(1) A petition for the administration under this Part of the estate of a deceased person may be presented to the Court by—

• (a) any creditor whose debt would have been sufficient to support a bankruptcy petition against the deceased if he had been alive, or

• (b) the personal representative of the deceased.

• (2) Where the petition is presented by a creditor, notice thereof shall be served on the personal representative of the deceased.

• (3) Where there is no known personal representative, the Court may direct service on such person and in such manner as it thinks fit or may dispense with service.

• (4) A petition for administration under this Part shall not be presented to the Court after proceedings have been commenced in the Circuit Court for the administration of the deceased's estate, but that court may, when satisfied that the estate is insufficient to pay the debts, transfer the proceedings to the Court, and thereupon the Court may make an order for the administration under this Part of the deceased's estate.

116. Effect on personal representative of service of notice of petition. (New)

116.—(1) After service on the personal representative of notice of the presentation of a petition, no payment or transfer of property made by the personal representative shall operate as a discharge to him as between himself and the Official Assignee.

• (2) Except as aforesaid, nothing in this Part shall invalidate any payment made or any act or thing done in good faith by the personal representative before the date of the order for the administration under this Part of the deceased's estate.

117. Order for administration under Part VI. (New)

117.—(1) On presentation of a petition the Court may, unless it appears that there is a reasonable probability that the estate will be sufficient for the payment of the deceased's debts, make an order for the administration under this Part of the deceased's estate or may, upon cause shown, dismiss the petition with or without costs.

• (2) Where the petition is presented by a creditor, he shall prove his debt to the Court before an order is made.

• (3) An order may be made under this section notwithstanding that there is no known personal representative of the deceased.

118. Vesting and distribution. (New)

118.—(1) Upon an order being made for the administration under this Part of the deceased's estate, his property shall vest in the Official Assignee for realisation and distribution.

• (2) Section 46 (which relates to a certificate of vesting) shall apply to property which vests in the Official Assignee under this section.

119. Priority of funeral and testamentary expenses. (New)

119.—In the administration under this Part of the deceased's estate, the proper funeral and testamentary expenses incurred shall, notwithstanding anything to the contrary in this or any other enactment, be payable in full in priority to all other payments.

120. Application of Act. (New)

120.—The provisions of this Act shall, so far as they are applicable and with appropriate modifications, apply in the case of an order for administration under this Part as they apply in the case of an order of adjudication except that sections 50, 57, 58 and 59 shall not apply.

121. Surplus. (New)

121.—(1) Where, on the administration under this Part of the deceased's estate, any property remains vested in, or in the possession or control of the Official Assignee after providing for the expenses, fees and costs, together with the debts and liabilities and interest at the rate currently payable on judgment debts, the Court shall order the property to be paid or delivered to or vested in the personal representative of the deceased or, if there is no personal representative, in such manner as the Court may direct.

• (2) The order shall for all purposes be deemed to be a conveyance, assignment or transfer of property and, where appropriate, may be registered accordingly.

122. Right of retainer restricted. (cf. 27/1965, s. 46)

122.—Where an order is made for administration under this Part, the right of retainer of a personal representative shall not be exercisable but he may prove any debt due to him which would otherwise be provable.

PART VII Offences

123. Punishment of fraudulent debtors. (1872, c. 57, s. 11; 33/1963, s. 293)

123.—(1) Subject to subsection (2), if a bankrupt or arranging debtor—

• (a) fails to disclose to the Court, or to the Official Assignee or to such person or persons as the Court from time to time directs, all his property and how and to whom and for what consideration and when he disposed of any part thereof, except such part as has been disposed of in the ordinary way of his trade (if any) or laid out in the ordinary expense of his family, or

• (b) fails to deliver up to the Official Assignee, or as he or the Court directs, all such part of his property as is in his possession or under his control, and which he is required by law to deliver up, or

• F101[(c) fails to deliver up to the Official Assignee, or as he or the Court directs, all books, papers and records (including copies of such books, papers and records held in electronic form) in his possession or under his control relating to his estate and which he is required by law to deliver up, or]

• (d) conceals any part of his property to the value of F102[€650] or upwards, or conceals any debt due to or from him, or

• (e) fraudulently removes any part of his property to the value of F102[€650] or upwards, or

• (f) fails to file or deliver a statement of affairs as required by section 19(c) or makes any material omission in any statement relating to his affairs, or

• (g) knowing or believing that a false debt has been proved by any person under the bankruptcy or arrangement, fails for the period of a month to inform the Official Assignee thereof, or

• F101[(h) prevents the production of any book, paper or record (including copies of any book, paper or record held in electronic form) affecting or relating to his estate, or]

• F101[(i) conceals, destroys, mutilates or falsifies or is privy to the concealment, destruction, mutilation or falsification of any book, paper or record (including any such book, paper or record held in electronic form) affecting or relating to his estate, or]

• F101[(j) makes or is privy to the making of any false entry in any book, paper or record (including any such book, paper or record held in electronic form) affecting or relating to the estate, or]

• (k) fraudulently parts with, alters or makes any omission in, or is privy to the fraudulent parting with, altering or making any omission in, any document affecting or relating to his estate, or

• (l) attempts to account for any part of his property by fictitious losses or expenses, or

• (m) obtains, by any fraud or false representation, any property on credit, or

• (n) obtains, under the false pretence of carrying on business and, if a trader, of dealing in the ordinary way of his trade, any property on credit, or

• (o) pawns, pledges or disposes of any property which he has obtained on credit, unless, in the case of a trader, such pawning, pledging or disposing is in the ordinary way of his trade, or

• (p) is guilty of any fraud or false representation for the purpose of obtaining the consent of his creditors or any of them to an agreement with reference to his affairs or the bankruptcy or arrangement;

he shall be guilty of an offence.

• (2) It shall be a good defence to a charge under any of paragraphs (a), (b), (c), (d), (f), (n) and (o) of subsection (1) if the accused proves that he had no intent to defraud and to a charge under any of paragraphs (h), (i) and (j) of that subsection if he proves that he had no intent to conceal the state of his affairs or to defeat the law.

(3)(a) A person (other than a bankrupt or arranging debtor) who, with intent to defraud his creditors, does any of the acts mentioned in paragraphs (e), (i), (j), (k), (l), (m), (n) or (o) of subsection (1), shall be guilty of an offence and for this purpose references in paragraphs (e) or (k) to an act which is fraudulent or is committed fraudulently shall be construed as references to an act done with intent to defraud creditors.

• (b) Where a person referred to in paragraph (a) of this subsection does an act therein specified within F103[3 years] next before he is adjudicated or granted an order for protection, it shall be presumed until the contrary is proved that the act was done with intent to defraud his creditors.

• (4) Where any person pawns, pledges or disposes of any property in circumstances which amount to an offence under paragraph (o) of subsection (1) or under subsection (3), every person who takes in pawn or pledge or otherwise receives the property knowing it to be pawned, pledged or disposed of in such circumstances as aforesaid shall also be guilty of an offence and shall be liable to be punished in the same way as if he had been guilty of an offence under the said paragraph (o) or subsection (3).

124. Absconding debtor. (1872, c. 57, s. 12)

124.—If any person with intent to defraud his creditors leaves the State and takes with him, or attempts or makes preparation to leave the State and take with him, any part of his property to the amount of F104[€650] or upwards, he shall be guilty of an offence.

125. Corrupt agreement with creditors. (cf. 1857, s. 150 in pt.; 1872, s. 76)

125.—If any creditor of a bankrupt or an arranging debtor obtains or accepts any property from the bankrupt or arranging debtor or any other person as an inducement for forbearing to oppose or for accepting any offer of composition or proposal or any modification thereof made by or on behalf of the bankrupt or arranging debtor, the claim of the creditor shall be void and irrecoverable and the creditor and such other person (if any) shall each be guilty of an offence.

126. False claim. (1872, c. 57, s. 14)

126.—If any creditor, or any person claiming to be a creditor, in any bankruptcy or arrangement with intent to defraud makes any false claim or any proof, declaration or statement of account which is untrue in any material particular, he shall be guilty of an offence.

127. Non-disclosure of after-acquired property. (New)

127.—A bankrupt who fails to disclose to the Official Assignee any after-acquired property shall be guilty of an offence.

128. Obstructing officers. (cf. 1857, s. 389)

128.—Any person who knowingly and wilfully resists, hinders or obstructs the Bankruptcy Inspector or any of his assistants or any other person in the execution of his duties under this Act shall be guilty of an offence.

129. Obtaining credit or trading under other name. (New)

129.—A bankrupt or an arranging debtor who—

• (a) either alone or jointly with any other person obtains credit to the extent of F105[€650] or upwards from any person without informing that person that he is a bankrupt or an arranging debtor, or

• (b) engages in any trade or business under a name other than that under which he was adjudicated bankrupt or granted protection without disclosing to all persons with whom he enters into any business transactions the name under which he was so adjudicated or granted protection,

shall be guilty of an offence.

130. F106[Arranging publication of notice without authority

130. A person who—

• (a) arranges for or causes the publication of a notice under this Act—

• (i) in the Iris Oifigiúil,

• (ii) in a newspaper, or

• (iii) on the website of the Insolvency Service of Ireland,

without authority under this Act, or

• (b) arranges or causes the publication of such a notice, knowing that the contents of such notice are false in a material respect,

shall be guilty of an offence.]

131. Criminal liability after annulment. (New)

131.—Where a bankrupt or arranging debtor has been guilty of any offence, he shall not be exempt from being proceeded against for the offence by reason that his bankruptcy has been discharged or annulled or that his proposal has been carried into effect.

132. Punishment of offences. (New)

132.—(1) Every person guilty of an offence under this Act shall be liable—

• (a) on summary conviction, to a fine not exceeding £500 or, at the discretion of the Court, to imprisonment for a term not exceeding twelve months or to both the fine and the imprisonment, or

• (b) on conviction on indictment, to a fine not exceeding £1,000 or, at the discretion of the Court, to imprisonment for a term not exceeding five years or to both the fine and the imprisonment.

• (2) Section 13 of the Criminal Procedure Act, 1967, shall apply in relation to an offence under this Act as if, in lieu of the penalties provided for in subsection (3) of the said section, there were specified therein the penalties provided for in subsection (1) (a) of this section, and the reference in subsection (2) (a) of the said section 13 to the penalties provided for in the said subsection (3) shall be construed and have effect accordingly.

PART VIII Miscellaneous

133. Limitation of actions. (New)

133.—The Official Assignee shall not be a trustee for the purposes of the Statute of Limitations, 1957.

134. Proceedings in private. (cf. 1857, s. 354 in pt.)

134.—The Court may direct that the whole or any part of any sitting of the Court or proceeding in any matter under this Act shall be in private.

135. Power of Court to review its orders. (cf. 1872, s. 6; 1897, ss. 3, 4)

135.—The Court may review, rescind or vary an order made by it in the course of a bankruptcy matter other than an order of discharge or annulment.

136. Effect of adjudication on creditors' remedies. (cf. 1857, s. 262; 1872, s. 68 in pt.)

136.—(1) On the making of an order of adjudication, a creditor to whom the bankrupt is indebted for any debt provable in bankruptcy shall not have any remedy against the property or person of the bankrupt in respect of the debt apart from his rights under this Act, and he shall not commence any proceedings in respect of such debt unless with the leave of the Court and on such terms as the Court may impose.

• (2) This section shall not affect the power of a secured creditor to realise or otherwise deal with his security in the same manner as he would have been entitled to realise or deal with it if this section had not been enacted.

137. Power to stay or restrain proceedings against bankrupt. (New: cf. 33/1963, s. 217)

137.—(1) The Official Assignee may—

• (a) where any proceedings against the bankrupt are pending in the High Court or on appeal in the Supreme Court, apply to the court in which the proceedings are pending for a stay of proceedings therein, and

• (b) where any other proceedings are pending against the bankrupt, apply to the High Court to restrain further proceedings therein,

and the court to which the application is made may grant the application on such terms and for such period as it thinks fit.

(cf. 1857, s. 262 in pt.)

• (2) Where any proceedings against a bankrupt are stayed or restrained in pursuance of subsection (1), the following provisions shall have effect:

• (a) the creditor shall not be liable for any costs incurred by the bankrupt or the Official Assignee in such proceedings;

• (b) if the proceedings have been instituted against the bankrupt jointly with any other person, the proceedings against that other person shall not thereby be affected.

138. Winding up of partnerships and deceased persons' estates. (New)

138.—(1) The Court may, upon giving notice to such persons as it may direct, make such orders and give such directions as it thinks proper for winding up and settling the affairs of any partnership or the estate of a deceased person in which the bankrupt has an interest.

• (2) All consequential accounts and enquiries shall be taken and made in such office of the Court as the Court may direct.

139. Prohibition on distress after adjudication or protection. (New)

139.—No distress shall be levied on the goods of a bankrupt or an arranging debtor after the date of the adjudication or order for protection.

140. Evidence of deceased person. (1857, s. 365)

140.—In the case of the death of any witness who has made a deposition in any proceeding under this Act the deposition, purporting to be sealed with the seal of the Court, or a copy thereof purporting to be so sealed, shall be evidence of the matters therein deposed to.

140A. F107[Registration of judgments given in insolvency proceedings.

140A.— (1) Without prejudice to Article 16(1) of the Insolvency Regulation, a liquidator who intends —

• (a) to request under Article 21 of the Regulation that notice of the judgment opening the insolvency proceedings concerned and, where appropriate, the decision appointing him or her be published in the State, or

• (b) to take any other action in the State under the Regulation,

shall deliver to the Official Assignee, for registration in a register to be kept for that purpose, a duly certified copy of the judgment and, where appropriate, of the decision appointing the liquidator.

• F108[(1A) The register referred to in subsection (1) may be kept in electronic format.]

• (2) Registration under subsection (1) may also be effected by the Official Assignee on application by a liquidator who does not intend to take any action in the State under the Insolvency Regulation.

(3)The certified copy or copies mentioned in subsection (1) shall be accompanied by -

• (a) if the judgment or decision is not expressed in Irish or English, a translation, certified to be correct by a person competent to do so, into either of those languages,

• (b) the prescribed form, and

• F109[(c) any fee prescribed for that purpose by the Insolvency Service of Ireland.]

• (4) The Official Assignee shall issue to the liquidator a certified copy of the entry in the register.

• F109[(5) The register shall be open to public inspection on payment of such fee (if any) as may be prescribed for that purpose by the Insolvency Service of Ireland.]

• (6) A copy of an entry in the register shall be supplied, on request, by the Official Assignee.

• (7) In any proceedings a document purporting to be—

• (a) a duly certified copy of a judgment opening insolvency proceedings or a decision appointing a liquidator in such proceedings, or

• (b) a translation of such a document which is certified as correct by a person competent to do so,

shall, without further proof, be admissible as evidence of the judgment, the liquidator's appointment or the translation, unless the contrary is shown.]

140B. F110[Publication in relation to insolvency proceedings.

140B.— (1) In this section ‘publication’ means publication of—

• (a) notice of the judgment opening the insolvency proceedings concerned,

• (b) where appropriate, the decision appointing the liquidator,

• (c) the name and business address of the liquidator, and

• (d) the provision (either paragraph 1 or paragraph 2) of Article 3 of the Insolvency Regulation giving jurisdiction to open the proceedings,

F111[in the prescribed manner—

• (i) in the Iris Oifigiúil, and

• (ii) in either—

• (I) at least one daily newspaper circulating in the State, or

• (II) on the website of the Insolvency Service of Ireland.]

• (2) Without prejudice to section 140A(1), publication shall be effected by the liquidator concerned.

• (3) Where the debtor has an establishment (within the meaning of Article 2(h) of the Insolvency Regulation) in the State, the liquidator or any authority mentioned in Article 21(2) of the Regulation shall ensure that publication takes place as soon as practicable after the opening of the insolvency proceedings.]

140C. F112[Provision of certain documents to Official Assignee.

140C.— Where—

• (a) a debtor is adjudicated bankrupt,

• (b) the Court approves of a proposal for vesting the property of a debtor in the Official Assignee under Part IV, or

• (c) an order is made by the Court for the administration under Part VI of a deceased's estate,

the Court shall, on application by the Official Assignee -

• (i) certify that the Official Assignee is the liquidator within the meaning of the Insolvency Regulation, being the person whose function it is to administer or liquidate the assets of the debtor, or deceased debtor, concerned, and

• (ii) arrange for a certified copy of the order made for the purposes of paragraph (a), (b) or (c) to be supplied to the Official Assignee.]

140D. F113[Restriction of right of access to personal data in certain circumstances

140D.— (1) Article 15 (Right of access) of the Data Protection Regulation is restricted to the extent necessary and proportionate to safeguard the effective performance by the Official Assignee of his or her functions under section 61, where the performance of those functions gives rise to the processing of personal data to which the Data Protection Regulation applies.

• (2) In this section, "Data Protection Regulation" means Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016¹⁵ on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation).]

141. F114[Publication of certain notices to be evidence

141.— A notice published pursuant to this Act—

• (a) in the Iris Oifigiúil,

• (b) in a daily newspaper circulating in the State, or

• (c) on the website of the Insolvency Service of Ireland,

shall be evidence of the matters contained in the notice.]

142. Acting in aid of other courts. (1872, s. 71)

142.—(1) The Court and its officers may act in aid of any court in F115[…] the Isle of Man or the Channel Islands, and its officers respectively, at the request of such court, in any bankruptcy matter before such court, and the Court and its officers so acting shall have the like jurisdiction and authority as in the case of a bankruptcy originating under an order of the Court.

• (2)
• (a) The Government may by order apply subsection (1) in relation to any other jurisdiction where the Government are satisfied that reciprocal facilities to that effect will be afforded by that jurisdiction.

• (b) An order under this subsection may be made subject to such conditions, exceptions and qualifications as may be specified in the order.

• (c) The Government may by order amend or revoke an order under this subsection.

• (d) An order under this subsection shall have the force of law in accordance with its terms.

• (e) On the revocation of an order applying subsection (1) in relation to any jurisdiction, that subsection shall cease to apply in relation to that jurisdiction.

• (f) Every order under this subsection shall be published in Iris Oifigiúil as soon as may be.

143. Alteration of monetary limits. (New)

143.—The Minister may by order increase or reduce any of the sums specified in sections 8(1)(a) and (2), 11(1)(a), 15, 39(4), 45(1), 61(3)(h) and (k), 81(1)(b) and (c), 92(2), 95(2), and 101, but such an order shall not affect any case in which a person was adjudicated bankrupt or granted protection before it came into force.

144. F116[Regulations and orders

144.— (1) A regulation under this Act may contain such incidental, supplementary and consequential provisions as the Minister considers necessary or expedient for the purposes of the regulations.

• (2) Every regulation made under this Act and every order made under section 142(2) or 143 shall be laid before each House of the Oireachtas as soon as may be after it is made and, if a resolution annulling the order or regulation is passed by either such House within the next 21 days on which that House has sat after the order or regulation is laid before it, the order or regulation shall be annulled accordingly but without prejudice to the validity of anything previously done thereunder.]

FIRST SCHEDULE Proof of Debts

Section 76.

General

• (New)

• (b) Subparagraph (a) is without prejudice to the entitlement of a creditor to prove his debt at a sitting of the Court.

(1857, s. 246)

F117[11. A person may prove a debt against his or her spouse as if they were not married.]

• (New)

(1872, s. 48)

(cf. 1857, s. 260)

(cf. 1857, s. 252)

(1857, s. 251)

• (2) Section 36 of the Civil Liability Act, 1961 (which provides for the set-off of claims), as amended by section 5 of the Civil Liability (Amendment) Act, 1964, shall apply with the substitution in section 36 (3) of a reference to subparagraph (1) for the reference to section 251 of the Irish Bankrupt and Insolvent Act, 1857.

(1857, s. 246)

• (a) He shall prepare a list certified by him of the claims.

• (b) This list shall record—

• (i) the claims allowed by him, which shall be deemed to be admitted, and

• (ii) the claims either disallowed by him or which he considers should not be admitted without reference to the Court.

• (c) He shall refer disputed debts to the Court for adjudication.

• (d) The decision of the Official Assignee in regard to a claim shall be confirmed in writing to the creditor.

• (e) Any person aggrieved by the decision of the Official Assignee may appeal to the Court.

• (f) The Official Assignee shall place a copy of the list on the Court file.

• (g) The list shall be open to public inspection on payment of a prescribed fee but no fee shall be charged to creditors inspecting the list.

Secured Creditors

(1872, s. 21)

• (2) If a secured creditor does not either realise or surrender his security, he shall, before ranking for dividend, state in his proof the particulars of his security, the date on which it was given and the value at which he assesses it, and he shall be entitled to receive a dividend only in respect of the balance due to him after deducting the value so assessed.

• (3) A secured creditor shall not be entitled to surrender his security after the time fixed by the Official Assignee for receipt of proofs of debt, except by order of the Court.

• (4)
• (a) Where a security is valued by the creditor, the Official Assignee may at any time redeem it on payment to the creditor of the assessed value. If the Official Assignee is dissatisfied with the assessed value he may require that the property comprised in any security so valued be offered for sale at such time and on such terms and conditions as may be agreed upon between him and the creditor or, in default of agreement, as the Court may direct. If the sale be by public auction the creditor, or the Official Assignee on behalf of the estate, may bid or purchase.

• (b) The creditor may, however, at any time by notice in writing require the Official Assignee to elect whether he will or will not exercise his power of redeeming the security or requiring it to be offered for sale, and if the Official Assignee does not, within three months after receiving the notice, signify in writing to the creditor his election to exercise the power, he shall not be entitled to exercise it; and the equity of redemption, or any other interest in the property comprised in the security which is vested in the Official Assignee, shall vest in the creditor and the amount of his debt shall be reduced by the amount at which the security has been valued.

• (5) Where a creditor has valued his security he may at any time amend the valuation and proof on showing to the satisfaction of the Official Assignee, or the Court, that the valuation and proof were made bona fide on a mistaken estimate, but every such amendment shall be made at the cost of the creditor, and upon such terms as the Court shall order, unless the Official Assignee allows the amendment without application to the Court.

• (6) Where a valuation has been amended in accordance with subparagraph (5), the creditor shall forthwith repay any surplus dividend which he may have received in excess of that to which he would have been entitled on the amended valuation or, as the case may be, shall be entitled to be paid, out of any money for the time being available for dividend, any dividend or share of dividend which he has not received by reason of the inaccuracy of the original valuation before that money is made applicable to the payment of any future dividend but he shall not be entitled to disturb the distribution of any dividend declared before the date of the amendment.

• (7) If a creditor having valued his security subsequently realises it, or if it is realised under the provisions of subparagraph (4), the net amount realised shall be substituted for the amount of any valuation previously made by the creditor, and shall be treated in all respects as an amended valuation made by the creditor.

• (8) If it is found at any time that the affidavit made by or on behalf of a secured creditor has omitted to state that he is a secured creditor, such creditor shall surrender his security to the Official Assignee for the general benefit of the creditors unless the Court on application otherwise orders, and the Court may allow the affidavit to be amended upon such terms as to repayment of any dividend or otherwise as the Court may consider just.

• (9) If a secured creditor does not comply with subparagraph (8), he shall be excluded from all share in any dividend.

• (10) Subject to the provisions of subparagraph (4), the creditor shall in no case receive more than F118[one euro in the euro] and interest, where the creditor is entitled to prove for interest.

• (11) Where a mortgagee holds as security a policy of assurance on the life of a bankrupt or an arranging debtor which in the event of the non-payment of premiums provides for their automatic discharge out of moneys payable under the policy, the value of the policy for the purpose of proving in the bankruptcy or arrangement shall be taken to be not less than the value as at the date of adjudication or order for protection; provided that, if the bankrupt or arranging debtor dies before the policy is surrendered, the mortgagee may apply to the Court for the purpose of revaluing his security.

SECOND SCHEDULE Repeals

Section 6.

Session and Chapter or Year and Number	Short Title	Extent of Repeal
20 and 21 Vict. c. 60	Irish Bankrupt and Insolvent Act, 1857	The whole Act
35 and 36 Vict. c. 57	Debtors Act (Ireland), 1872	Sections 11 and 12, and 14 to 22
35 and 36 Vict. c. 58	Bankruptcy (Ireland) Amendment Act, 1872	The whole Act
51 and 52 Vict. c. 44	Local Bankruptcy (Ireland) Act, 1888	The whole Act
52 and 53 Vict. c. 60	Preferential Payments in Bankruptcy (Ireland) Act, 1889	The whole Act
53 and 54 Vict. c. 24	Deeds of Arrangement Amendment Act, 1890	The whole Act
1926, No. 27	Court Officers Act, 1926	Section 12
1937, No. 3	Circuit Court (Registration of Judgments) Act, 1937	Section 3
1946, No. 16	Hire-Purchase Act, 1946	Section 17 (1) so far as it refers to section 313 of the Irish Bankrupt and Insolvent Act, 1857
1947, No. 14	Agricultural Credit Act, 1947	Section 32 (3)
1954, No. 26	Arbitration Act, 1954	In section 11 (1) the words from “and includes” to the end of the subsection.
1961, No. 39	Courts (Supplemental Provisions) Act, 1961	In section 23: subsection (3) and the reference to the Cork Local Bankruptcy Court in subsections (4), (5) and (6)
1963, No. 33	Companies Act, 1963	In section 286 (1), the words “the presentation of a bankruptcy petition on which” Section 345 (8)
1971, No. 24	Central Bank Act, 1971, 1971	Section 28 (2)
1981, No. 11	Courts Act, 1981	Section 26

Footnotes