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Bankruptcy Act 1869
The Bankruptcy Act 1869 (32 & 33 Vict c 71) was an Act of the Parliament of the United Kingdom. Section 32 established the first statutory regime for preferential debts in bankruptcy, between local rates, taxes, wages and salaries of clerks, servants, labourers and workers. See also *Bankruptcy in the United Kingdom *History of bankruptcy law *United Kingdom insolvency law United Kingdom insolvency law regulates companies in the United Kingdom which are unable to repay their debts. While Bankruptcy in the United Kingdom, UK bankruptcy law concerns the rules for natural persons, the term insolvency is generally us ... References {{reflist *C W Lovesy. The Bankruptcy Act, 1869, The Debtors Act, 1869, The Bankruptcy Repeal and Insolvent Court Act, 1869. Knight & Company. Fleet Street, London. 1870Google Books*Henry Philip Roche and William Hazlitt. The Law and Practice in Bankruptcy: Comprising the Bankruptcy Act, 1869; the Debtors Act, 1869; the Insolvent Debtors and Bankr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Short Title
In certain jurisdictions, including the United Kingdom and other Westminster-influenced jurisdictions (such as Canada or Australia), as well as the United States and the Philippines, primary legislation has both a short title and a long title. The long title (properly, the title in some jurisdictions) is the formal title appearing at the head of a statute (such as an act of Parliament or of Congress) or other legislative instrument. The long title is intended to provide a summarised description of the purpose or scope of the instrument. Like other descriptive components of an act (such as the preamble, section headings, side notes, and short title), the long title seldom affects the operative provisions of an act, except where the operative provisions are unclear or ambiguous and the long title provides a clear statement of the legislature's intention. The short title is the formal name by which legislation may by law be cited. It contrasts with the long title which, while usual ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interpretation Act 1978
The Interpretation Act 1978 is an Act of the Parliament of the United Kingdom. The Act makes provision for the interpretation of Acts of Parliament, Measures of the General Synod of the Church of England, Measures of the Church Assembly, subordinate legislation, "deeds and other instruments and documents," Acts of the Scottish Parliament and instruments made thereunder (added 1998), and Measures and Acts of the National Assembly for Wales and instruments made thereunder. The Act makes provision in relation to: the construction of certain words and phrases, words of enactment, amendment or repeal of Acts in the Session they were passed, judicial notice, commencement, statutory powers and duties, the effect of repeals, and duplicated offences. The Act repealed the whole of the Interpretation Act 1889, except for sections 13(4) and 13(5) and 13(14) in their application to Northern Ireland. The Interpretation Act (Northern Ireland) 1954 applies in the same way to Acts of the Par ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy Act 1883
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have, and the term ''bankruptcy'' is therefore not a synonym for insolvency. Etymology The word ''bankruptcy'' is derived from Italian ''banca rotta'', literally meaning "broken bank". The term is often described as having originated in renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment so that the public could see that the banker, the owner of the bench, was no longer in a condition to continue his business, although some dismiss this as a false etymology. History In Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Act Of Parliament (UK)
In the United Kingdom an act of Parliament is primary legislation passed by the Parliament of the United Kingdom. An act of Parliament can be enforced in all four of the UK constituent countries (England, Scotland, Wales and Northern Ireland); however as a result of devolution the majority of acts that are now passed by Parliament apply either to England and Wales only, or England only; whilst generally acts only relating to constitutional and reserved matters now apply to the whole of the United Kingdom. A draft piece of legislation is called a bill; when this is passed by Parliament and given Royal Assent, it becomes an act and part of statute law. Classification of legislation Acts of Parliament are classified as either "public general acts" or "local and personal acts" (also known as "private acts"). Bills are also classified as "public", "private", or "hybrid". Public general acts Public general acts form the largest category of legislation, in principle affe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of The United Kingdom
The Parliament of the United Kingdom is the supreme legislative body of the United Kingdom, the Crown Dependencies and the British Overseas Territories. It meets at the Palace of Westminster, London. It alone possesses legislative supremacy and thereby ultimate power over all other political bodies in the UK and the overseas territories. Parliament is bicameral but has three parts, consisting of the sovereign ( King-in-Parliament), the House of Lords, and the House of Commons (the primary chamber). In theory, power is officially vested in the King-in-Parliament. However, the Crown normally acts on the advice of the prime minister, and the powers of the House of Lords are limited to only delaying legislation; thus power is ''de facto'' vested in the House of Commons. The House of Commons is an elected chamber with elections to 650 single-member constituencies held at least every five years under the first-past-the-post system. By constitutional convention, all governme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy In The United Kingdom
Bankruptcy in the United Kingdom is divided into separate local regimes for England and Wales, for Northern Ireland, and for Scotland. There is also a UK insolvency law which applies across the United Kingdom, since bankruptcy refers only to insolvency of individuals and partnerships. Other procedures, for example administration and liquidation, apply to insolvent companies. However, the term 'bankruptcy' is often used when referring to insolvent companies in the general media. Bankruptcy in England and Wales In England and Wales, bankruptcy is governed by Part IX of the Insolvency Act 1986 (as amended) and by the Insolvency Rules 1986 (as amended). The term bankruptcy applies only to individuals, not to companies or other legal entities. An individual may be made bankrupt only by court order following the presentation of a bankruptcy petition. An individual may present his own petition on the ground that he is insolvent, i.e. unable to pay his debts. A creditor or creditors may ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of Bankruptcy Law
The history of bankruptcy law begins with the first legal remedies available for recovery of debts. Bankruptcy is the legal status of a legal person unable to repay debts. Ancient world In Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into "debt slavery", until the creditor recouped losses via their physical labour. Many city-states in ancient Greece limited debt slavery to a period of five years and debt slaves had protection of life and limb, which regular slaves did not enjoy. However, servants of the debtor could be retained beyond that deadline by the creditor and were often forced to serve their new lord for a lifetime, usually under significantly harsher conditions. In Judaism and the Torah, or Old Testament, every seventh year is decreed by Mosaic Law as a Sabbatical year wherein the release of all debts that are owed by members of the Jewish community is mandated, but not of " gentiles" ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Insolvency Law
United Kingdom insolvency law regulates companies in the United Kingdom which are unable to repay their debts. While Bankruptcy in the United Kingdom, UK bankruptcy law concerns the rules for natural persons, the term insolvency is generally used for companies formed under the Companies Act 2006. "Insolvency" means being unable to pay debts. Since the Cork Report of 1982, the modern policy of UK insolvency law has been to attempt to rescue a company that is in difficulty, to minimise losses and fairly distribute the burdens between the community, employees, creditors and other stakeholders that result from enterprise failure. If a company cannot be saved it is "liquidated", so that the assets are sold off to repay creditors according to their priority. The main sources of law include the Insolvency Act 1986, the Insolvency Rules 1986 (replaced in England and Wales from 6 April 2017 by the Insolvency Rules (England and Wales) 2016 – see below), the Company Directors Disqualifica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insolvency Law Of The United Kingdom
In accounting, insolvency is the state of being unable to pay the debts, by a person or company (debtor), at maturity; those in a state of insolvency are said to be ''insolvent''. There are two forms: cash-flow insolvency and balance-sheet insolvency. Cash-flow insolvency is when a person or company has enough assets to pay what is owed, but does not have the appropriate form of payment. For example, a person may own a large house and a valuable car, but not have enough liquid assets to pay a debt when it falls due. Cash-flow insolvency can usually be resolved by negotiation. For example, the bill collector may wait until the car is sold and the debtor agrees to pay a penalty. Balance-sheet insolvency is when a person or company does not have enough assets to pay all of their debts. The person or company might enter bankruptcy, but not necessarily. Once a loss is accepted by all parties, negotiation is often able to resolve the situation without bankruptcy. A company that i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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