36 Geo. 3. c. 90. 1796.

An Act for the Relief of Persons equitably and beneficially 'entitled to or interested in the several Stocks and Annuities transferrable at the Bank of England.

Whereas by the laws in being relative to the transfers of stocks and annuities transferrable at the bank of England, all such transfers are required to be entered or registered; and such entries are to be conceived in proper words for that purpose, and to be signed by the parties making such transfers, or (if such party be absent) by his, her, or their attorney thereunto lawfully authorized; and it is also declared, that no other method of assigning or transferring such stock and annuities shall be good or available in law: and whereas the persons equitably and beneficially entitled to or interested in the said stocks and annuities have been and are put to great inconveniences by reason that the trustees and other persons, according to the said laws in being, alone qualified to make transfers and to receive the dividends of such stocks and annuities vested in them in trust, have been and are absent out of the jurisdiction, or not amenable to the process of the high court of chancery or the court of exchequer ; and other cases of like incon- When trustees, venience have arisen: for remedy whereof be it enacted in whose names by the king's most excellent majesty, by and with the standing at the advice and consent of the lords spiritual and temporal, absent out of the jurisdiction and commons in this present parliament assembled, and of the chancery by the authority of the same, that, from and after the pass- or be bankrupts, ing of this act, when and as often as it shall happen that &c. the said all and every the person or persons in whose name ornames cause depending therein, any part or parts of the several stocks and annuities trans- may order the ferrable, or which hereafter shall be made transferrable, at transferred,

stock shall be

bank, shall be

and exchequer,

courts, in any

stock to be

VOL. II.

EE

and the divi

dends paid:

and when all the trustees Cannot be

the bank of England, is, are, or shall be standing as a trus tee or trustees, or the legal personal representative or representatives of any such person or persons being deceased, der the forth shall be absent out of the jurisdiction, or not amenable to transfer stock, the process of the said courts of chancery and exchequer,

found, may or

coming ones to

&c.

or shall be a bankrupt or bankrupts, lunatic or lunatics, shall refuse to transfer the stock or annuities so legaly vested in him, her, or them, or to receive or pay over the dividends of such stock or annuities to the person or persons beneficially entitled thereto, or it shall be uncertain or unknown whether such trustee or trustees, representative or representatives, is or are living or dead; that then and in all and every such case and cases it shall and may be lawful to and for the said courts of chancery and exchequer respectively, in any cause depending in the said courts respectively, to order and direct that the accountant general, or the secretary or deputy secretary, for the time being, of the governor and company of the bank of England, do transfer, in the book or books of the said company, such stock or annuities as aforesaid, either to and into the name of the accountant general of the said court of chancery, or of the deputy remembrancer of the said court of exchequer, in trust, in such cause, or otherwise, to and into the name or names of the person or persons equitably or beneficially entitled to such stock or annuities as the cases may respectively require, and as to the said courts of chancery and exchequer shall in their discretion seem fit; and also to order and direct that the said accountant general, secretary or deputy secretary, for the time being, of the governor and company of the bank of England, do also receive and pay over the dividends of such stock and annuities as the said courts shall direct; and when and as often as it shall happen that one or more only, and not all or both of such trustees or personal representatives as aforesaid, shall be absent or not amenable to such process

as aforesaid, or a bankrupt or bankrupts, lunatic or lunatics, or shall so refuse as aforesaid, or it be uncertain or unknown whether any one or more of such trustees or representatives is or are living or dead, that then and in all and every such last-mentioned case and cases it shall and may be lawful to and for the said courts of chancery and exchequer respectively, to order and direct that the other and others of such trustees and representatives, who shall be forthcoming and ready and qualified to act, do transfer such stock or annuities to and into the name or names of such person or persons as aforesaid, as the cases may respectively require, and as to the said courts shall in their discretion seem fit, and also that such forthcoming trustee or trustees, representative or representatives, do also receive and pay over the dividends of such stock or annuities as the said courts shall direct; and that all such transfers and payments so made in pursuance of this act, shall be and are hereby declared to be valid and effectual to all intents and purposes whatsoever; any former statute, law, custom, or usage to the contrary thereof in any wise notwithstanding:

refuse to tra (19

order it to be

transferred to

the assignees.

II. And whereas it hath frequently happened that com- If bankrupts missions of bankrupt have issued against persons having fer stock standcertain parts of the said stocks or annuities transferrable at ingin their own the bank of England, standing in their names in their own chancellor may fight, and such persons have thereupon been declared and adjudged bankrupts, but have nevertheless refused to transfer or join in transferring such stock or annuities; for remedy whereof be it enacted by the authority aforesaid, that from and after the passing of this act, when and as often as any person or persons shall be declared or adjudged bankrupt, having any part or parts of the stocks or annuities transferrable, or which hereafter shall be made transferrable at the bank of England, standing in his, her, or their name or names, in his, her, or their own right, it

Act to be an in

bank.

shall and may be lawful to and for the lord chancellor, Iord keeper, or commissioner for the custody of the great seal of Great Britain for the time being, on the petition of the assignee or assignees chosen under the said commission, to order the said accountant general, secretary, or deputy secretary, for the time being, of the governor and company of the bank of England, to transfer the said stock or annuities so standing in the name or names of the said bankrupt or bankrupts, in his, her, or their own right, to and into the name or names of the said assignee or assignees, and also to receive and pay over the dividends of such stock and annuities as the said lord chancellor, lord keeper, or commissioners for the custody of the great seal of Great Britain shall direct; and that all such transfers and payment shall be valid and effectual to all intents and purposes whatsoever; any former statute, law, custom, or usage to the contrary thereof in any wise notwithstanding.

IV. And be it enacted by the authority aforeaid, that demnity to the this present act shall be and is hereby declared to be a full and complete indemnity and discharge to the said governor and company of the bank of England, their officers and servants, for all things done, or permitted to be done pursuant thereto, and that the same shall not be questioned or impeached in any court of law or equity whatsoever, to their prejudice or detriment; and that this present act shall be, and is hereby declared to be, and to be reputed and taken as a public act, to all intents and purposes whatsoever.

GENERAL ORDER, 22d MARCH, 1796.

Lord Chancellor.

made to stay

be drawn up,

inthree months.

Whereas a practice hath lately obtained of presenting Order repetitions against bankrupts' certificates lying for allow-quiring orders ance in my secretary of bankrupts' office, and afterwards certificates to neglecting to draw up the orders made on the hearing of and taken away such petitions, or in any manner proceed therein, whereby the allowance and confirmation of bankrupts' certificates are unnecessarily delayed; for the better regulation against it, it is ordered, that in future if any solicitor shall refuse or neglect to draw up and take away from the office the order made upon the hearing of any petition presented against the allowance of a bankrupt's certificate within three months from the time such order is made, then that such bankrupt's certificate should be laid before me for my allowance and confirmation, any order pronounced for staying the same notwithstanding. Loughborough, C.

GENERAL ORDER, 12th APRIL, 1796.

Lord Chancellor.

support of pe

It is ordered, that all affidavits to be made in support Affidavits in of petitions presented against the allowance and con- titions against firmation of bankrupts' certificates be filed in the office of certificates. my secretary of bankrupts at the time such petitions are left at the office against the allowance of bankrupts' certificates as aforesaid; and that no petition be received against the allowance of any bankrupt's certificate, unless the affidavits in support of such petition be filed in the said office at the time such petitions are so left; and in default thereof that such certificates be then forthwith allowed and confirmed. Loughborough, C.

See a proper exception to this order in the General Order, 1805. post, 427.