Bankruptcy Act · 2021 Revised Edition · Part 3
48. Avoidance of general assignments of book debts unless registered
Official textFrom Attorney General's Chambers, unchanged
Where a person engaged in any trade or business makes an assignment to any other person of his existing or future book debts or any a class thereof and is subsequently adjudicated bankrupt, the assignment shall be void against the trustee as regards any book debts which have not been
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Bankruptcy paid at the commencement of the bankruptcy unless the assignment has been registered with the Registrar in a register to be kept by him for that purpose:
Registrar
"Registrar" means the Registrar of the Supreme Court and includes the Chief Registrar, Deputy Registrar and Assistant Registrar;
Provided that nothing in this section shall have effect so as to render void any assignment of books debts due at the date of the assignment from specified debtors or of debts growing due under specified contracts or any assignment of book debts included in a transfer of a business made in good faith and for value, or in any assignment of assets for the benefit of creditors generally.
For the purposes of this section, "assignment" includes assignment by way of security and other charges on book debts.
Terms defined in s 2
Registrar
Defined · s 2"Registrar" means the Registrar of the Supreme Court and includes the Chief Registrar, Deputy Registrar and Assistant Registrar;
Chapter
Chapter 19), unless he informs the trustee in writing to the contrary, is deemed to be his last known address for the purpose of subsection (3).
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