March 31, 1920 (13th Parliament, 4th Session)


An hon. MEMBER:

^fr. JACOBS: Mr. Speaker, this Bill is introduced to amend the Bankruptcy Act in several particulars. Section 1 amends the first two lines of section 20, and provides that a trustee shall deposit in a separate bank account the respective proceeds of each estate which falls into his hands.
Another section provides for the payment of an indemnity to inspectors for the services which they render to the bankrupt estate. Under the present law inspectors are not entitled to any remuneration or indemnity.
Finally, we ask for the striking out of section 97 of the Bankruptcy Act, which declares that any person who maliciously makes a petition in bankruptcy upon another is liable to two years' imprisonment. We objected to this section last session, but it went through as drafted. I may say that the Bankruptcy Act has been carefully studied by the mercantile and financial interests of the Dominion, and the suggestions in orporated in this Bill have been made by the British Export Association of Canada -an institution which has in its membership about three hundred of the largest exporters of merchandise from Great Britain to Canada-at whose request I introduce this Bill.

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