THE LORD CHANCELLOR,in moving the second reading of the Bill, said that it had been introduced by the Lord Advocate in the other House. Its purpose was to consolidate the existing statutes, and to effect certain amendments in the law. One of its objects was that in Scotland the distinction between bankruptcy and insolvency should be done away with, so far as to apply the law of compulsory distribution of the property to any one becoming insolvent, whether he were a trader or not. Another object was to provide what should constitute an act of bankruptcy, and that when a person became bankrupt in England he should thereby also be deemed bankrupt in Scotland. It was at present necessary in Scotland, in order to obtain an adjudication of bankruptcy, to apply to the Court of Session; but a co-ordinate jurisdiction would by this Bill be given to the sheriffs, answering to the District Courts of Bankruptcy in England. The Bill proposed fourthly, that whereas the administration of insolvent estates was now vested in trustees, and liable to some abuses, there should be an officer, called the Accountant in Bankruptcy, like the Official Assignee of the 254 English system, whose business it should be to control and look into the accounts of all insolvents and bankrupts.
§ Bill read 2a (according to Order).