§ [No. 17.]
§ After Clause 7, insert the following new clause:
§ Advisory committee on bankruptcy and winding up rules
§ '(1) There shall be a committee appointed by the Lord Chancellor to keep under review the rules for the time being in force under—
- (a) section 132 of the Bankruptcy Act 1914 (bankruptcy rules); and
- (b) section 365 of the Companies Act 1948 (winding up rules);
§ (2) The Lord Chancellor shall consult the committee before making any rules under the provisions mentioned in subsection (1) above.
§ (3) Subject to subsection (4) below, the committee shall consist of—
- (a) a judge of the High Court attached to the Chancery Division;
- (b) a circuit judge;
- (c) a registrar in bankruptcy of the High Court;
- (d) a registrar of a county court;
- (e) a practising barrister;
- (f) a practising solicitor; and
- (g) a practising accountant.
§ (4) The Lord Chancellor may appoint as additional members of the committee any persons appearing to him to have qualifications or experience that would be of value to the committee in considering any matter with which it is concerned.'
Lord ORAMI beg to move that this House doth agree with the Commons in their Amendment No. 17. The purpose of this new clause is to establish a committee which will be under a statutory duty to keep the bankruptcy and winding-up rules under review and to make recommendations to the Lord Chancellor as to any changes in the rules which the committee considers to be desirable. In addition, the Lord Chancellor will be obliged to consult the committee before exercising his existing powers to make bankruptcy or winding-up rules. The committee will comprise four members of the judiciary, two members of the legal profession and an accountant, all of whom are to be appointed by the Lord Chancellor, and such additional members as the Lord Chancellor might appoint. My Lords, I beg to move.
§ Moved, That this House doth agree with the Commons in the said Amendment.—(Lord Oram.)
§ On Question, Motion agreed to.