Bankruptcy Act 1914 Explained

Short Title:	Bankruptcy Act 1914
Type:	Act
Parliament:	Parliament of the United Kingdom
Long Title:	An Act to consolidate the Law relating to Bankruptcy.
Citation:	4 & 5 Geo. 5. c. 59
Territorial Extent:	England and Wales
Royal Assent:	10 August 1914
Commencement:	1 January 1915
Amendments:	Insolvency Act 1985
Status:	partially_repealed
Original Text:	http://www.legislation.gov.uk/ukpga/1914/59/pdfs/ukpga_19140059_en.pdf

The Bankruptcy Act 1914 (4 & 5 Geo. 5. c. 59) was an Act of the Parliament of the United Kingdom which formed the primary source of UK insolvency law for approximately 70 years.^[1] It came into force on 1 January 1915 repealing a number of earlier statutes. It was substantially repealed by the short-lived Insolvency Act 1985.^[2]

The Act is generally regarded as a consolidation of earlier statutes relating to bankruptcy.

Although the Act is expressed solely with reference to the bankruptcy of individuals, section 317 of the Companies Act 1948 applied many of its provisions to corporate insolvencies.^[3]

Notes and References

1. Book: Principles of Corporate Insolvency Law. Roy Goode. Roy Goode. 3rd. Sweet & Maxwell. 042190450X. 2005. 7.
2. Web site: Insolvency Act 1985, schedule 10 (repeals). 26 June 2017. . The entire statute was repealed except sections 121-123.
3. That section provides: "In the winding up of an insolvent company ... the same rules shall prevail and be observed with regard to the respective rights of secured and unsecured creditors and to, debts provable ... as are in force for the time being under the law of bankruptcy in England with respect to the estates of persons adjudged bankrupt, ..."