William III, 1697-8: An Act to repeal the Act made the last Session of Parliament intituled An Act for Relief of Creditors by making Composition with their Debtors in case 2/3 in Number and Value do agree [Chapter XXIX. Rot.Parl. 9 Gul.III.p.5.n.5.]

Recital that 8 & 9 W. III. c.18. hath not answered the End for which it was intended.

Repealed.

Whereas an Act [made (fn. 1) ] in the Second Session of this present Parliament held in the Eighth and Ninth Years of His Majesties Reign intituled An Act for Relief of Creditors by making Compositions with their Debtors in case Two thirds in Number and Value do agree. hath not answered the end for which the same was intended in regard that notwithstanding the Provisions in the said Act for preventing Frauds in the making such Compositions many fraudulent Practices have been committed by making pretended Agreements with Persons who were not real Creditors and for greater Advantages than what were expressed in such Compositions which Practices have (as there is just Cause to fear) occasioned much Perjury For Remedy whereof be it enacted by the Kings most Excellent Majesty by and with the Advice and Consent of the Lords Spiritual and Temporal and the Commons in this present Parliament assembled and by the Authority of the same That from and after the Four and twentieth Day of June in the Yeare of our Lord One thousand six hundred ninety and eight the said Act and every Clause Matter & Thing therein contained shal be repealed determined and of no Force.

II. Proviso for Agreements and Compositions bona fide entered into before 24th June 1698; and for Orders for discharge of Debtors, made in pursuance thereof; and also in respects of Pardons of Penalties and Forfeitures against 8 & 9 W. III.c.18.

Provided nevertheless and be it enacted by the Authority aforesaid That this Act shal not extend or be construed to extend in any wise to prejudice make void or impeach any Agreement or Composition made or which before the [said (fn. 1) ] Twenty fourth Day of June shal be made bona fide and without Fraud and which shal be performed from time to time according to the true Intent and Meaning thereof nor any Order for the Discharge of any Debtor out of Custody made or which shal be made in pursuance of such Agreement and Composition and by virtue of the abovesaid Act or which [is (fn. 1) ] or shal be within the Saving or Benefit thereof before the said Twenty fourth Day of June but that every such Agreement or Composition whereupon any such Order of Discharge is or shal be made as aforesaid shal be good and effectual to all Intents and Purposes and every such Order and Discharge is hereby ratifyed and confirmed And every such Agreement and Composition whereupon no such Order of Discharge is or shal be made as aforesaid shal be and remain of the same Force and Effect (and no other) as if this present Act had not been made nor to pardon indempnifie or discharge any Person who hath incurred or before the said Twenty fourth Day of June shal incurr any Penalty or Forfeiture by committing any Offence against the said Act but that every such Offender shal be liable to the same Forfeitures and Penalties as if the said Act had continued in full Force.

III. Agreements, Releases, and Discharges made; or procured upon false Oath, &c. void

Provided always and be it enacted by the Authority aforesaid That no Person or Persons [that (fn. 2) ] heretofore have been or shal before the said Twenty fourth Day of June be discharged by vertue of this Act shal be deemed or adjudged to be discharged thereby who to procure any Agreement Compositions Releases or Discharges whatsoever from any of [his (fn. 3) ] or their Creditor or Creditors have before any one of the Judges of either Bench Barons of the Exchequer or Master in Chancery Ordinary or Extraordinary willingly and corruptly made or before the said Twenty fourth Day of June shal make any false Oath to the defrauding of his or their Creditor or Creditors but that all and every such Agreement Releases and Discharges upon any false Oath obtained and being thereof convicted upon any Indictment or Information shal be void and of none Effect Any Thing in this or the said former Act contained to the contrary hereof in any wise notwithstanding.