Report No. 67
Extract of Section 1, Deeds of Arrangements Act, 1914 (English)
1. (1) A deed of arrangement (English) to which this Act applies shall include any instrument of the class hereinafter mentioned whether under seal or not-
(a) made by, for or in respect of the affairs of a debtor for the benefit of his creditors generally;
(b) made by, for or in respect of the affairs of a debtor who was insolvent at the date of the execution of the instrument for the benefit of any three or more of his creditors: otherwise than in pursuance of the law for the time being in force relating to bankruptcy.
(2) The classes of instrument referred to are-
(a) an assignment of property;
(b) a deed of or agreement for a composition; and in cases where creditors of the debtor obtain any control over his property or business-
(c) a deed of inspectorship entered into for the purpose of carrying on or winding up a business;
(d) a letter of licence authorising the debtor or any other person to manage, carry on, realise or dispose of a business with a view to the payment, of debts; and
(e) any agreement or instrument entered into for the purpose of carrying on or winding up the debtor's business, or authorising the debtor or any other person to manage, carry on, realise or dispose of the debtor's business with a view to the payment of his debts.