Report No. 26
Clauses 65 to 69
General.-These clauses provide for disclaimer of title by the Official Assignee. They follow sections 62 to 66 of the Presidency Act, which are in turn based on section 55 of the (English) Bankruptcy Act, 1883, since replaced by section 54 of the Bankruptcy Act, 1914. There is nothing corresponding to them in the Provincial Act, but it is considered that such provisions should be applicable to the whole of India.
Detailed points.-(i) Power to extend the period for selling has been added, and items to be disclaimed have been mentioned one by one, as in section 535, Companies Act, and section 104, Australian Act1.
(ii) The words "subject always to rules" are replaced2 by "except in any cases which may be prescribed". Compare section 54(3), English Act.
(iii) The word "either" has been placed after "claiming" and not before the word "claiming", for the sake of grammar3.
(iv) Case of the sub-lessee or mortgagee failing to apply has been covered4-5.
(v) Instead of "under-lessee", the word "sub-lessee" is used, following the usage in India6.
(vi) Instead of the word "foregoing", the exact provision has been referred to for precision7.
1. In clause 65(1).
2. In clause 66.
3. In clause 69(1).
4. In clause 69(1), proviso.
5. Cf. Report of Committee on Bankruptcy, etc. Law, (1957) Cmd. 221, para. 134.
6. In clause 69(1), proviso.
7. In clause 69(2).