Assam Debt Conciliation (Amendment) Act, 1943

No: 14 Dated: Dec, 15 1943

THE ASSAM DEBT CONCILIATION (AMENDMENT) ACT, 1943

ASSAM ACT XIV OF 1943

    An Act to amend the Assam Debt Conciliation Act, 1936.

    Preamble:- WHEREAS it is expedient to amend the Assam Debt Conciliation Act, 1936, in the manner hereinaftcr appearing ;

    It is hereby enacted as follows :-

1. Short title and extent:- (1) This Act may be called the Assam Debt Conciliation (Amendment) Act, 1943.

(2) It shall have the like extent as the Assam Debt Conciliation Act, 1936, hereinafter referred to as the principal Act.

2. Amendment of section 2 of Assam Act X ol 1936:- In section 2 of the priucipal Act-

(i) For clause (c) the following shall be shall be substituted namely:-

(c)" Creditor" means a person to whom a debt is owing and includes his heirs, executors, administrators and assigns, and it also includes a Co-operalive Society registered under the Coperative Societies' Act (II of 1912).'

(ii) For clause (e) the following shall be substituted, namely:-

(e) "Debtor" means a person who owes a debt and who earns his livelihood mainly by agriculture, and includes his heirs, executors, administrator and assigns.

3. Amendment of section 8 ot Assam Act X of 1936:- In section 8 of the principal Act-

(i) in sub-section (I) between the words "by the debtor" and "Such statement " the following shall bs inserted, namely:-

"and to appear personally or by an authorised agt-nt before the Board on Lhe date fixed for the examination of the statement or settlement of the case" ; and

(ii) in sub-section (2) after the word "Board'' where it first occurs the words "or in respect of which the creditor fails to appear " shall be inserted ; and after the word "discharged " a " comma" shall be substituted for the "colon", and the words "and any property of the debtor in possession of such creditor shall be released within 30 days from the date of passing of such order:" shall be inserted.