The Bankruptcy Act 1705 (4 & 5 Ann. c. 4) was an act of the Parliament of England.
Provisions Under the act, the Lord Chancellor was given power to discharge bankrupts, once disclosure of all assets and various procedures had been fulfilled.
Discharge from debt was introduced for those who cooperated with creditors. The discharge took effect once a bankrupt obtained a certificate of the bankruptcy commissioners providing that there has been full disclosure and adherence to their directions.
Subsequent developments The act was continued until the end of the next session of parliament 5 years after 25 April 1709 by section 4 of the Perpetuation, etc. of Acts 1708 (7 Ann. c. 25).
The whole act was repealed by section 1 of, and the schedule to, the Statute Law Revision Act 1867 (30 & 31 Vict. c. 59), which came into force on 15 July 1867.
See also UK insolvency law UK bankruptcy law History of bankruptcy law
Notes
References