SETTLEMENT OF DEBTS LAW

Arrangement of Sections

1. Short title.

2. Law to operate in certain Conciliation Board areas.

3. Applications by creditor to Panel of Conciliators.

4. This Law not to apply to certain claims.

5. Duties of Conciliation Board in dealing with applications.

6. Procedure after settlement or determination by Board.

7. Powers of a Conciliation Board.

8. Application of certain provisions of the Conciliation Boards Act.

9. Bar of civil actions.

10. Regulations

11. This Law to prevail over other law.

12. Interpretation.

27 of 1975,

10 of 1976.

A LAW to provide for the Settlement of certain categories of Debts in Rural Areas, and to provide for all matters connected therewith or incidental thereto.

[Date of Commencement: 17th July, 1975]

1. Short title.

This Law may be cited as the Settlement of Debts.

2. Law to operate in certain Conciliation Board areas.

(1) This Law shall come into operation on such date as the Minister may by Order published in the Gazette appoint, hereinafter in this Law referred to as the "appointed date”.

(2) With effect from the appointed date, this Law shall be operative in every Conciliation Board area other than a Conciliation Board area situated within the administrative limits of any Municipal Council, Urban Council or Town Council.

(3) Subject to the provisions of subsection (2) "Conciliation Board area” has in this Law the same meaning as in subsection (1) of section 3 of the Conciliation Boards Act.

3. Applications by creditor to Panel of Conciliators.

(1) Subject to the provisions of section 4, every creditor to whom any liquidated sum of money is due on a debt incurred or outstanding in whole or part prior to the appointed date shall, within twelve months of such date, make an application in the prescribed form to the Chairman of the Panel of Conciliators of the Conciliation Board area in which the debtor or any of the debtors resides, for settlement or determination of such debt in accordance with the provisions of this Law.

[S 3(1) am by s 2 of Law 10 of 1976.]

(2) For the purposes of this Law, a debt means a debt incurred or outstanding in whole or part prior to the appointment date and includes any debt, whether secured or unsecured, incurred jointly or severally but not jointly end severally, of or by way of a bill of exchange, promissory note, cheque mortgage, conditional transfer of immovable property, shop bill or book debt or otherwise.

(3) In the case of a conditional transfer of immovable property referred to in subsection (2)—

(a) the person to whom the property is transferred, sold or alienated shall be deemed to be the creditor; and

(b) the person who transferred, sold or alienated such property shall be deemed to be the debtor.

(4) Where any debtor—

(a) who was resident in any Conciliation Board area at any time during the year immediately preceding the appointed date ceases to reside in that area in order to defeat the purposes of this Law; or

(b) whose whereabouts being unknown, was last known to reside in any Conciliation Board area at any time during the year preceding the appointed date,

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