Zambia
Preferential Claims in Bankruptcy Act, 1995
Chapter 83
- Published
- Commenced on 28 April 1995
- [This is the version of this document at 31 December 1996.]
1. Short title
This Act may be cited as the Preferential Claims in Bankruptcy Act.2. Priority debts
3. Discharge of debts
Subject to the retention of such sums as may be necessary for the cost of administration or otherwise, the foregoing debts shall be discharged forthwith so far as the property of the debtor is sufficient to meet them.4. Distress for rent
In the event of a landlord or other person distraining or having distrained on any goods or effects of a bankrupt within three months next before the date of the receiving order, the debts to which priority is given by this Act shall be a first charge on the goods or effects so distrained on or the proceeds of the sale thereof:Provided that, in respect of any money paid under any such charge, the landlord or other person shall have the same rights of priority as the person to whom such payment is made.5. Application of Act to a deceased insolvent
This Act shall apply in the case of a deceased person who dies insolvent, whether or not an order has been made in respect of the deceased's estate in terms of the Bankruptcy Act, as if he were a bankrupt and as if the date of his death were substituted for the date of the receiving order;Provided that the proper funeral and testamentary expenses incurred by the legal personal representative of the deceased person in and about that person's estate, together with the costs of the administration of the deceased person's estate, shall have priority over all other debts and shall rank equally between themselves.[Cap. 82]History of this document
31 December 1996 this version
Consolidation
28 April 1995
Commenced