Acts of bankruptcy

(1) A debtor commits an act of bankruptcy in each of the following cases, (a) if in Belize or elsewhere he makes a conveyance or assignment of his property to a trustee or trustees for the benefit of his creditors generally; (b) if in Belize or elsewhere he makes a fraudulent conveyance, gift, delivery, or transfer of his property or of any part thereof; (c) if in Belize or elsewhere he makes any conveyance or transfer of his property or any part thereof, or creates any charge thereon, which would under this or any other legislation be void as a fraudulent preference if he were adjudged bankrupt; (d) if with intent to defeat or delay his creditors, he does any of the following things, namely, departs out of Belize, or, being out of Belize, remains out of Belize, or departs from his dwelling-house, or otherwise absents himself or begins to keep house; (e) if execution against him has been levied by seizure of his goods under process in an action in any court and the goods have been either sold or held by the bailiff for twenty- one days, 11 Provided that when an interpleader summons has been taken out in regard to the goods seized, the time elapsing, between the date at which such summons is taken out and the date at which the bailiff is ordered to withdraw or any interpleader issue ordered thereon is finally disposed of shall not be taken into account in calculating such period of twenty-one days; (f) if he files in the court a declaration of his inability to pay his debts or presents a bankruptcy petition against himself; (g) if a creditor has obtained a final judgment against him for any amount, and, execution thereon not having been stayed, has served on him in Belize, or by leave of the court elsewhere, a bankruptcy notice under this Act requiring him to pay the judgment debt in accordance with the terms of the judgment or to secure or compound for it to the satisfaction of the creditor or the court, and he does not within fifteen days after service of the notice in case the service is effected in Belize, or in case the service is effected elsewhere, within the time limited in that behalf by the order giving leave to effect the service, either comply with the requirements of the notice, or satisfy the court that he has a counter-claim, set-off or cross demands which equals or exceeds the amount of the judgment debt, and which he could not set up in the action in which the judgment was obtained and any person who is for the time being entitled to enforce a final judgment shall be deemed a creditor who has obtained a final judgment within the meaning of this section; 12 (h) if the debtor gives notice to any of his creditors that he has suspended, or that he is about to suspend, payment of his debts. (2) A bankruptcy notice under this Act shall be in the prescribed form, and shall state the consequences of non- compliance with the notice, and shall be served in the prescribed manner.