Bankruptcy Act, 1988

Priority of judgment mortgage.

(1857, s. 331)

51.—(1) A judgment creditor who registers an affidavit of his judgment in accordance with sections 6 and 7 of the Judgment Mortgage (Ireland) Act, 1850, shall not, by reason of such registration, be entitled to any priority or preference over simple contract creditors in the event of the person against whom such affidavit is registered being adjudicated bankrupt, unless the affidavit is registered at least three months before the date of the adjudication.

(2) The reference in section 284 (2) of the Companies Act, 1963 , to section 331 of the Irish Bankrupt and Insolvent Act, 1857 (repealed by this Act) shall be construed as a reference to subsection (1) and accordingly the reference in the said section 284 (2) to the filing of the petition shall be read as a reference to the date of the adjudication.