The Acting Assistant Secretary to the Treasury has forwarded for advice the following memorandum:
I would invite your attention to clause 5 (3) of the Bill for an Act relating to Bankruptcy, which reads:
Except as otherwise expressly provided in this Act, the provisions of this Act relating to the remedies against the property of a debtor, the priorities of debts, the effect of a composition or scheme of arrangement, and the effect of an order of discharge, shall bind the Crown.(1)