Page:United States Statutes at Large Volume 52.djvu/957

 PUBLIC LAWS-CH. 575-JUNE 22, 1938 When chapter takes effect. 30 Stat. 549; 47 Stat. 1467. 11 U.S .C. §30, 201, 202; Supp. III, § 202. Ante, p. 915. Chapter XII-Real Property Arrange- ments by Persons Other Than Corpora- tions. Construction. the provisions of any arrangement dealing with the assumption, set- tlement, or payment of any such tax. "ARTICLE XIII-WHEN CHAPTER TAKES ErFCT "SEC. 399. (1) On and after the effective date of this amendatory Act, this chapter shall apply to debtors and their creditors, whether their rights, claims, and interests of any nature whatsoever have been acquired or created before or after such date; "(2) a petition may be filed under this chapter in a proceeding in bankruptcy which is pending on the effective date of this amendatory Act; "(3) the provisions of sections 12, 73, and 74, as amended, of the Act entitled 'An Act to establish a uniform system of bankruptcy throughout the United States', approved July 1, 1898, shall continue in full force and effect with respect to proceedings pending under those sections upon the effective date of this amendatory Act; and "(4) sections 395 and 396 of this Act shall apply to compositions and extensions confirmed under sections 12 and 74 before the effective date of this amendatory Act and to compositions and extensions which may be confirmed under sections 12 and 74 on and after such effective date. "CHAPTER XII-REAL PROPERTY ARRANGEMENTS BY PERSONS OTHER THAN CORPORATIONS "ARTICLE I-CONSTRuCTIrON Application. "SEC. 401. The provisions of this chapter shall apply exclusively to proceedings under this chapter. "SEC. 402. The provisions of chapters I to VII, inclusive, of this Act shall, insofar as they are not inconsistent or in conflict with the provisions of this chapter, apply to proceedings under this chapter: Erons.i Provided,however, That subdivision n of section 57 shall not apply in A.4te, p. 867. such proceedings unless an order shall be entered directing that bank- ruptcy be proceeded with pursuant to the provisions of chapters I to VII, inclusive. For the purposes of such application, provisions relating to 'bankrupts' shall be deemed to relate also to 'debtors', and 'bankruptcy proceedings' or 'proceedings in bankruptcy' shall be deemed to include proceedings under this chapter. For the purposes of such application the date of the filing of the petition in bank- ruptcy shall be taken to be the date of the filing of an original petition Po, p .918. under section 422 of this Act, and the date of adjudication shall be taken to be the date of the filing of the petition under section 421 or 422 of this Act. "ARTICLE II-DEFINITIONS Definitions. "SEC. 406. For the purposes of this chapter, unless inconsistent with the context- "Arrangement." "(1) 'arrangement' shall mean any plan which has for its primary purpose the alteration or modification of the rights of creditors or of any class of them, holding debts secured by real property or a chattel real of which the debtor is the legal or equitable owner; "Claims." "(2) 'claims' shall include all claims of whatever character, against a debtor or his property, whether or not such claims are provable Ane, p. 873. under section 63 of this Act and whether secured or unsecured, liqui- dated or unliquidated, fixed or contingent; "Consideiation." "(3) 'consideration' shall include evidences of indebtedness either secured or unsecured, stock and certificates of beneficial interest therein, and certificates of beneficial interest in property; [52 STAT.

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