Page:United States Statutes at Large Volume 66.djvu/484

 438

PUBLIC LAW 4 5 7 - J U L Y 7, 1952

11 USC c h s. 1-7.

Separability.

30 Stat 544. 11 prec use 1. Effective

date.

[66

STA T.

order confirming the plan, share on a parity with the prior unsecured debts of the same classes, provable in the ensuing bankruptcy proceeding, and for such purpose the prior unsecured debts shall be deemed to be reduced to the amounts respectively provided for them in the plan or in the order confirming the plan, less any payment made thereunder; and "(3) 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 section, apply to the rights, duties, and liabilities of the creditors holding debts incurred by the debtor after the confirmation of the plan and before the date of the final order directing that bankruptcy be proceeded with, and of all persons with respect to the property of the debtor, and, for the purposes of such application, the date of bankruptcy shall be taken to be the date of the entry of the order directing that bankruptcy be proceeded with." SEC. 55. (a) All Acts or parts of Acts inconsistent with any provisions of this amendatory Act are hereby repealed. (b) If any provision of this amendatory Act or the application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or applications of this amendatory Act which can be given effect without the invalid provision or application, and to this end the provisions of this amendatory Act are declared to be severable. SEC. 56. EFFECT OF T H I S AMENDATORY ACT.^—(a) Nothing herein contained shall have the effect to release or extinguish any penalty, forfeiture, or liability incurred under any Act or Acts of which this Act is amendatory. (b) The provisions of this amendatory Act shall govern proceedings so far as practicable and applicable in cases pending when it takes effect; but proceedings in cases then pending to which the provisions of this amendatory Act are not applicable shall be disposed of conformably to the provisions of said Act approved July 1, 1898, and the Acts amendatory thereof and supplementary thereto. SEC. 57. This amendatory Act shall take effect and be in force on and after three months from the date of its approval. Approved July 7, 1952.

Public Law 457

CHAPTER 580

July 7, 1952 [S. 2240]

AN ACT To amend section 40 of the Bankruptcy Act, so as to increase and fix the salary of full-time referees and to authorize increased salaries for part-time referees.

Bankruptcy Act, amendment. 80 Stat. 556. 11 USC 68.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 40a of the Act entitled "An Act to establish a uniform system of bankruptcy throughout the United States", approved July 1, 1898, as amended, is amended to read as follows: " SEC. 40. COMPENSATION OF REFEREE'S SALARY AND EXPENSE FUNDS; RETIREMENT OF REFEREES, a. Referees shall receive as full compensa-

tion for their services salaries to be fixed by the conference, in the light of the recommendations of the councils, made after advising with the district judges of their respective circuits, and of the Director, at rates not more than $12,500 per annum for full-time referees, and not more than $6,000 per annum for part-time referees. In fixing the amount of salary to be paid to a referee, consideration shall be given

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