409
court for an order that the trustee do make good any loss which the estate of the bankrupt may have sustained by the misfeasance, neglect, or omission.
into
90. No trustee in a bankruptcy or under any Trustee not composition or scheme of arrangement shall pay any to pay sums received by him as trustee into his private private banking account, or use it otherwise than in the account. administration of the estate.
4 & 5 Geo. 5,
c 59, s. 88.
91.-(1) The Official Receiver shall open in his Payment
Ordinance
name as Official Receiver an account at a bank of moneys approved by the Governor, and shall pay to the into bank. credit thereof all sums received by him as such No. 7 of Official Receiver or as trustee, and every trustee in 1891, a bankruptcy, other than the Official Receiver, re-s. 60 (1). ceiving money as such trustee shall open an account at such bank in the name of the debtor's estate, and shall pay to the credit of such account all sums which may from time to time be received by him as such trustee.
(2) If a trustee at any time retains for more than 4 & 5 Geo. 5, ten days a sum exceeding five hundred dollars, or c. 59, such other amount as the court in any particular case s. 89 (5). may authorise him to retain, then, unless he explains the retention to the satisfaction of the court, he shall pay interest on the amount so retained in excess at the rate of twenty per cent per annum, and shall have no claim to remuneration, and may be removed from his office by the court and shall be liable to pay any expenses occasioned by reason of his default.
(3) Any trustee paying money into his private Ordinance banking account or using it otherwise than in the No. 7 of administration of the estate may without prejudice to 1891, any other liability be dismissed from office without s. 60 (3). remuneration and may be ordered by the court to make good all losses and expenses which the credi- tors may suffer in consequence of his conduct.
No. 7 of
92.—(1) The trustee shall keep a record in writing Record and in which he shall enter a minute of all proceedings account to be had and resolutions passed at any meeting of creditors kept by or of the committee of inspection and a statement trustee. of all negotiations and proceedings necessary to give Ordinance a correct view of the management of the bankrupt's 1891, s. 61. property. Such record if in Chinese shall be supple- mented by a correct English translation thereof and shall be produced for inspection to the Official Receiver at any time on demand.
(2) He shall also keep an account, to be called the Estate Account, in the form of an ordinary debtor and creditor account, in which he shall enter from day to day all his receipts and payments as trustee.
(3) The trustee Shall produce at every meeting of creditors and at every meeting of the committee of inspection the record and account above mentioned and also the pass-book of the estate's bank account, and such documents shall be open to the inspection of any creditor at all reasonable times.
accounts.
93.-(1) Every trustee other than the Official Audit of Receiver shall, at such times as may be prescribed, trustee's but not less than once in each year during his tenure 4 & 5 Geo. 5, of office, send to the Official Receiver, an account of c. 59, his receipts and payments as such trustee.
s. 92 (1).
(2) The account shall be in a prescribed form, shall 4 & 5 Geo. 5, be made in duplicate, and shall be verified by a
c. 59, statutory declaration in the prescribed form.
s. 92 (2).
(3) The Official Receiver shall cause the accounts 4 & 5 Geo. 5, so sent to be andited and for tha
LL. 59