THE HONGKONG GOVERNMENT GAZETTE, 7TH NOVEMBER, 1891.
(3.) Any Trustee paying money into his private banking accouút or using it otherwise than in the administration of the estate or retaining in his hands for more than a week without the leave of the Court previously obtained a sum exceeding $100 or without explaining such retention to satisfaction of the Court he may without prejudice to any other liability be dismissed from office without remuneration and may be ordered by the Court to pay any expenses to which the creditors may be put in consequence of his dismissal.
61. (1.) The Trustee shall keep a record in writing in which he shall enter a minute of all proceedings had and resolutions passed at any meeting of creditors or of the Committee of Inspection and a statement of all negotiations and proceedings necessary to give a correct view of the management of the bankrupt's property. 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 pay- ments as Trustee,
(2.) 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.
62. (1.) Every Trustee shall at any time the Court may order and not less than once in each year during his tenure of office deposit in the Registry of the Supreme Court an account of his receipts and payments verified by affidavit.
(2.) Such accounts shall be examined and audited by the Registrar or by any person named by the Court or the Court may itself examine them and it shall be the duty of the Trustee to furnish all such vouchers or information as may be necessary for such audit or examination.
(3.) The Court may after hearing the explanation if any of the Trustee make such order as it thinks just for com- pelling the Trustee to make good any loss to the estate which after such audit or examination may appear to the Court to have been occasioned by any misfeasance neglect or improper omission of the Trustee.
63. The fees and percentages to be charged in respect of proceedings under this Ordinance and the remuneration of the Official Receiver and Trustee shall be as mentioned in the Schedule B, provided that such schedule may from time to time be altered by rule of Court,
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64. Where the joint estate of any co-debtors is insuffi- cient to defray any costs or charges properly incurred in respect thereof, the Court, ou the application of the Trustee may order such costs or charges to be paid out of the separate estates of such co-debtors or any one or more of them. The Court may also order any costs or charges properly incurred for any separate estate to be paid out by the joint estate if in the opinion of the Court it shall be just so to do.
Release of Trustee.
65. (1.) When the Trustee has realised all the property of the bankrupt or so much thereof as can in his opinion be realised without needlessly protracting the trusteeship and has distributed a final dividend if any or has ceased to act by reason of a composition having been approved or has resigned or been removed from office he may apply to the Court for his release and if all the requirements of the Court with respect to accounts and with respect to any order of the Court against the Trustee have been fulfilled the Court may make an order for the release accordingly.
(2.) Where the release of the Trustee is withheld, the Court may on the application of any creditor or person iu- terested make such order as it thinks just charging the Trustee with the consequence of any act or default he may have committed or made contrary to his duty.
(8.) An order of the Court releasing the Trustee shall discharge him from all liability in respect of any act done or default made by him in the administration of the affairs of the bankrupt or otherwise in relation to his conduct as Trustee but any such order may be revoked on proof that it was obtained by fraud or by suppression or concealment of any material fact.
(4.) Where the Trustee has not previously resigned or been removed, his release shall operate as a removal of him from his office and thereupon the Official Receiver shall be the Trustee.
Record and book of account to bo kept.
Audit and order therein.
Fees and Percentages, Remuneration,
&c.
Costs where joint estate Insufficient.
Release.
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