46
Audit of Trustee's
No. 7]
THE ORDINANCES OF HONGKONG: [A.D. 1891
62.-(1.) The 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 Court an account of his receipts and payments verified by affidavit.
46 & 47 Vict.
c. 52 s. 78.
First Schedule: Form No. 22.
(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.
Fees and percentages and remuneration of Official Receiver and Trustee.
(3.) The Court may, after hearing the explanation, if any, of the Trustee, make such order as it may think just for compelling 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 the Trustee shall be as mentioned in the Second Schedule to this Ordinance: Provided that such Schedule may from time to time be altered by rule of Court.
Second Schedule.
Costs where joint estate insufficient.
Conditions of Trustee's release.
s. 82.
64. Where the joint estate of any co-debtors is insufficient to defray any costs or charges properly incurred in respect thereof, the Court, on 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.
(2.) The Court may also order any costs or charges properly incurred for any separate estate to be paid out of the joint estate, if, in the opinion of the Court, it is just to do so.
Release of Trustee.
65.-(1.) When the Trustee has realized all the property of the bankrupt or so much thereof as can, in his opinion, be realized 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 his release accordingly.
(2.) Where the release of the Trustee is withheld, the Court may, on the application of any creditor or person interested, make such order as it may think just charging the Trustee with the consequence of any act or default which he may have committed or made contrary to his duty.