58
CAP. 6]
Bankruptcy
[1986 Ed.
Disqualification for appointment as trustee.
Corrupt inducement affecting
appointment as trustee.
Power to appoint joint or
successive
trustees.
1914 c. 59, s. 77.
Proceedings in case of vacancy in office of
trustee.
1914 c. 59, s. 78.
Appointment
79A. No person being an undischarged bankrupt and no body corporate shall be qualified for appointment to the office of trustee, and-
(a) any appointment made in contravention of this section
shall be void; and
(b) where any such person or any body corporate acts as trustee, such person or body corporate shall be liable to a fine of $5,000.
(Added, 47 of 1984, s. 11)
79B. Any person who gives or agrees or offers to give to any creditor of a debtor or bankrupt any valuable consideration with a view to securing his own appointment or nomination, or to securing or preventing the appointment or nomination of some person other than himself, as the trustee shall be liable to a fine of $5,000.
(Added, 47 of 1984, s. 11)
80. (1) The creditors may, if they think fit, appoint more persons than one to the office of trustee and, when more persons than one are appointed, shall declare whether any act required or authorized to be done by the trustee is to be done by all or any one or more of such persons, but all such persons are in this Ordinance included under the term "trustee" and shall be joint tenants of the property of the bankrupt.
(2) The creditors may also appoint persons to act as trustees in succession in the event of one or more of the persons first named declining to accept the office of trustee or failing to give security, or of the appointment of any such person not being approved by the
court.
81. (1) If a vacancy occurs in the office of a trustee the creditors in general meeting may appoint a person to fill the vacancy and thereupon the same proceedings shall be taken as in the case of a first appointment.
(2) The Official Receiver shall, on the requisition of any creditor, summon a meeting for the purpose of filling any such
vacancy,
(3) If the creditors do not within 3 weeks after the occurrence of a vacancy appoint a person to fill the vacancy, the Official Receiver shall report the matter to the court, and the court may appoint a trustee.
(4) During any vacancy in the office of trustee the Official Receiver shall act as trustee.