413
[To come in on
3
5
& The employment
of Official Receivers
a clash in the
Regaining of the Cust... to keep his accounts appears to be
womited
by
un:
the
law and I should
be informed on what
England wh... authority it has
been done.
*
be as it is in this country and in the
Straits Settlements, I enclose a copy
of the Straits Settlements-
70.
Under the Bankruptcy Ordinance
1891 the unclaimed proceeds of Bankrupt estates are paid into a "Bankruptcy Estates Account", and monies which are on this account unclaimed for 5 years lapse to the Treasury, but there is no express provision for the investment of such funds, although section 80 of the Ordinance, as amended by Ordinance 6 of 1892, appears to leave it open to the Registrar to invest them if he thinks fit.
Again under S.60 of the Ordinance, as amended by Ordinance of 1892, when the Official Receiver is Trustee the current monies of Bankrupt Estates are paid into a Bank, one account being kept for all such estates but separate accounts of all other estates. There is however no provision for the investment of any portion of the funds.
On the other hand in this Country and the Straits Settlements, all moneys whatever received on account of bankrupt estates are immediately paid into a single Bankruptcy Estates Account
}}
413
[To come in on
3
5
& The employment
the Official Ruciors
a
clash in the
Regising of the Cust to keep his amounts appears th
womited
by
un:
the
low and I Bould
on what
ngland wh... informed authority it has
hea dine.
*
be as it is in this country and in the
Straits Settlements, Lenelose a copy
of the Straits Settlemente-
70.
Under the Bankruptcy Ordinance
1891 the unclaimed proceeds of Bank-
rupt estates are paid into a "Bank- ruptcy Estates Account", and monies which are on this account unclaimed for 5 years lapse to the Treasury, but there is no express provision for the investment of such funds, although- section 80 of the Ordinance, as amended by Ordinance 6 of 1892, appears to leave it open to the Registrar to invest them if he thinks-fitr
Again under $.60 of the Ordinance, as amended by Ordinance of 1892, when the Official Receiver is Trustee the current monies of Bankrupt Estates are paid into a Bank, one account being kept for all such estates but separate accounts of all other estates. There is however no provision for the in- vestment of any portion of the funds.
On the other hand in this Country and the Straits Settlements, all moneys whatever received on account of
bankrupt estates are immediately paid into a single Bankruptcy Estates
Account
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