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70. Any creditor who has not proved his debt Right of before the declaration of any dividend or dividends creditor who shall be entitled to be paid out of any money for the has not time being in the hands of the trustee any dividend

proved debt before de- or dividends he may have failed to receive before that claration of money is applied to the payment of any future a dividend. dividend or dividends, but he shall not be entitled to 4 & 5 Geo. 5, disturb the distribution of any dividend declared c. 59 s. 65. before his debt was proved by reason that he has not participated therein."

71.-(1) Where a debt has been proved, and Interest on the debt includes interest, or any pecuniary con- debts. sideration in lieu of interest, such interest

4 & 5 Geo. 5, or con- e. 7. sideration shall, for the purposes of dividend, be s. 66 (1). calculated at a rate not exceeding eight per cent per annum and be calculated only up to the date of the receiving order, without prejudice to the right of a creditor to receive out of the estate any higher rate of interest to which he may be entitled after all the debts proved in the estate have been paid in full.

(2) In dealing with the proof of the debt, the 4 & 5 Geo. 5, following rules shall be observed:-

c. 59, s. 66 (2).

(a) any account settled between the debtor and the creditor within three years preceding the date of the receiving order may be examined, and, if it appears that the settlement of the account forms substantially one transaction with any debt alleged to be due out of the debtor's estate (whether in the form of renewal of a loan or capitalisation of interest or ascertainment of loans or otherwise), the account may be re-opened and the whole transaction treated as one;

(b) any payments made by the debtor to the creditor before the receiving order, whether by way of bonus or otherwise, and any sums received by the creditor before the receiving order from the realisation of any security for the debt, shall, notwithstanding any agree- ment to the contrary, be appropriated to principal and interest in the proportion that the principal bears to the sum payable as interest at the agreed rate;

(c) where the debt due is secured and the security is realised after the receiving order, or the value thereof is assessed in the proof, the amount realised or assessed shall be appropriated to the satisfaction of principal and interest in the proportion that the principal bears to the sum payable us interest at the agreed rate.

72.--(1) When the trustee has realised all the Final property of the bankrupt, or so much thereof as can dividend. be realised without needlessly protracting the trustee- 4 & 5 Geo. 5, ship, he shall declare a final dividend, but before so s. 67 (1).

c. 59, doing he shall give notice in manner prescribed to the persons whose claims to be creditors have been notified to him, but not established to his satisfaction, that if they do not establish their claims to the satisfaction of the court within a time limited by the notice, he will proceed to make a final dividend, without regard to their claims.

(2) After the expiration of the time so limited, 4 & 5 Geo. 5, or, if the court on application by any such claimant c. 59, grants him further time for establishing his claim, s. 67 (2). then on the expiration of such further time, the property of the bankrupt shall be divided among the creditors who have proved their debts, without regard to the claims of any other persons.

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