182783-1931-Supplementary-Draft-Bill--Bankruptcy — Page 45

Allowance

and taxation of costs.

4 & 5 Geo. 5,

c. 59, s. 83 (1)

4 & 5 Geo. 5,

c. 59,

s. 83 (2).

4 & 5 Geo. 5, c. 59, s. 83 (3).

4 & 5 Geo. 5, c. 59, s. 83 (4).

Trustee to furnish list

of creditors. 4 & 5 Geo. 5, c. 59, s. 84.

Trustee to

furnish state-

ment of accounts.

4 & 5 Geo. 5,

c. 59, s. 85.

Annual

statement of proceedings. 4 & 5 Geo. 5, c. 59, s. 87 (1).

4 & 5 Geo. 5, c 59,

s. 87 (2).

468

86.-(1) Where a trustee or manager receives re- muneration for his services as such, no payment shall be allowed in his accounts in respect of the peform- ance by any other person of the ordinary duties which are required by Ordinance or rules to be per- formed by himself.

(2) Where the trustee is a solicitor, he may contract that the remuneration for his services as trustee shall include all professional services.

(3) All bills and charges of solicitors, managers, accountants, auctioneers, brokers, and other persons, not being trustees, shall be taxed by the Registrar, and no payments in respect thereof shall be allowed in the trustee's accounts without proof of such taxa- tion having been made. The Registrar shall satisfy himself before passing such bills and charges that the employment of such solicitors and other persons, in respect of the particular matters out of which such charges arise, has been duly sanctioned. The sanc- tion must be obtained before the employment, except in cases of urgency, and in such cases it must be shown that no undue delay tock place in obtaining the sanction.

(4) Every such person shall, on request by the trustee (which request the trustee shall make a suffi- cient time before declaring a dividend), deliver his bill of costs or charges to the registrar for taxation, and, if he fails to do so within seven days after receipt of the request, or such further time as the court, on application, may grant, the trustee shall declare and distribute the dividend without regard to any claim by him, and thereupon any such claim shall be for- feited as well against the trustee personally as against the estate.

Receipts, Payments, Accounts, Audit.

87. The trustee or Official Receiver shall, when- ever required by any creditor so to do, furnish and transmit to him by post a list of the creditors show- ing the amount of the debt due to each creditor, and shall be entitled to charge for such list the sum of twenty-five cents per folio of seventy-two words.

88. It shall be lawful for any creditor, with the concurrence of one fourth of the creditors (including himself), at any time to call upon the trustee or Official Receiver to furnish and transmit to the creditors a statement of the accounts up to the date of such notice, and the trustee shall, upon receipt of such notice, furnish and transmit such statement of the accounts:

Provided that the person at whose instance the accounts are furnished shall, if so required, deposit with the trustee or Official Receiver, as the case may be, a sum sufficient to pay the costs of furnishing and transmitting the accounts, which sum shall be repaid to him out of the estate, if the court so direct.

89.-(1) Every trustee in a bankruptcy shall from time to time, as may be prescribed, and not less than once in every year during the continuance of the bankruptcy, transmit to the Official Receiver a state- ment showing the proceedings in the bankruptcy up to the date of the statement, containing the prescrib- ed particulars, and made out in the prescribed form.

(2) The Official Receiver shall cause the statements so transmitted to be examined, and shall call the trustee to account for any misfeasance, neglect, or omission, which may appear on the said statements

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