BANKRUPTCY.
No. 7 of 1891.
613
(6) divide in its existing form among the creditors, according to its estimated value, any property which, from its peculiar nature or other special circumstances, cannot be readily or advantageously sold.
(2) The permission given for the purposes of this section shall not be a general permission to do all or any of the above-mentioned things, but shall only be a permission to do the particular thing or things for which permission is sought.
Distribution of property.
51.--(1) Subject to the retention of such sums as may be necessary for the costs of administration or otherwise, the trustee shall, with all convenient speed, declare and distribute dividends among the creditors who have proved their debts.
(2) The first dividend, if any, shall be declared within four months after the conclusion of the first meeting of creditors, unless there is a sufficient reason, approved by the court, for postponing the declaration to a later date, and subsequent dividends shall, in the absence of sufficient reasons to the contrary, be declared and distributed at intervals of not more than six months.
(3) At least one month before declaring a dividend, the trustee shall cause notice of his intention to do so to be gazetted, and shall also post a notice in writing to each creditor mentioned in the bankrupt's statement who has not proved his debt.
(4) When the trustee has declared a dividend, he shall cause a notice to be gazetted showing the amount of the dividend and when and how it is payable.
52. Where one partner of a firm is adjudged bankrupt, a creditor to whom the bankrupt is indebted jointly with the other partners of the firm or any of them shall not receive any dividend out of the separate property of the bankrupt until all the separate creditors have received the full amount of their respective debts.
53.--(1) In the calculation and distribution of a dividend the trustee shall make provision for debts provable in bankruptcy appearing from the bankrupt's statements or otherwise to be due to persons resident in places so distant from the place where the bankruptcy is being administered that they have not had a sufficient time to prove their debts.
i
BANKRUPTCY.
No. 7 of 1891.
613
6) divide in its existing form among the creditors, according to its estimated value, any property which, from its peculiar nature or other special circumstances, cannot be readily or advantageously sold.
(2) The permission given for the purposes of this section shall not be a general permission to do all or any of the above-mentioned things, but shall only be a permission to do the particular thing or things for which permission is sought.
Distribution of property.
tion of divi-
c. 52, s. 58.
51.--(1) Subject to the retention of such sums as may be Declaration necessary for the costs of administration or otherwise, the and distribu- trustee shall, with all convenient speed, declare and distribute dends. dividends among the creditors who have proved their debts. 46 & 47 Vict.
(2) The first dividend, if any, shall be declared within four months after the conclusion of the first meeting of creditors, unless there is a sufficient reason, approved by the court, for postponing the declaration to a later date, and subsequent dividends shall, in the absence of sufficient reasons to the contrary, be declared and distributed at intervals of not more than six months.
Schedule.
Forms Nos.
(3) At least one month before declaring a dividend, the First trustee shall cause notice of his intention to do so to be s gazetted, and shall also post a notice in writing to each 19 and 20, creditor mentioned in the bankrupt's statement who has not proved his debt.
Schedule.
(4) When the trustee has declared a dividend, he shall First cause a notice to be gazetted showing the amount of the Form No. 21. dividend and when and how it is payable.
dividends.
52. Where one partner of a firm is adjudged bankrupt, a Joint and creditor to whom the bankrupt is indebted jointly with the separate other partners of the firm or any of them shall not receive 46 & 47 Vict. any dividend out of the separate property of the bankrupt 52, x, 59. until all the separate creditors have received the full amount of their respective debts.
c. s.
creditors
53.--(1) In the calculation and distribution of a dividend Provision for the trustee shall make provision for debts provable in bank- residing at a ruptcy appearing from the bankrupt's statements or other- distance, etc. wise to be due to persons resident in places so distant from
46 & 47 Vict. c. 52, s. 60.
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