616
Record and account to be kept by trustee.
No. 7 of 1891.
BANKRUPTCY
(2) No trustee in a bankruptcy shall pay any money received by him as trustee into his private banking account, or use it otherwise than in the administration of the estate, on any pretence whatever.
(3) Any trustee paying money into his private banking account, or using it otherwise than in the administration of the estate, or retaining in his hands for more than a week, without the leave of the court previously obtained, a sum exceeding one hundred dollars, or without explaining such retention to the satisfaction of the court, may, without prejudice to any other liability, be dismissed from office without remuneration, and may be ordered by the court to pay any expenses to which the creditors may be put in consequence of his dismissal.
61. (1) The trustee shall keep a record in writing in which he shall enter a minute of all proceedings had and resolutions passed at any meeting of creditors or of the committee of inspection and a statement of all negotiations and proceedings necessary to give a correct view of the management of the bankrupt's property.
46 & 47 Vict. c. 52, s. 80.
Audit of trustee's accounts and ...
(2) He shall also keep an account, to be called the Estate Account, in the form of an ordinary debtor and creditor account, in which he shall enter from day to day all his receipts and payments as trustee.
(3) The trustee shall produce at every meeting of creditors and at every meeting of the committee of inspection the record and account above mentioned and also the pass-book of the estate's bank account, and such documents shall be open to the inspection of any creditor at all reasonable times.
62. (1) The trustee shall, at any time the court may order and not less than once in each year during his tenure of office, deposit in the Registry of the court an account of his receipts and payments verified by affidavit.
46 & 47 Vict. c. 52, s. 78.
First Schedule. Form No. 2.
(2) Such accounts shall be examined and audited by the Registrar or by any person named by the court or the court may itself examine them, and it shall be the duty of the trustee to furnish all such vouchers or information as may be necessary for such audit or examination.
616
Record and account to
be kept by
trustee.
No. 7 of 1891.
BANKRUPTCY.
(2) No trustee in a bankruptcy shall pay any money received by him as trustee into his private banking account, or use it otherwise than in the administration of the estate, on any pretence whatever.
(3) Any trustee paying money into his private banking account, or using it otherwise than in the administration of the estate, or retaining in his hands for more than a week, without the leave of the court previously obtained, a sum exceeding one hundred dollars, or without explaining such retention to the satisfaction of the court, may, without pre- judice to any other liability, be dismissed from office without remuneration, and may be ordered by the court to pay any expenses to which the creditors may be put in consequence of his dismissal.
61. (1) The trustee shall keep a record in writing in which he shall enter a minute of all proceedings had and resolutions passed at any meeting of creditors or of the 46 & 47 Vict. committee of inspection and a statement of all negotiations and proceedings necessary to give a correct view of the management of the bankrupt's property.
e. 52, s. 80.
Audit of trustee's
accounts and
(2) He shall also keep an account, to be called the Estate Account, in the form of an ordinary debtor and creditor account, in which he shall enter from day to day all his receipts and payments as trustee.
(3) The trustee shall produce at every meeting of creditors and at every meeting of the committee of inspection the record and account above mentioned and also the pass- book of the estate's bank account, and such documents shall be open to the inspection of any creditor at all reasonable times.
62. (1) The trustee shall, at any time the court may order and not less than once in each year during his tenure order therein. of office, deposit in the Registry of the court an account of 46 & 47 Vict. his receipts and payments verified by affidavit.
c. 52, s. 78.
First
Schedule.
(2) Such accounts shall be examined and audited by the Fone No. 2. Registrar or by any person named by the court or the court may itself examine them, and it shall be the duty of the trustee to furnish all such vouchers or information as may be necessary for such audit or examination.
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