1902
No. 10 of 1931.
BANKRUPTCY.
Record and
account to be kept by trustee.
Audit of trustee's accounts.
4 & 5 Geo. 5, c. 59, s. 92. Rules.
Form. No. 146.
office by the court and shall be liable to pay any expenses occasioned by reason of his default.
(3) Any trustee paying money into his private banking account or using it otherwise than in the administration of the estate may without prejudice to any other liability be dismissed from office without remuneration and may be ordered by the court to make good all losses and expenses which the creditors may suffer in consequence of his conduct.
92.—(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. Such record if in Chinese shall be supplemented by a correct English translation thereof and shall be produced for inspection to the Official Receiver at any time on demand.
(2) The trustee 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.
93.—(1) Every trustee other than the Official Receiver shall, at such times as may be prescribed but not less than once in each year during his tenure of office, send to the Official Receiver an account of his receipts and payments as such trustee.
(2) The account shall be in a prescribed form, shall be made in duplicate and shall be verified by a statutory declaration in the prescribed form.
(3) The Official Receiver shall cause the accounts so sent to be audited, and for the purposes of the audit the trustee shall furnish the Official Receiver with such vouchers and information as he may require, and he may at any time require the production of and inspect any books or accounts kept by the trustee.
Page 60
Page 61
1902
No. 10 of 1931.
BANKRUPTCY.
Record and
account to be kept by trustee.
Audit of trustee's accounts.
4 & 5 Geo. 5, c. 59, s. 92. Rules.
Form. No. 146.
office by the court and shall be liable to pay any expenses occasioned by reason of his default.
(3) Any trustee paying money into his private banking account or using it otherwise than in the administration of the estate may without prejudice to any other liability be dismissed from office without remuneration and may be ordered by the court to make good all losses and expenses which the creditors may suffer in consequence of his conduct.
92.—(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 bank- rupt's property. Such record if in Chinese shall be supple- mented by a correct English translation thereof and shall be produced for inspection to the Official Receiver at any time on demand.
(2) The trustee 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.
93.-(1) Every trustee other than the Official Receiver shall, at such times as may be prescribed but not less than once in each year during his tenure of office, send to the Official Receiver an account of his receipts and payments as such trustee.
(2) The account shall be in a prescribed form, shall be made in duplicate and shall be verified by a statutory declaration in the prescribed form.
(3) The Official Receiver shall cause the accounts so sent to be audited, and for the purposes of the audit the trustee shall furnish the Official Receiver with such vouchers and information as he may require, and he may at any time require the production of and inspect any books or accounts kept by the trustee.
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