Bankruptcy.
[CAP. 6
of trustee's
powers in copyright.
relation to
4 & 5 Geo. 5.
c. 59, s. 60.
65. Where the property of a bankrupt comprises the Limitation copyright in any work or any interest in such copyright and he is liable to pay to the author of the work royalties or a share of the profits in respect thereof, the trustee shall not be entitled to sell or authorize the sale of any copies of the work, or to perform or authorize the performance of the work, except on the terms of paying to the author such sums by way of royalty or share of the profits as would have been payable by the bankrupt, nor shall he, without the consent of the author or of the court, be entitled to assign the right or transfer the interest or to grant any interest in the right by licence, except upon terms which will secure to the author payments by way of royalty or share of the profits at a rate not less than that which the bankrupt was liable to pay.
of Official
trustee from
Receiver and personal certain cases. c. 53, s. 61.
liability in
4 & 5 Geo. 5.
66. Where the Official Receiver or trustee has seized or Protection disposed of any goods, chattels, property or other effects in the possession or on the premises or under the control of a debtor against whom a receiving order has been made and it is thereafter made to appear that the said goods, chattels, property or other effects were not at the date of the receiving order the property of the debtor, the Official Receiver or trustee shall not be personally liable for any loss or damage arising from such seizure or disposal sustained by any person claiming such property nor for the costs of any proceedings taken to establish a claim thereto, unless the court is of opinion that the Official Receiver or trustee has been guilty of mala fides or of gross negligence in respect of the same.
Distribution of property.
67. (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 amongst the creditors who have proved their debts.
(2) The first dividend, if any, shall be declared and distributed within four months after the conclusion of the first meeting of creditors, unless the trustee satisfies the court that there is sufficient reason for postponing the declaration to a later date.
Declaration
and distribu-
dividends.
4 & 5 Geo. 5, Rules.
c. 59, s. 62.
Forms Nos.
138, 139, 141.
221
Bankruptcy.
[CAP. 6
of trustee's
powers in copyright.
relation to
4 & 5 Geo. 5.
c. 59, s. 60.
65. Where the property of a bankrupt comprises the Limitation copyright in any work or any interest in such copyright and he is liable to pay to the author of the work royalties or a share of the profits in respect thereof, the trustee shall not be entitled to sell or authorize the sale of any copies of the work, or to perform or authorize the performance of the work, except on the terms of paying to the author such sums by way of royalty or share of the profits as would have been payable by the bankrupt, nor shall he, without the consent of the author or of the court, be entitled to assign the right or transfer the interest or to grant any interest in the right by licence, except upon terms which will secure to the author payments by way of royalty or share of the profits at a rate not less than that which the bankrupt was liable to pay.
of Official
trustee from
Receiver and personal certain cases. c. 53, s. 61.
liability in
4 & 5 Geo. 5.
66. Where the Official Receiver or trustee has seized or Protection disposed of any goods, chattels, property or other effects in the possession or on the premises or under the control of a debtor against whom a receiving order has been made and it is thereafter made to appear that the said goods, chattels, property or other effects were not at the date of the receiving order the property of the debtor, the Official Receiver or trustee shall not be personally liable for any loss or damage. arising from such seizure or disposal sustained by any person claiming such property nor for the costs of any proceedings taken to establish a claim thereto, unless the court is of opinion that the Official Receiver or trustee has been guilty of mala fides or of gross negligence in respect of the same.
Distribution of property.
67. (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 dis- tribute dividends amongst the creditors who have proved their debts.
(2) The first dividend, if any, shall be declared and dis- tributed within four months after the conclusion of the first meeting of creditors, unless the trustee satisfies the court that there is sufficient reason for postponing the declaration to a later date.
Declaration tion of
and distribu-
dividends.
4 & 5 Geo. 5, Rules.
c. 59, s. 62.
Forms Nos.
138, 139, 141.
221
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