CAP. 6]
[r. 161 cont.]
Notice of appointment.
R327.
Grounds for refusing to appoint.
R330.
(Cap. 6),
Removal for failing to keep up or increase security.
R331.
Removal by court.
R332.
Notice of resignation.
R333.
Limit of remuneration.
R335.
Trustee carrying on business, Bankruptcy.
of the debtor shall, as from the date of such notice, be deemed to be charged with the payment of the said damages, costs and expenses.
Outside trustees.
162. On the appointment of a trustee, notice of his appointment shall forthwith be gazetted by the Official Receiver. Notice of the appointment shall, if he considers it necessary, be inserted by the Official Receiver in a local paper. The expense of such gazetting and notice shall be borne by the estate.
163. It shall be a sufficient reason for refusing to approve the appointment of a person as trustee that in any other proceedings under the Ordinance such person has either been removed under subsection (2) of section 96 of the Ordinance from the office of trustee or has failed or neglected, without good cause shown by him, to render his accounts for audit for two months after the date by which the same should have been rendered.
164. Where a trustee or special manager has given security in the prescribed manner but fails to keep up such security or, if called upon to do so, to increase such security, the court may remove him from his office.
165. Where a trustee is removed by the court, the order removing him shall at once be filed with the proceedings in the matter and shall also be gazetted by the Official Receiver.
166. A trustee intending to resign his office shall call a meeting of creditors to consider whether his resignation shall be accepted or not, and shall give not less than seven days' notice of the meeting to the Official Receiver.
167. Except as provided by the Ordinance or any rules thereunder, no trustee shall be entitled to receive out of the estate any remuneration for services rendered to the estate except the remuneration to which under the Ordinance and such rules he is entitled as trustee.
168. (1) Where the trustee or special manager carries on the business of the debtor, he shall keep a distinct account of
402
CAP. 6]
[r. 161 cont.]
Notice of appointment.
R327.
Grounds for refusing to appoint.
R330.
(Cap. 6),
Removal for failing to keep up or increase
security.
R331.
Removal by court.
R332.
Notice of resignation.
R333.
Limit of remunera- tion.
R335.
Trustee
carrying on business,
Bankruptcy.
of the debtor shall, as from the date of such notice, be deemed to be charged with the payment of the said damages, costs and expenses.
Outside trustees.
162. On the appointment of a trustee, notice of his appointment shall forthwith be gazetted by the Official Re- ceiver. Notice of the appointment shall if he considers it necessary be inserted by the Official Receiver in a local paper. The expense of such gazetting and notice shall be borne by the estate.
163. It shall be a sufficient reason for refusing to approve the appointment of a person as trustee that in any other proceedings under the Ordinance such person has either been removed under subsection (2) of section 96 of the Ordinance from the office of trustee or has failed or neglected, without good cause shown by him, to render his accounts for audit for two months after the date by which the same should have been rendered.
164. Where a trustee or special manager has given security in the prescribed manner but fails to keep up such security or, if called upon to do so, to increase such security, the court may remove him from his office.
165. Where a trustee is removed by the court the order removing him shall at once be filed with the proceedings in the matter and shall also be gazetted by the Official Receiver.
166. A trustee intending to resign his office shall call a meeting of creditors to consider whether his resignation shall be accepted or not, and shall give not less than seven days' notice of the meeting to the Official Receiver.
167. Except as provided by the Ordinance or any rules. thereunder, no trustee shall be entitled to receive out of the estate any remuneration for services rendered to the estate except the remuneration to which under the Ordinance and such rules he is entitled as trustee.
168. (1) Where the trustee or special manager carries on the business of the debtor he shall keep a distinct account of
402
No comments yet.
Private notes are available after approval.