1977 Ed.]
Bankruptcy Rules
[CAP. 6
A 43
172. Where one-fourth in value of the creditors desire that a general meeting of the creditors may be summoned to consider the propriety of removing the trustee, such meeting may be summoned by a member of the committee of inspection, or by the Official Receiver, on the deposit of a sum sufficient to defray the expenses of summoning such meeting.
[Subsidiary] Meeting to consider removal of trustee.
R341.
R342. G.N.A. 124/55.
173. The trustee shall forthwith pay all moneys received by him as trustee to the credit of the bank account in the name of the debtor's estate opened by him in pursuance of the provisions of section 91(1) of the Ordinance. All payments out shall be made by cheque payable to order, and every cheque shall have marked or written on the face of it the name of the estate and shall be signed by the trustee. Every cheque shall be counter-signed in cases where there is a committee of inspection by at least one member of the committee and by such other person, if any, as the creditors or committee of inspection may appoint.
174. Where a trustee applies to the court for directions in any matter, he shall file an application, and the court shall then hear the application, or fix a day for hearing it, and direct the trustee to apply by motion.
175. Any creditor who has proved his debt may apply to the trustee for a copy of the accounts (or any part thereof) relating to the estate as shown by the cash book up to date, and on paying for the same at the rate of 75 cents per folio he shall be entitled to have such copy accordingly.
176. Where in pursuance of section 88 of the Ordinance the Official Receiver or trustee is required to transmit to creditors a statement of the accounts, the cost of furnishing and transmitting such statement shall be calculated at the rate of 75 cents per folio for each statement.
177. Neither the trustee nor any member of the committee of inspection of an estate shall, while acting as trustee or member of such committee, except by leave of the court, either directly or indirectly, by himself or any partner, clerk, agent or servant, become purchaser of any part of the estate. Any such purchase made contrary to the provisions of this rule may be set aside by the court on the application of the Official Receiver or any creditor or the debtor.
178. (1) Where the trustee carries on the business of the debtor, he shall not without the express sanction of the court purchase goods for the carrying on of such business from his employer (if any) or from any person whose connexion with the trustee is of such a nature as would result in the trustee obtaining any portion of the profit (if any) out of the transaction.
Application for directions.
R344.
Forms 131, 132. G.N.A. 124/55.
Creditor may obtain copy of trustee's accounts.
R345. G.N.A. 124/55.
Statements of accounts to be furnished to creditors.
R346. Form 150. (Cap. 6.) G.N.A. 124/55.
Purchase of part of estate by trustee or committee forbidden.
R347.
G.N.A. 124/55.
Dealings with estate by trustee and committee of inspection. R348.
1977 Ed.]
Bankruptcy Rules
[CAP. 6
A 43
172. Where one-fourth in value of the creditors desire that a general meeting of the creditors may be summoned to consider the propriety of removing the trustee, such meeting may be sum- moned by a member of the committee of inspection, or by the Official Receiver, on the deposit of a sum sufficient to defray the expenses of summoning such meeting.
[Subsidiary] Meeting to consider removal of trustee.
R341.
R342. G.N.A. 124/55.
173. The trustee shall forthwith pay all moneys received by Bank account. him as trustee to the credit of the bank account in the name of the debtor's estate opened by him in pursuance of the provisions of section 91(1) of the Ordinance. All payments out shall be made by cheque payable to order, and every cheque shall have marked or written on the face of it the name of the estate and shall be signed by the trustee. Every cheque shall be counter- signed in cases where there is a committee of inspection by at least one member of the committee and by such other person, if any, as the creditors or committee of inspection may appoint.
174. Where a trustee applies to the court for directions in any matter, he shall file an application, and the court shall then hear the application, or fix a day for hearing it, and direct the trustee to apply by motion.
175. Any creditor who has proved his debt may apply to the trustee for a copy of the accounts (or any part thereof) relating to the estate as shown by the cash book up to date, and on paying for the same at the rate of 75 cents per folio he shall be entitled to have such copy accordingly.
176. Where in pursuance of section 88 of the Ordinance the Official Receiver or trustee is required to transmit to creditors a statement of the accounts, the cost of furnishing and transmitting such statement shall be calculated at the rate of 75 cents per folio for each statement.
177. Neither the trustee nor any member of the committee of inspection of an estate shall, while acting as trustee or member of such committee, except by leave of the court, either directly or indirectly, by himself or any partner, clerk, agent or servant, become purchaser of any part of the estate. Any such purchase made contrary to the provisions of this rule may be set aside by the court on the application of the Official Receiver or any creditor or the debtor.
178. (1) Where the trustee carries on the business of the debtor, he shall not without the express sanction of the court purchase goods for the carrying on of such business from his employer (if any) or from any person whose connexion with the trustee is of such a nature as would result in the trustee obtaining any portion of the profit (if any) out of the transaction.
Application for directions.
R344.
Forms 131, 132. G.N.A. 124/55.
Creditor may obtain copy of trustee's accounts.
R345. G.N.A. 124/55.
Statements of accounts to be furnished to creditors.
R346. Form 150. (Cap. 6.) G.N.A. 124/55.
Purchase of part of estate by trustee or
committee forbidden.
R347.
G.N.A. 124/55.
Dealings with estate by trustee and committee of inspection. R348.
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