Bona Vacantia
115. The sum of $30,328 was transferred to general revenue as bona vacantia under Section 277 of the Companies Ordinance upon companies being struck off the register under Section 276.
Fees
116. The Official Receiver's fees and commission charged during the year totalled $60,229 as follows:
Bankruptcy
Companies Liquidation
$43,614
16,615
$60,229
The fees collected in a year are not a reliable index to the amount of work during that year, since by the nature of things they include fees in respect of work done in previous years and do not include many fees payable in respect of current cases.
PART IX
OFFICIAL TRUSTEE AND JUDICIAL TRUSTEE
Explanatory
117. The Official Trustee's functions are laid down in Part VII of the Trustee Ordinance (Cap. 29) and the Administration of Trust Fund Rules made under Section 76 of that Ordinance. The Judicial Trustee Rules, 1953, made under Section 64 of the Trustee Ordinance, provide that where an official of the Court is appointed Judicial Trustee, the Registrar General shall be so appointed unless for special reasons the Court directs that some other official of the Court be appointed.
Administration of Trusts
118. The number of trusts administered by the Official Trustee remained unchanged at eleven. This number includes three trusts for charitable purposes the funds of which were, owing to the loss during the war of all the Official Trustee's records, mistakenly thought to belong to another charitable trust. The error came to light some years ago, but as the 'unscrambling' of the funds of the trusts concerned is an exceedingly complicated matter, and as the Department has been extremely hard pressed in other directions, it has not yet been possible to rewrite all the post-war accounts and obtain the necessary Court orders to rectify the position. A considerable amount of preliminary
36
No comments yet.
Private notes are available after approval.