In force2020 Revised Edition

Contents

Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 17 · Administration in Bankruptcy

383. Incurring expenses where property insufficient

(1)

Subject to this section and section 384, the Official Assignee is not liable to incur any expense in relation to the realisation and distribution of a bankrupt’s property unless there is sufficient available property in the bankrupt’s estate.

(2)

The Court may, on the application of a creditor, direct the Official Assignee to incur a particular expense on condition that the creditor indemnifies the Official Assignee in respect of the recovery of the amount expended and, if the Court so directs, gives such security to secure the amount of the indemnity as the Court thinks reasonable.

(3)

Nothing in this section relieves the Official Assignee of any obligation under section 339, 340, 341, 342, 343 or 344.

(4)

Nothing in this section relieves a trustee in bankruptcy of any obligation to submit or serve a document (including a report) to or on the Official Assignee under any provision of Parts 3 and 16 to 22 by reason only that the trustee in bankruptcy would be required to incur expense in order to perform that obligation.