Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 3 · Official Assignee, Official Receiver and Insolvency Practitioners
40. Trustee in bankruptcy to pay moneys received into prescribed bank account
Feedback & supportEvery trustee in bankruptcy must, in the manner and at the times prescribed by regulations, pay all moneys received as trustee into such bank account as is prescribed by those regulations or as may be specified by the Court.
trustee in bankruptcy
“trustee in bankruptcy” means a person appointed under section 36 as trustee of a bankrupt’s estate.
Any trustee in bankruptcy who pays any moneys received as trustee into any bank account other than the bank account prescribed or specified under subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 12 months or to both.
trustee
“trustee”, in relation to a bankruptcy and a bankrupt, means the trustee of the bankrupt’s estate and includes the Official Assignee when acting as trustee of the bankrupt’s estate;