Regulation 76

Subject to regulation 75(3), after the expiration of 14 days after the date of the notice of intended dividend sent by a trustee of a bankrupt’s estate, the trustee must proceed to declare a dividend, and send to each creditor a notice of dividend specifying the percentage of dividend payable and the amount of dividend payable to the creditor.

If after the payment of dividend, any creditor’s proof which has been admitted is withdrawn or expunged or the amount of it is realised, the creditor must repay to the trustee of the bankrupt’s estate in question for the credit of the estate any amount overpaid by way of dividend.

If it becomes necessary, in the opinion of the trustee of a bankrupt’s estate, to postpone the declaration of the dividend, the trustee may postpone the declaration of dividend as the trustee thinks fit.