Bankruptcy Act 1966
[ CCH Note: Modification Declaration FRLI No F2021L00261 ( Bankruptcy Regulations 2021 : FRLI No F2021L00261, registered on 19 March 2021 and effective from 1 April 2021.)
Part VIII of the Act is modified by inserting Division 1A before Division 1:
]Division 1A - Interpretation
SECTION 154A INTERPRETATION
154A
In this Part, in its application to Part X , a reference to a registered trustee includes a reference to a controlling trustee and a trustee of a personal insolvency agreement.
The creditors may, if they think fit, appoint 2 or more registered trustees jointly, or jointly and severally, to the office of trustee, and in either such case the property of the bankrupt vests in those registered trustees as joint tenants.
View history note
Hide history note158(2)
The creditors may, if they think fit, appoint registered trustees to act as trustees in succession in the event of one or more of the registered trustees appointed declining to act or ceasing for any reason to hold the office of trustee.
158(3)
In this section, a reference to a registered trustee, in relation to the appointment of a trustee of the estate of a bankrupt, includes a reference to a registered trustee who is, by virtue of subsection 156A(3) , the trustee of the estate of the bankrupt.
[ CCH Note: Modification Declaration FRLI No F2021L00261 ( Bankruptcy Regulations 2021 : FRLI No F2021L00261, registered on 19 March 2021 and effective from 1 April 2021.)
Section 158 of the Act is modified by substituting the section:
SECTION 158 APPOINTMENT OF 2 OR MORE CONTROLLING TRUSTEES
]
158
The creditors may appoint 2 or more controlling trustees jointly, or jointly and severally.
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