HC Deb 04 August 1913 vol 56 cc1232-3

(1) If the Board of Trade are of opinion that any trusteeship in bankruptcy is being needlessly protracted without any probable advantage to the creditors, the Board may remove the trustee from his office, but if the creditors by ordinary resolution disapprove of his removal, he or they may appeal against it to the High Court.

(2) Where on the release, removal, resignation, or death of a trustee in bankruptcy an official receiver is acting as trustee, he may disclaim any onerous property of the bankrupt which might be disclaimed by a trustee under Section 55 of the principal Act, notwithstanding that the time prescribed by that Section for such disclaimer has expired.

Amendment made: At the end of the Clause insert the words "but such power of disclaimer shall be exerciseable only within twelve months after the official receiver has become trustee in the circumstances aforesaid or has become aware of the existence of such onerous property, whichever period may last expire."—[Mr. Cassel.]