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Payments by trustee into Insolvency Account or authorised account. 104. The trustee shall pay all sums from time to time received by him into such bank as the majority of the creditors in number and value at any general meeting shall appoint, and failing such appointment into the Bank of Ireland; and if he at any time keep in his hands any sum exceeding fifty pounds for more than ten days, he shall be subject to the following liabilities; that is to say (1)He shall pay interest at the rate of twenty pounds per centum per annum on the excess of such sum above fifty pounds as he may retain in his hands: (2)Unless he can prove to the satisfaction of the Court that his reason for retaining the money was sufficient, he shall, on the application of any creditor, be dismissed from his office by the Court, and shall have no claim for remuneration, and be liable to any expenses to which the creditors may be put by or in consequence of his dismissal.][
© 1872 Crown Copyright
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