BANKRUPTCY (IRELAND) AMENDMENT ACT 1872 - SECT 115 Duty of trustee as to unclaimed dividends and outstanding property.

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BANKRUPTCY (IRELAND) AMENDMENT ACT 1872 - SECT 115

Duty of trustee as to unclaimed dividends and outstanding property.

115. Unclaimed dividends, and any other moneys arising from the property of
the bankrupt, remaining under the control of the trustee at the close of the
bankruptcy of any bankrupt, or accruing thereafter, shall be accounted and
paid over to the "unclaimed dividend account," in the same manner in all
respects as if same were unclaimed dividends in a bankruptcy under
the said Act; and same shall be subject to the like orders and be applied for
the same purposes as are mentioned in the said Act. The trustee shall also
deliver a list of any outstanding property of the bankrupt to the prescribed
persons, and the same shall, when practicable, be got in and applied for the
benefit of the creditors in manner prescribed.][115.(1) When the trustee is
released

(a)he shall deal with any unclaimed dividends as mentioned in section 104(5),
notwithstanding that they have not remained unclaimed for six months;

(b)he shall pay to the Department

(i)any sums remaining in his hands which form part of the bankrupt's estate,
and

(ii)any sum remaining to the credit of an account in his name which has been
authorised under section 104(2) (including any sum credited to that account
under paragraph (a)),

for lodgment into the Insolvency Account; and

(c)he shall deliver to the official assignee a list of any outstanding
property of the bankrupt's.

(2) The property mentioned in paragraph (1)(c) shall, when practicable, be got
in and applied for the benefit of the creditors.

(3) Where any sum accrues to the trustee after his release in right of the
bankrupt's estate, the trustee shall pay it to the Department for lodgment
into the Insolvency Account.][

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Northern Irish Legislation

BANKRUPTCY (IRELAND) AMENDMENT ACT 1872 - SECT 115