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BANKRUPTCY (IRELAND) AMENDMENT ACT 1872 - SECT 121

Court to have jurisdiction notwithstanding order to wind up by trustee, &c.

121. The following regulations shall be made with respect to the trustee and
committee of inspection:

(1)The creditors may, if they think fit, appoint more persons than one to the
office of trustee, and where more than one are appointed, they shall declare
whether any act required or authorised to be done by the trustee is to be done
by all or any one or more of such persons, but all such persons are in
this Act included under the term "trustee," and shall be joint tenants of the
property of the bankrupt. The creditors may also appoint persons to act as
trustees in succession in the event of one or more of the persons first named
declining to accept the office of trustee:

(2)If any vacancy occur in the office of trustee by death, resignation, or
otherwise, the creditors in general meeting shall fill up such vacancy, and a
general meeting for the purpose of filling up such vacancy may be convened by
the continuing trustee, if there be more than one, or by the Court on the
requisition of any creditor:

(3)The Court may, upon cause shown, remove any trustee. The creditors may, by
special resolution at a meeting specially called for that purpose, of which
seven days notice has been given, remove the trustee and appoint another
person to fill his office, and the Court shall give a certificate declaring
him to be the trustee:

(4)If a trustee be adjudged bankrupt, he shall cease to be trustee, and
the Court shall, if there be no other trustee, call a meeting of creditors for
the appointment of another trustee in his place:

(5)The property of the bankrupt shall pass from trustee to trustee, and shall
vest in the trustee for the time being during his continuance in office,
without any conveyance, assignment, or transfer whatever:

(6)The trustee of a bankrupt may sue and be sued by the official name of "the trustee of the property of     a bankrupt," inserting the name of the bankrupt, and by that name may hold property of every description, make contracts, sue and be sued, enter into any engagements binding upon himself and his successors in office, and do all other acts necessary or expedient to be done in the execution of his office:


(7)The certificate of appointment of a trustee shall, for all purposes of any
law in force in any part of the United Kingdom or in any of the dominions of
Her Majesty, requiring registration, enrolment, or recording of conveyances or
assignments of property, be deemed to be a conveyance or assignment of
property, and may be registered, enrolled, and recorded accordingly:

(8)Any member of the committee of inspection may resign his office by notice
in writing signed by him, and delivered to the trustee:

(9)The creditors may by resolution fix the quorum required to be present at a
meeting of the committee of inspection:

<(10)Any member of the committee of inspection may also be removed by a special resolution at any meeting of creditors of which the prescribed notice has been given, stating the object of the meeting:


<(11)On any vacancy occurring in the office of a member of the committee of inspection by removal, death, resignation, or otherwise, the trustee shall convene a meeting of creditors for the purpose of filling up such vacancy:


<(12)The continuing members of the committee of inspection may act, notwithstanding any vacancy in their body; and where the number of members of the committee of inspection is for the time being less than five, the creditors may increase that number, so that it do not exceed five:


<(13)No defect or irregularity in the election of a trustee or of a member of the committee of inspection shall vitiate any act bona8 fide done by him; and no act or proceeding of the trustee or of the creditors shall be invalid by reason of any failure of the creditors to elect all or any members of the committee of inspection:


<(14)If a member of the committee of inspection become a bankrupt his office shall thereupon become vacant:


<(15)Where there is no committee of inspection, any act or thing or any direction or consent by this Act authorised or required to be done or given by such committee may be done or given by the [Court] [Department] on the application of the trustee.

© 1872 Crown Copyright

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