a final dividend, if any, or has ceased to act by reason of a composition having been approved, or has resigned, or has been removed from his office, the Board of Trade shall, on his application, cause a report on his accounts to be prepared, and, on his complying with all the requirements of the Board, shall take into consideration the report, and any objection which may be urged by any creditor or person interested against the release of the trustee, and shall either grant or withhold the release accordingly, subject nevertheless to an appeal to the High Court.

(2.) Where the release of a trustee is withheld the Court may, on the application of any creditor or person interested, make such order as it thinks just, charging the trustee with the consequences of any act or default he may have done or made contrary to his duty.

(3.) An order of the Board releasing the trustee shall discharge him from all liability in respect of any act done or default made by him in the administration of the affairs of the bankrupt, or otherwise in relation to his conduct as trustee, but any such order may be revoked on proof that it was obtained by fraud or by suppression or concealment of any material fact.

(4.) Where the trustee has not previously resigned, or been removed, his release shall operate as a removal of him from his office, and thereupon the official receiver shall be the trustee.

Official Name.

83. Official Name of Trustee. The trustee 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 in any part of the British dominions or elsewhere* hold property of

* Clause 83 of the Bankruptcy Act of 1869 did not contain the words: "In any part of the British dominions or elsewhere."

every description, make contracts, sue and be sued, enter into any engagements binding on himself and his successors in office, and do all other acts necessary or expedient to be done in the execution of his office.

Appointment and Removal.

84. Power to appoint joint or successive Trustees.* (1.) The creditors may, if they think fit, appoint more persons than one to the office of trustee, and when more persons 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.

(2.) 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, or failing to give security, or not being approved of by the Board of Trade.

85. Office of Trustee vacated by Insolvency.-If a receiving order is made against a trustee, he shall thereby vacate his office of trustee.†

86. Removal of Trustee.-(1.) The creditors may, by ordinary resolution, at a meeting specially called

*This clause re-enacts the first sub-section of clause 83 of the Act of 1869.

This clause re-enacts the first part of the fifth sub-section of clause 83 of the Act of 1869; with the substitution of the words, "if a receiving order is made against a trustee" for the words "if a trustee be adjudged bankrupt,"

for that purpose, of which seven days' notice has been given, remove a trustee appointed by them, and may at the same or any subsequent meeting appoint another person to fill the vacancy as hereinafter provided in case of a vacancy in the office of trustee.

(2.) If the Board of Trade are of opinion that a trustee appointed by the creditors is guilty of misconduct, or fails to perform his duties under this Act, the Board may remove him 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.*

87. Proceedings in case of Vacancy in Office of Trustee.†―(1.) If a vacancy occurs in the office of a trustee the creditors in general meeting may appoint a person to fill the vacancy, and thereupon the same proceedings shall be taken as in the case of a first appointment.

(2.) The official receiver shall, on the requisition of any creditor, summon a meeting for the purpose of filling any such vacancy.

(3.) If the creditors do not within three weeks after the occurrence of a vacancy appoint a person to fill the vacancy, the official receiver shall report the matter to the Board of Trade, and the Board may appoint a trustee; but in such case the creditors or committee

* So far as regards the power of the creditors, the provisions of this clause are the same as those contained in sub-section 4 of clause 83 of the Act of 1869. But the power of removing a trustee given by that clause to the Court of Bankruptcy is by the present clause transferred to the Board of Trade.

† See ante, clause 21. With the exception of the general power given to the creditors to fill a vacancy in the office of trustee, which was also conferred upon them by sections 83 and 84 of the Act of 1869, the provisions of this clause are new.

of inspection shall have the same power of appointing a trustee as in the case of a first appointment.

(4.) During any vacancy in the office of trustee the official receiver shall act as trustee.

Voting Powers of Trustee.

88. Limitation of Voting Powers of Trustee.—The vote of the trustee, or of his partner, clerk, solicitor, or solicitor's clerk, either as creditor or as proxy for a creditor, shall not be reckoned in the majority required for passing any resolution affecting the remuneration or conduct of the trustee.*

Control over Trustee.

89. Discretionary Powers of Trustee and Control thereof.(1.) Subject to the provisions of this Act the trustee shall, in the administration of the property of the bankrupt, and in the distribution thereof amongst his creditors, have regard to any directions that may be given by resolution of the creditors at any general meeting, or by the committee of inspection, and any directions so given by the creditors at any general meeting shall in case of conflict be deemed to override any directions given by the committee of inspection. (2.) The trustee may from time to time summon

* This is a new clause, and by no means an unimportant one.

† This and the following clause correspond in many respects to clause 20 of the Bankruptcy Act of 1869. There are, however, some important modifications. The second and fourth sub-sections of the present clause are new; and there is no re-enactment of that part of clause 20 of the Act of 1869 which required the trustee to call periodical meetings of the committee of inspection for the purpose of auditing his accounts. The power of audit is, as we have already seen, transferred to the Board of Trade by clause 78 of the present act.

general meetings of the creditors for the purpose of ascertaining their wishes, and it shall be his duty to summon meetings at such times as the creditors, by resolution, either at the meeting appointing the trustee or otherwise may direct, or whenever requested in writing to do so by one-fourth in value of the creditors.

(3.) The trustee may apply to the Court in manner prescribed for directions in relation to any particular matter arising under the bankruptcy.

(4.) Subject to the provisions of this Act the trustee shall use his own discretion in the management of the estate and its distribution among the creditors.

90. Appeal to Court against Trustee.*If the bankrupt or any of the creditors, or any other person, is aggrieved by any act or decision of the trustee, he may apply to the Court, and the Court may confirm, reverse, or modify the act or decision complained of, and make such order in the premises as it thinks just.

91. Control of Board of Trade over Trustees.†—(1). The Board of Trade shall take cognizance of the conduct of trustees, and in the event of any trustee not faithfully performing his duties, and duly observing all the requirements imposed on him by statute, rules, or otherwise, with respect to the performance of his duties, or in the event of any complaint being made to the Board by any creditor in regard thereto, the

* This clause re-enacts a portion of the latter part of clause 20 of the Bankruptcy Act of 1869.

This is a new clause. Its effect, speaking generally, is to transfer to the Board of Trade the control over the trustee, which was under sections 57 and 58 of the Act of 1869 exercised by the comptroller in bankruptcy, who will in future (clause 153) act under the directions of the Board of Trade.