Deeds of Arrangement Act 1914 (repealed)

15 Audit of accounts. E+W

(1) Where, in the course of the administration of the estate of a debtor who has executed a deed of arrangement, or within twelve months from the date when the final accounts of the estate were rendered to the Board of Trade, an application in writing is made to the Board by a majority in number and value of the creditors who have assented to the deed for an official audit of the trustee’s accounts, the Board may cause the trustee’s accounts to be audited, and in such case [F1 any rules made under [F2 section 412 of the Insolvency Act 1986]], relating to the institution and enforcement of an audit of the accounts of a trustee in bankruptcy (including the provisions as to fees) shall, with necessary modifications, apply to the audit of the trustee’s accounts, and the Board shall have power on the audit to require production of a certificate for the taxed costs of any solicitor whose costs have been paid or charged by the trustee, and to disallow the whole or any part of any costs in respect of which no certificate is produced.

(2) The Board of Trade may determine how and by what parties the costs, charges and expenses of and incidental to the audit (including any prescribed fees chargeable in respect thereof) are to be borne, whether by the applicants or by the trustee or out of the estate, and may, before granting an application for an audit, require the applicants to give security for the costs of the audit.

Textual Amendments

F1 Words substituted by virtue of Insolvency Act 1985 (c. 65, SIF 66), s. 235, Sch. 8 para. 2(6) and Insolvency Act 1986 (c. 45, SIF 66), ss. 439(2), 443, Sch. 14 (the substitution by the Insolvency Act 1985 being with saving in the Insolvency Act 1986 (c.45, SIF 66), ss. 437, 443, Sch. 11 para. 10(2))

F2 Words substituted by Insolvency Act 1986 (c. 45, SIF 66), ss. 439(2), 443, Sch. 14