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31(1)Schedule 4 (discharge on composition) shall be amended as follows.E+W+S+N.I.
(2)In paragraph 2, after the words “permanent trustee” there shall be inserted the words “ , where he is not the Accountant in Bankruptcy, ”.
(3)In paragraph 9—
(a) in sub-paragraph (1), after the words “permanent trustee” there shall be inserted the words “ , where he is not the Accountant in Bankruptcy, ”;
(b)after sub-paragraph (1) there shall be inserted the following sub-paragraph—
“(1A)Where the offer of composition is approved and the permanent trustee is the Accountant in Bankruptcy, the permanent trustee shall prepare accounts of his intromissions with the debtor’s estate and he shall make a determination of his fees and outlays calculated in accordance with regulations made under section 69A of this Act.”;
(c)after sub-paragraph (2) there shall be inserted the following sub-paragraph—
“(3)Subsections (2), (3), (4), (5) and (10) of section 53 of this Act as adapted by paragraph 9(2) and (3) of Schedule 2 to this Act shall apply, subject to any necessary modifications, in respect of the accounts and determination prepared under sub-paragraph (1A) above as they apply in respect of the accounts and determination prepared under the said section 53 as so adapted.”
(4)Paragraph 16 shall be renumbered sub-paragraph (1) of that paragraph and there shall be added at the end the following sub-paragraph—
“(2)The discharge of the debtor by virtue of an order under paragraph 11 above shall not affect any right of a secured creditor—
(a)for a debt in respect of which the debtor has been discharged to enforce his security for payment of the debt and any interest due and payable on the debt until the debt is paid in full; or
(b)for an obligation in respect of which the debtor has been discharged to enforce his security in respect of the obligation.”
(5)Paragraph 16 of Schedule 4 to the 1985 Act shall be deemed always to have had effect as amended by this paragraph.
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