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Small Business, Enterprise and Employment Act 2015

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This is the original version (as it was originally enacted).

Trustees in bankruptcy

133Trustees in bankruptcy

(1)In the Insolvency Act 1986, before section 292 insert—

291AFirst trustee in bankruptcy

(1)On the making of a bankruptcy order the official receiver becomes trustee of the bankrupt’s estate, unless the court appoints another person under subsection (2).

(2)If when the order is made there is a supervisor of a voluntary arrangement approved in relation to the bankrupt under Part 8, the court may on making the order appoint the supervisor of the arrangement as the trustee.

(3)Where a person becomes trustee of a bankrupt’s estate under this section, the person must give notice of that fact to the bankrupt’s creditors (or, if the court so allows, advertise it in accordance with the court’s directions).

(4)A notice or advertisement given by a trustee appointed under subsection (2) must explain the procedure for establishing a creditors’ committee under section 301.

(2)Schedule 10 makes consequential amendments.

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