PART 10

Claims, dividends and distribution etc.

Procedure after end of accounting period

Further provision as to procedure after end of accounting period
135
1
The trustee in the sequestration must pay to the creditors their dividends in accordance with the scheme of division on—
a
the expiry of the 8 weeks mentioned in section 134(1), or
b
if there is an appeal under that subsection, on the final determination of the last such appeal.
2
There must be deposited by the trustee, in an appropriate bank or institution, any dividend—
a
allocated to a creditor but not cashed or uplifted, or
b
dependent on a claim in respect of which an amount has been set aside under subsection (5) or (7) of section 131.
3
If a creditor's claim is revalued, the trustee may—
a
in paying any dividend to that creditor, make such adjustment to it as the trustee considers necessary to take account of that revaluation, or
b
require the creditor to repay to the trustee the whole or part of a dividend already paid to the creditor.
S. 135 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2