Part IX Bankruptcy
Chapter III Trustees in Bankruptcy
Tenure of office as trustee
298 Removal of trustee; vacation of office.
(1)
Subject as follows, the trustee of a bankrupt’s estate may be removed from office only by an order of the court or by a general meeting of the bankrupt’s creditors summoned specially for that purpose in accordance with the rules.
(2)
Where the official receiver is trustee by virtue of section 297(1), he shall not be removed from office under this section.
(3)
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(4)
Where the official receiver is trustee by virtue of section 293(3) or 295(4) or a trustee is appointed by the Secretary of State or (otherwise than under section 297(5)) by the court, a general meeting of the bankrupt’s creditors shall be summoned for the purpose of replacing the trustee only if—
(a)
the trustee thinks fit, or
(b)
the court so directs, or
(c)
the meeting is requested by one of the bankrupt’s creditors with the concurrence of not less than one-quarter, in value, of the creditors (including the creditor making the request).
(5)
If the trustee was appointed by the Secretary of State, he may be removed by a direction of the Secretary of State.
(6)
The trustee (not being the official receiver) shall vacate office if he ceases to be a person who is for the time being qualified to act as an insolvency practitioner in relation to the bankrupt.
(7)
The trustee may, in the prescribed circumstances, resign his office by giving notice of his resignation to the court.
(8)
The trustee shall vacate office on giving notice to the court that a final meeting has been held under section 331 in Chapter IV and of the decision (if any) of that meeting.
(9)
The trustee shall vacate office if the bankruptcy order is annulled.