SCHEDULES
SCHEDULE 10Trustees in bankruptcy
Insolvency Act 1986 (c. 45)
I13
1
Section 287 (receivership pending appointment of first trustee) is amended as follows.
2
For the heading substitute “
Powers of interim receiver
”
.
3
In subsection (1)—
a
for the words from the beginning to “official receiver” substitute “
An interim receiver appointed under section 286
”
;
b
for “bankrupt's estate” substitute “
debtor's property
”
.
4
In subsection (2)—
a
for “the official” substitute “
an interim
”
;
b
for “bankrupt's estate” substitute “
debtor's property
”
;
c
for “the estate” (in both places) substitute “
the property
”
.
5
In subsection (3)—
a
for “The official” substitute “
An interim
”
;
b
for “of the estate” substitute “
of the debtor's property
”
;
c
in paragraph (a), for the words from “any” to the end substitute “
the debtor's property,
”
;
d
for paragraph (b), substitute—
b
is not required to do anything that involves his incurring expenditure, except in pursuance of directions given by—
i
the Secretary of State, where the official receiver is the interim receiver, or
ii
the court, in any other case,
e
in paragraph (c) for “bankrupt's” substitute “debtor's”.
6
In subsection (4)—
a
for paragraph (a) substitute—
a
an interim receiver acting as receiver or manager of the debtor's property under this section seizes or disposes of any property which is not the debtor's property, and
b
in paragraph (b) for “official receiver” substitute “
interim receiver
”
;
c
for “official receiver is” substitute “
interim receiver is
”
;
d
for “bankruptcy” substitute “
interim receivership
”
.
7
Omit subsection (5).