121Exercise of powers by trustee in bankruptcy: removal of need for sanctionU.K.
This section has no associated Explanatory Notes
(1)The Insolvency Act 1986 is amended as follows.
(2)In section 314 (bankruptcy: powers of trustee)—
(a)for subsection (1) substitute—
“(1)The trustee may exercise any of the powers specified in Parts 1 and 2 of Schedule 5.”,
(b)in subsection (2), omit “With the permission of the creditors' committee or the court,”, and
(c)omit subsections (3) and (4).
(3)In Schedule 5 (powers of trustee in bankruptcy), omit the headings for each of Parts 1 to 3.