Lawgist137Completion of administration
(1) The bankruptcy trustee shall convene a meeting of the committee of creditors on completion of the administration and distribution of the estate of the bankrupt in accordance with the provisions of Chapter V.
(2) The bankruptcy trustee shall provide the committee of creditors with a report of the administration of the estate of the bankrupt in the meeting of the said committee.
(3) The committee of creditors shall approve the report submitted by the bankruptcy trustee under sub-section (2) within seven days of the receipt of the report and determine whether the bankruptcy trustee should be released under section 148.
(4) The bankruptcy trustee shall retain sufficient sums from the estate of the bankrupt to meet the expenses of convening and conducting the meeting required under this section during the administration of the estate.
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- 121 Application for bankruptcy
- 122 Application by debtor
- 123 Application by creditor
- 124 Effect of application
- 125 Appointment of insolvency professional as bankruptcy trustee
- 126 Bankruptcy order
- 127 Validity of bankruptcy order
- 128 Effect of bankruptcy order
- 129 Statement of financial position
- 130 Public notice inviting claims from creditors
- 131 Registration of claims
- 132 Preparation of list of creditors
- 133 Summoning of meeting of creditors
- 134 Conduct of meeting of creditors
- 135 Voting rights of creditors
- 136 Administration and distribution of estate of bankruptcy
- 137 Completion of administration
- 138 Discharge order
- 139 Effect of discharge
- 140 Disqualification of bankrupt
- 141 Restrictions on bankrupt
- 142 Modification or recall of bankruptcy order
- 143 Standard of conduct
- 144 Fees of bankruptcy trustee
- 145 Replacement of bankruptcy trustee
- 146 Resignation by bankruptcy trustee
- 147 Vacancy in office of bankruptcy trustee
- 148 Release of bankruptcy trustee
