Bankruptcy and Insolvency General Rules

67 (1) At the time of the hearing, the registrar shall consider the creditors’ objections and the letter of comment issued by the Superintendent, and shall tax the trustee’s accounts accordingly.

(2) Where the registrar taxes a trustee’s accounts as submitted, the trustee shall

• (a) take the trustee’s fee as taxed;

• (b) send a final dividend to each creditor to whom one is owed; and

• (c) within two months after the date of the taxation order,

  • (i) close the bank account used in administering the estate of the bankrupt, if that account is not a consolidated account, or, where the account is a consolidated account, ensure that all estate funds have been withdrawn from it,

  • (ii) remit any unclaimed dividends and undistributed funds to the Superintendent, and

  • (iii) send to the Division Office a certificate of compliance and deemed discharge, in prescribed form.

(3) A trustee is deemed to be discharged on meeting the requirements of paragraphs (2)(b) and (c).

(4) Where the registrar taxes a trustee’s accounts otherwise than as submitted, the trustee shall

• (a) take the trustee’s fee as taxed;

• (b) send a final dividend to each creditor to whom one is owed, in accordance with the taxation order; and

• (c) within two months after the date of the taxation order,

  • (i) close the bank account used in administering the estate of the bankrupt if that account is not a consolidated account or, where the account is a consolidated account, ensure that all estate funds have been withdrawn from it,

  • (ii) remit any unclaimed dividends and undistributed funds to the Superintendent,

  • (iii) send to the Division Office and to each creditor a revised final statement of receipts and disbursements, a revised dividend sheet and a copy of the taxation order, and

  • (iv) send to the Division Office and to the registrar a certificate of compliance and deemed discharge, in prescribed form.

(5) A trustee is deemed to be discharged on meeting the requirements of paragraphs (4)(b) and (c).