Small Business, Enterprise and Employment Act 2015

Bankruptcy

78 (1) Section 299 (release of trustee) is amended as follows.

(2) In subsection (1)(a), omit “a general meeting of”.

(3) In subsection (3)(a)—

(a) for the words from “case” to “died” substitute “following cases”;

(b) after “hold office” insert “—

(i) the person has been removed from office by a decision of the bankrupt’s creditors and the creditors have not decided against his release,

(ii) the person has died;”.

(4) For subsection (3)(b) substitute—

“(b) in the following cases, such time as the Secretary of State may, on an application by the person, determine—

(i) the person has been removed from office by a decision of the bankrupt’s creditors and the creditors have decided against his release,

(ii) the person has been removed from office by the court or by the Secretary of State,

(iii) the person has vacated office under section 298(6);”.

(5) In subsection (3)(d), for paragraphs (i) and (ii) substitute—

“(i) if any of the bankrupt’s creditors objected to the person’s release before the end of the period for so objecting prescribed by the rules, such time as the Secretary of State may, on an application by that person, determine, and

(ii) otherwise, the time at which the person vacated office.”

(6) After subsection (3) insert—

“(3A) Where the person is removed from office by a decision of the bankrupt’s creditors, any decision of the bankrupt’s creditors as to whether the person should have his release must be made by a creditors’ decision procedure.”