IVProperty of Petitioner to vest in Assignees for the Time by virtue of the Appointment.
And be it enacted, That the Property of the Petitioner shall, for the Purposes of the said recited Act and of this Act, vest in the Assignee or Assignees for the Time being, by virtue of the Appointment of such Assignee or Assignees ; and every such Assignee shall be deemed to be an Officer of the Court in which the Petition shall be filed, and shall be liable as such to the Control thereof: Provided always, that the Property of the Petitioner shall in every Case be possessed and received by the Official Assignee alone, save where it shall be otherwise directed by the Commissioner: Provided also, that it shall be lawful for the Lord Chancellor, or the Judges and Commissioners of the Court of Bankruptcy in London, or the Majority of them, if authorized so to do by the Lord Chancellor, from Time to Time to make such Orders, Rules, and Regulations for the Security of the Property of the Petitioner as he or they may judge reasonable and proper.