C1 PART IXBANKRUPTCY
CHAPTER IVADMINISTRATION BY TRUSTEE
Acquisition, control and realisation of bankrupt's estate
Powers of trustee287
1
The trustee may—
a
with the permission of the creditors' committee or the High Court, exercise any of the powers specified in Part I of Schedule 3, and
b
without that permission, exercise any of the general powers specified in Part II of Schedule 3.
2
With the permission of the creditors' committee or the High Court, the trustee may appoint the bankrupt—
a
to superintend the management of his estate or any part of it,
b
to carry on his business (if any) for the benefit of his creditors, or
c
in any other respect to assist in administering the estate in such manner and on such terms as the trustee may direct.
3
A permission given for the purposes of paragraph (1)(a) or (2) shall not be a general permission but shall relate to a particular proposed exercise of the power in question; and a person dealing with the trustee in good faith and for value is not to be concerned to enquire whether any permission required in either case has been given.
4
Subject to paragraph (5), where the trustee has done anything without the permission required by paragraph (1)(a) or (2), the High Court or the creditors' committee may, for the purpose of enabling him to meet his expenses out of the bankrupt's estate, ratify what the trustee has done.
5
The committee shall not ratify the trustee's action under paragraph (4) unless it is satisfied that the trustee has acted in a case of urgency and has sought its ratification without undue delay.
6
Part III of Schedule 3 has effect with respect to the things which the trustee is able to do for the purposes of, or in connection with, the exercise of any of his powers under Parts VIII to X.
7
Where the trustee (not being the official receiver) in exercise of the powers conferred on him by any provision in Parts VIII to X—
a
disposes of any property comprised in the bankrupt's estate to an associate of the bankrupt, or
b
employs a solicitor,
he shall, if there is for the time being a creditors' committee, give notice to the committee of that exercise of his powers.
8
Without prejudice to the generality of paragraph (6) and Part III of Schedule 3, the trustee may, if he thinks fit, at any time summon a general meeting of the bankrupt's creditors.
9
Subject to the preceding provisions in Part VIII and this Part, he shall summon such a meeting if he is requested to do so by a creditor of the bankrupt and the request is made with the concurrence of not less than one‐tenth, in value, of the bankrupt's creditors (including the creditor making the request).
10
Nothing in this Order is to be construed as restricting the capacity of the trustee to exercise any of his powers outside Northern Ireland.
Pts. VIII-X (arts. 209-345) modified by Foyle Fisheries Act (Northern Ireland) 1952 (c. 5), s. 52K(2) (as inserted (prosp.) by Foyle and Carlingford Fisheries (Northern Ireland) Order 2007 (S.I. 2007/915 (N.I. 9)), arts. 1(3), 3(1) (with art. 32))