Award of sequestration and appointment and resignation of interim trustee
13BF1Termination of Accountant in Bankruptcy's functions as interim trustee where not appointed as trustee
1
This section applies where the Accountant in Bankruptcy is appointed as interim trustee under section 2(5) of this Act and the sheriff —
a
awards sequestration and appoints another person as trustee under section 2(2A) of this Act; or
b
refuses to award sequestration.
2
Where the sheriff awards sequestration and appoints another person as trustee, the Accountant in Bankruptcy shall hand over to the trustee everything in his possession which relates to the sequestration and shall thereupon cease to act in the sequestration.
3
The sheriff may make such order in relation to liability for the outlays and remuneration of the Accountant in Bankruptcy as may be appropriate.
4
Within 3 months of the sheriff awarding or, as the case may be, refusing to award sequestration, the Accountant in Bankruptcy shall—
a
send to the debtor and the petitioner—
i
his accounts of his intromissions (if any) with the debtor's estate;
ii
a determination of his fees and outlays calculated in accordance with regulations made under section 69A of this Act; and
iii
the notice mentioned in subsection (5) below; and
b
in a case where sequestration is awarded, send a copy of his accounts, the claim and the notice to all creditors known to him.
5
The notice referred to in subsection (4)(a)(iii) above is a notice in writing stating—
a
that the Accountant in Bankruptcy has commenced procedure under this Act leading to discharge in respect of his actings as interim trustee;
b
that an appeal may be made to the sheriff under subsection (7) below; and
c
the effect mentioned in subsection (9) below.
6
The Accountant in Bankruptcy shall, unless the sheriff refuses to award sequestration, insert a copy of the accounts and the determination in the sederunt book.
7
The debtor, the petitioner and any creditor may, within 14 days after the sending of the notice under subsection (4)(a)(iii) or, as the case may be, subsection (4)(b) above, appeal to the sheriff against—
a
the determination of the Accountant in Bankruptcy mentioned in subsection (4)(a)(ii) above;
b
the discharge of the Accountant in Bankruptcy in respect of his actings as interim trustee;
c
both such determination and discharge,
and the sheriff clerk shall send a copy of the decree of the sheriff to the Accountant in Bankruptcy.
8
The decision of the sheriff in an appeal under subsection (7) above shall be final.
9
Where—
a
the requirements of this section have been complied with; and
b
no appeal is made to the sheriff under subsection (7) above or such an appeal is made but is refused as regards the discharge of the Accountant in Bankruptcy,
the Accountant in Bankruptcy shall be discharged from all liability (other than any liability arising from fraud) to the debtor, to the petitioner or to the creditors in respect of any act or omission of the Accountant in Bankruptcy in exercising the functions of interim trustee conferred on him by this Act.