(1)This section applies where the Accountant in Bankruptcy has acted as the permanent trustee in any sequestration.
(2)After the Accountant in Bankruptcy has made a final division of the debtor’s estate, he shall insert in the sederunt book—
(a)his final accounts of his intromissions (if any) with the debtor’s estate;
(b)the scheme of division (if any); and
(c)a determination of his fees and outlays calculated in accordance with regulations made under section 69A of this Act.
(3)The Accountant in Bankruptcy shall deposit any unclaimed dividends and any unapplied balances in an appropriate bank or institution.
(4)The Accountant in Bankruptcy shall send to the debtor and to all creditors known to him—
(a)a copy of the determination mentioned in subsection (2)(c) above; and
(b)a notice in writing stating—
(i)that the Accountant in Bankruptcy has commenced the procedure under this Act leading to discharge in respect of his actings as permanent trustee;
(ii)that the sederunt book relating to the sequestration is available for inspection at such address as the Accountant in Bankruptcy may determine;
(iii)that an appeal may be made to the sheriff under subsection (5) below; and
(iv)the effect of subsection (7) below.
(5)The debtor and any creditor may appeal to the sheriff against—
(a)the determination of the Accountant in Bankruptcy mentioned in subsection (2)(c) above;
(b)the discharge of the Accountant in Bankruptcy in respect of his actings as permanent trustee; or
(c)both such determination and discharge.
(6)An appeal under subsection (5) above shall be made not more than 14 days after the issue of the notice mentioned in subsection (4)(b) above; and the decision of the sheriff on such an appeal shall be final.
(7)Where—
(a)the requirements of this section have been complied with; and
(b)no appeal to the sheriff is made under subsection (5) 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 creditors or to the debtor in respect of any act or omission of the Accountant in Bankruptcy in exercising the functions of permanent trustee in the sequestration.
(8)Where the Accountant in Bankruptcy is discharged from all liability as mentioned in subsection (7) above, he shall make an entry in the sederunt book recording such discharge.
(9)Where the Accountant in Bankruptcy—
(a)has acted as both interim trustee and permanent trustee in a sequestration;
(b)has not been discharged under section 26A(7) of this Act,
references in this section to his acting as or exercising the functions of permanent trustee shall be construed as including references to his acting as or exercising the functions of interim trustee; and subsection (7) above shall have effect accordingly.]
Textual Amendments
F1S. 58A inserted (1.4.1993, subject to savings in arts. 4, 5 of S.I. 1993/438) by 1993 c. 6, s. 11(3), Sch. 1 para.26 (with s. 12(6)); S.I. 1993/438, art.3