Section 48: Property not divisible among creditors

48. Property not divisible among creditors (1) The following shall not form part of the bankrupt’s property divisible among his creditors— (a) property held by the bankrupt on trust or as a deposit for any other person; (b) the necessary wearing apparel and bedding of himself, his spouse and children, the whole to a value not exceeding 500 rupees to be fixed by the Court according to circumstances, and the tools, if any, of his trade; (c) property existing in kind among the debtor’s assets and which he obtained by means of fraud when he was in actual contemplation of bankruptcy and for which he has not paid on condition that the property is claimed within 8 days from the date of the publication in the Gazette of the order of adjudication, and that the property has been obtained within one month prior to the petition; (d) all negotiable instruments or other unpaid titles existing in kind among the bankrupt’s assets and which have been sent or delivered by the owner thereof for the mere purpose of the bankrupt obtaining payment and keeping the amount at the owner’s disposal or which have been by the owner applied to or destined for specified debts; (e) all goods and merchandise consigned to the bankrupt to be sold for the account of the owner and existing in kind among the bankrupt’s assets, and also the price or portion of the price due to the bankrupt by a purchaser of the goods and merchandise; (f) all goods and merchandise sold to the bankrupt, the price of which is wholly or partly due and which have not been delivered to the bankrupt or his agent. (2) No claim for any instrument, title or goods and merchandise mentioned in subsection (1) (d) and (e) shall be admitted unless the party making the claim pays to the Official Receiver or trustee all sums spent by the bankrupt on account of the instrument, title or goods and merchandise and all advances made thereon for freight or carriage, commission, insurance and other costs. [Issue 1] B4 – 24 Revised Laws of Mauritius (3) The vendor of goods referred to in subsection (1) (f) or his agent may retain the goods, or, where they have been sent to the bankrupt, may stop them before they are delivered to the bankrupt or his agent.