Section 29: Bankrupt’s estate

29. Bankrupt’s estate (1) Subject to subsection (2), a bankrupt’s estate for the purpose of this Sub-part shall comprise— (a) all property belonging to or vested in the bankrupt at the commencement of the bankruptcy; and (b) any property which, pursuant to this Sub-part, forms part of that estate or is treated as forming part of that estate. (2) Subsection (1) shall not apply to— (a) such tools, books, vehicles and other items of equipment as are necessary to the bankrupt for use personally by him in his employment, business or vocation up to a maximum value assessed by the Official Receiver of 100,000 rupees or such other amount as may be prescribed or agreed to by resolution of the creditors; (b) such clothing, bedding, furniture, household equipment and provisions as are necessary to satisfy the basic domestic needs of the bankrupt and his family, up to a maximum value assessed by the Official Receiver of 100,000 rupees or such other amount as may be prescribed or agreed by resolution of the creditors; and (c) property held by the bankrupt on trust for any other person. [Issue 3] I14 – 26 Revised Laws of Mauritius (3) (a) In this Sub-part, “property”, in relation to a bankrupt, includes reference to any power exercisable by the bankrupt over or in respect of property in or outside Mauritius for the bankrupt’s own benefit. (b) For the purposes of this Sub-part, property which forms part of the bankrupt’s estate does so subject to the rights of any person other than the bankrupt, and a secured creditor may take possession of and realise and otherwise deal with property over which he has a charge, disregarding any rights the secured creditor has given up under section 5 (2) (b) and any rights which have otherwise been given up in accordance with the Second Schedule or in such manner as may be prescribed. (4) This section shall apply to any other enactment under which any property is to be excluded from a bankrupt’s estate.