Section 48: Defeating beneficial interest

48. Defeating beneficial interest (1) After adjudication, a bankrupt shall not execute a power of appointment, or any other power vested in the bankrupt, where the result is to defeat or destroy any contingent or other estate or interest in any property to which the bankrupt may otherwise be entitled at any time before his discharge. (2) The restriction imposed on the bankrupt by subsection (1) shall, subject to sections 31 and 32, apply both before and after the bankrupt obtains a discharge.