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Section 84: Duty of insolvent and trustee

Insolvency Act · PART II: BANKRUPTCY AND ALTERNATIVES

consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.

84. Duty of insolvent and trustee (1) After the Court has approved the proposal,— (a) the insolvent shall do everything that is necessary to put the proposal into effect; and (b) the trustee shall— (i) take control of the property that is the subject of the proposal; (ii) administer and distribute that property according to the terms of the proposal; and (iii) generally give effect to the proposal. (2) The trustee may sell the property— (a) according to the terms of the proposal, where it specifies the method of sale; or (b) according to section 54, where the proposal does not specify the method of sale. (3) The trustee shall file with the Court a summary of receipts and payments— (a) for each 6-month period following Court approval of the proposal, within one month after the end of the period; and (b) for the period between the end of the last 6-month period and the date when the trustee stops acting as trustee, within one month after the trustee has stopped acting.

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